EXIM Thailand Supports Singha Estate Plc. to Develop Maldives First Integrated Tourism Megaproject

Stocks and Financial Services Press Releases Wednesday March 14, 2018 09:16
Bangkok--14 Mar--EXIM BANK

Mr. Pisit Serewiwattana, President of Export-Import Bank of Thailand, Mr. Naris Cheyklin, Chief Executive Officer, Singha Estate Public Company Limited, and Mr. Thiti Thongbenjamas, Chief Operating Officer-CROSSROADS, Maldives, Singha Estate Public Company Limited, recently signed a loan agreement whereby EXIM Thailand provided a credit facility worth 120 million US dollars to finance the company's CROSSROADS Project, a megaproject consisting of an integrated tourism complex and resort in Maldives, at EXIM Thailand's Head Office. In the first phase, 3 resorts with one township, yacht marina, duty-free shops, beach club, retail outlets, restaurants and related facilities for convention and exhibition venues will be developed.

This financial facility to Singha Estate Public Company Limited aims to support the establishment of a large-scale fully-integrated real estate development project operated by high-potential Thai entrepreneurs in Maldives, the world's leading tourist destination. By combining tourism promotion with economic development, the project helps enhance trade, investment and services in response to the expansion of tourism, convention activities and local township, bringing about economic progress and sustainable development in the region. This is in line with EXIM Thailand's strategic plans to increase the Bank's role as a development bank for the promotion of international trade and investment as well as Thailand's high-potential businesses.

For further information, please contact Corporate Communication Division, Secretary and Corporate Communication
Tel. 0 2271 3700, 0 2278 0047, 0 2617 2111 ext. 1141, 1144

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