PF-GRAND sells 12.1 billion baht in assets for liquidity

MGR Online•Economy•6d ago

Reader Briefing

Property Perfect and Grand Asset Hotels and Property plan to sell 11 assets totaling 12,145 million baht to increase liquidity and repay debt.

•Property Perfect and Grand Asset Hotels and Property are adjusting their asset portfolios.
•A total of 11 land and real estate items valued at 12,145 million baht are slated for sale.
•Proceeds will be used to reduce debenture and bank debt, specifically for repayments between 2027-2029.
•Property Perfect currently holds 16 series of debentures totaling 5,397.90 million baht.

Overview

•Property Perfect and Grand Asset Hotels and Property plan to sell 11 items of land and real estate valued at 12,145 million baht.
•The asset sales aim to increase financial liquidity and support business plans.
•The group intends to use the funds to support debenture repayments scheduled for 2027-2029.
•Property Perfect has 16 series of debentures totaling 5,397.90 million baht, while Grand Asset Hotels and Property has debentures totaling 3,566.10 million baht.
•Property Perfect's portion consists of 8 items totaling approximately 185 rai with a value of approximately 6,245 million baht.
•Grand Asset Hotels and Property's portion consists of 3 items valued at 5,900 million baht, including land in Rayong and luxury condominiums near BTS Thong Lo.
•Sanit Atthayanasakul stated the plan is part of managing land banks that have no immediate development plans to align with market conditions.

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Key Quotes

Sanit Atthayanasakul

"This portfolio adjustment will increase options for the group's capital management, and the cash flow generated from asset sales will be utilized for maximum benefit."

การปรับพอร์ตครั้งนี้จะช่วยเพิ่มทางเลือกในการบริหารเงินทุนของกลุ่มบริษัท โดยกระแสเงินสดที่เกิดขึ้นจากการขายสินทรัพย์จะนำไปใช้ให้เกิดประโยชน์สูงสุด

Key Entities

Person

Sanit Atthayanasakul(ศานิต อรรถญาณสกุล)

Chief Executive Officer of Property Perfect Public Company Limited.

Organization

Property Perfect(พร็อพเพอร์ตี้ เพอร์เฟค)

A public company limited (PF) that is selling 8 asset items totaling approximately 6,245 million baht.

Grand Asset Hotels and Property(แกรนด์ แอสเสท โฮเทลส์ แอนด์ พรอพเพอร์ตี้)

A public company limited (GRAND) that is offering 3 asset items for investment totaling 5,900 million baht.

Place

Bangkok(กรุงเทพฯ)ℹ️

A location where the companies hold potential land and assets.

Rayong(ระยอง)ℹ️

The province where Grand Asset Hotels and Property has 92.78 rai of seaside land.