FOR IMMEDIATE RELEASE
Bangkok, 4th February, 2013 - Raimon Land PLC (Raimon Land' or the 'Company'), Thailand's leading high-end property developer, has caught the attention of Mr Lionel Lee, a well-regarded Singaporean entrepreneur who heads Singapore-listed Ezra Holdings Limited (Ezra').As Director and strategic shareholder, Mr Lee, through his wholly-owned company, JS Oil Pte. Ltd., replaces IFA Hotels & Resorts 3 Limited as the Company's largest shareholder, acquiring a 24.97% shareholding for THB 2,143,200,000 in a transaction completed on Friday 1st February 2013.
Mr Lee is well known for the development of Singaporean offshore oil and gas services company, Ezra Holdings Limited. Over the past decade, he has grown Ezra and other SMEs into world class, global players with listings in Singapore, Norway and Malaysia, and a total market capitalization of nearly US$2 billion, with over 5,000 staff worldwide. Under his visionary leadership, the Ezra Group has also launched two other listed entities, including the recently listed TRIYARDS Holdings Limited, a shipyard that has expanded significantly since it was taken over in 2005.
In recent years Mr Lee has further diversified his interests into real estate and hotel management with the successful development of Tower 15, an impressive 30-storey, high-rise skyscraper in Singapore's central business district that is now home to many well-known Oil & Gas companies, boutique hotel klapsons, and popular sky-terrace bar Fabrika.
klapsons The Boutique Hotel (klapsons'), the 2012 winner of Singapore's Best Boutique Hotel award, opened in 2009 during the economic downturn, but quickly became an immediate hit with business travelers seeking a stylish alternative to mainstream hotels. Designed by William Sawaya of contemporary design forerunner Sawaya & Moroni, the unique hotel has also won several prestigious design awards. klapsons is managed by Wisteria Hotel Management Pte Ltd, a subsidiary of Mr Lee's family-owned Jit Sun Investments.
Commenting on his latest investment, Lee said, "Raimon Land stands out clearly as Thailand's leading luxury real estate developer and, like me, they are passionate about exceptional quality and innovation. The Group has bright prospects with its unique offering which resonates well with an emerging populace that demands affordable luxury and identifies with strong brands. I believe the Company has great potential to expand regionally, and I look forward to working closely with Raimon Land and their management team in identifying opportunities for growth in Thailand and throughout the Asia Pacific region."
Mr Lionel Lee continued, "We are pleased to warmly welcome Mr Pradit Phataraprasit as Raimon Land's new Chairman of the Board. We believe that under his chairmanship, he will lead Raimon Land to new heights.
Mr Hubert Viriot, Chief Executive Officer of Raimon Land said, "This is an exciting development for the Company. Mr Phataraprasit's chairmanship and Jit Sun Investments' investment and strategic contributions are well-timed to extend the Company's business horizons geographically. Going forward we will work closely to develop new plans for Raimon Land's expansion both in Thailand and in other countries."
Raimon Land has achieved a major turnaround since 2009 with a solid platform of projects under development in Thailand. Having successfully established its leadership position in the Thai market, Raimon Land's on-going projects and new growth opportunities look to continue to provide a secure stream of cashflow and returns to shareholders.
The acquisition was advised by Mr Johnson Tan of IB Partners.
About Raimon Land
Raimon Land is recognized as Thailand's leading luxury property developer having won multiple awards for its projects in Bangkok, Pattaya and Phuket. The Company's 185 Rajadamri project has achieved the highest real estate price in Thailand at Bt 350,000 per square meter.
Raimon Land has achieved a strong track record of project development since 2005 completing eight projects with a total value of approximately US$1 billion. The Company currently has five projects at various stages of development with secured backlog (not yet recognized as revenues in the Company's accounts) from contracted sales worth over Bt 18 billion (over US$0.6 billion).
The Company has a diverse Thai clientele (over two-thirds of sales) and a unique profile amongst foreign buyers of luxury Thai properties. Raimon Land's branding strategy for the mid-to-high end segment includes Unixx (for younger urban professionals) and The Lofts (affordable luxury brand in CBD Bangkok).
|Media Relations Contact|
Raimon Land Public Company Limited
Tel +662-651-9601 ext 179
Francom Asia for Raimon Land
Tel +662-233-4329-30 ext 12
E-mail : firstname.lastname@example.org
Keep this news in your social bookmark: