Noble announces new shareholding structure Thongchai Busrapan, Fulcrum Global, BTS become major shareholders

Stocks and Financial Services Press Releases Friday April 26, 2019 10:05
Bangkok--26 Apr--Ogilvy Public Relations
New vision drawn to grow by leaps and bounds

Noble Development Plc (NOBLE) announced new shareholding structures after the appointment of new top leadership. Thongchai Busrapan, Fulcrum Global Capital and BTS Group become the major shareholders of the company. Noble will now operate under the new shareholding structure and a new vision that will drive the company to grow by leaps and bounds.

Under new shareholding structure, Mr. Thongchai Busrapan has acquired 23.3 percent of the company's stake.
Fulcrum Global Capital, wholly owned by Mr. Frank Leung, holds a 24.9 percent stake in the company through nCrowne Pte. Ltd.
BTS Group Holdings PCL (BTSG) has acquired 9.9 percent stake as part of its treasury investment strategy.

This has made the three parties the major shareholders in Noble Development. Following the move, Thongchai has been appointed the Chairman, the Co-CEO and President of Noble, responsible for running the company's real estate development projects, both horizontal and high-rise. Meanwhile, Frank Leung will also remain as the Co-CEO, and will collaborate with Thongchai in the overall management of the Company, with focus on international marketing and investment activities.

The new management team has articulated a vision to grow Noble by leaps and bounds with a goal to achieve annual revenues of 10 billion baht in the next three years.

In addition to business activities related to the projects currently under development, Noble has focused its efforts on expanding its business overseas. In the first quarter this year, the company has increased international sales from 10 percent to 40 percent of total booked sales.

Furthermore, Noble intends to develop projects in new locations along the skytrain route, with prices ranging from 100,000-150,000 baht per square metre. With an annual budget of 3 billion baht, the company plans to acquire new land plots to grow in this segment. A new brand will be created for these projects.

At the same time, Noble will seek to monetize its landbank and assets for lease. So far, the company has recognized more than two-billion-baht revenue from such initiatives and will continue to strategically divest non-core assets to maximize return on investment.

The new management has expressed confidence that the new shareholding structure will strengthen Noble and facilitate the execution of its strategy, growing the Company by leaps and bounds over the next several years.

Thongchai Busrapan is an experienced real estate business veteran and had been the President and director of Noble from 1992 to 2012.
Fulcrum Global Capital is wholly owned by Frank Leung, the Company is a private equity investor with an extensive international real estate portfolio in the UK, China, Japan and Thailand.

BTS Group Holdings PCL (BTSG) is Thailand's mass transit system service provider and is involved in diversified businesses including media, property and services. The company is committed to offering "city solutions" to make sustainable city development across Asia.

About Noble Development Public Company Limited

Established in 1991, Noble Development has been very successful throughout the past three decades. The company became a listed company on the Stock Exchange of Thailand in 1997 with ticker symbol "NOBLE". The company develops various residential projects, ranging from single house to townhouse, as well as low-rise and high-rise condominiums. It is committed to offering innovative concept to create living experience that is beyond expectation. All Noble projects reflect Noble's commitment, creativity and the its passion to address modern consumers' changing lifestyle and living experience.

Latest Press Release

Fitch Rates EASY BUY#s THB Senior Unsecured Bonds at #AA+(tha)#

Fitch Ratings (Thailand) has assigned a National Long-Term Rating of 'AA+(tha)' to EASY BUY Public Company Limited's (EB; AA+(tha)/Stable) upcoming issue of senior unsecured bonds. The bonds will have a tenor of up to three years. KEY RATING DRIVERS The...

5m USD Ampleforth Sale on Tokinex Completed in 11 Seconds

Tokinex, the Bitfinex and Ethfinex Initial Exchange Offering platform, today announces the successful completion of its first sale in just 11 seconds. The Ampleforth sale of 5 million USD reflected ten percent of AMPL's token supply. Successful...

Photo Release: KBank wins three big awards at The Asian Banker Thailand Country Awards 2019

Mr. Suwat Techawatanawana (center), Executive Vice President, Ms. Suporn Sunthornrohit (right), First Senior Vice President, and Ms. Arporn Sirisrisakunchai, Head of Marketing Campaign Intelligence Department of KBank, represented KBank to receive three...

Photo Release: KTC offers cardmembers up to Bt. 2,000 cash backs at Caltex gas stations.

Ms. Pittaya Vorapanyasakul, Executive Vice President - Credit Card, "KTC" or Krungthai Card Public Company Limited, jointly with Mr. Salman Saadat, Country Chairman and General Manager - Products, Chevron (Thailand) Limited, a world standard gas station...

Fitch Ratings: Large Thai Food Retailers Face Challenges to Maintain Margins

Fitch Ratings-Bangkok-13 June 2019: The margins of Thailand's leading food retailers will come under pressure over the medium term due to fiercer competition, higher fixed costs per unit of sales from smaller store sizes and increasing proportion of...

Related Topics