Post by account_disabled on Jan 3, 2024 8:32:07 GMT 2
Mr. Phongphan Samphawakup, Chief Executive Officer of Apex Development Public Company Limited or APEX, said, "The Company's Board of Directors has resolved to approve the sale of shares in a subsidiary, Grand Company. Bay Hotel Limited, a total of 2.5 million shares, representing 50%, to Mercurius Capital Investment, a public company on the Singapore Stock Exchange. Expert in investing in leading real estate projects, a total of 335,000,000 baht to invest in the Sheraton Phuket Grand Bay Resort hotel project at Ao Por, Phuket Province of the Company. which has a project value of approximately 1,837,000,000 baht" APEX will gain several benefits from the sale of these shares.
The first is that the C Level Executive List sale price is 134 baht per share, higher than the book value (72.47 baht per share) by 61.53 baht per share, or higher than the book value for a total of 153.825 million baht. The recognition of profit from the sale of assets will be Conforms to relevant accounting standards The second thing is that the company acquired the Mercurius group. which has business and financial potential Including expertise in investing in real estate to enhance business partnerships. Increase your potential in doing this project and other development projects of Apex Incidentally, the construction budget for this hotel will be in proportion to the joint venture. which is from the readiness of construction and capital We believe that the hotel will be ready and open for business around the end of next year. (2020) as planned Ready to sell hotel assets to make a profit according to the company's policy.
Another project that we are currently developing in the southern tourist provinces is Club Med Krabi Resort and Residence at Haad Yao, Krabi Province. which was launched at the end of last year and has already sold 65% and there are two beachfront projects: Sheraton Krabi Yao Beach Resort & Residences and Delta Hotel by Marriott Mai Khao Phuket Resort and Residences at Mai Khao Beach. Phuket Province which is scheduled to launch in October 2019 onwards. In addition to the hotel part, the Sheraton Residence part of the project in Ao Por, which we own 100%, is close to completion and will recognize revenue at the end of this year. By the Residence Project We have already sold more than 75%, representing more than 1,600 million baht in revenue waiting to be realized. I believe that from the second half of the year onwards. Apex will have many positive developments for its shareholders going forward.
The first is that the C Level Executive List sale price is 134 baht per share, higher than the book value (72.47 baht per share) by 61.53 baht per share, or higher than the book value for a total of 153.825 million baht. The recognition of profit from the sale of assets will be Conforms to relevant accounting standards The second thing is that the company acquired the Mercurius group. which has business and financial potential Including expertise in investing in real estate to enhance business partnerships. Increase your potential in doing this project and other development projects of Apex Incidentally, the construction budget for this hotel will be in proportion to the joint venture. which is from the readiness of construction and capital We believe that the hotel will be ready and open for business around the end of next year. (2020) as planned Ready to sell hotel assets to make a profit according to the company's policy.
Another project that we are currently developing in the southern tourist provinces is Club Med Krabi Resort and Residence at Haad Yao, Krabi Province. which was launched at the end of last year and has already sold 65% and there are two beachfront projects: Sheraton Krabi Yao Beach Resort & Residences and Delta Hotel by Marriott Mai Khao Phuket Resort and Residences at Mai Khao Beach. Phuket Province which is scheduled to launch in October 2019 onwards. In addition to the hotel part, the Sheraton Residence part of the project in Ao Por, which we own 100%, is close to completion and will recognize revenue at the end of this year. By the Residence Project We have already sold more than 75%, representing more than 1,600 million baht in revenue waiting to be realized. I believe that from the second half of the year onwards. Apex will have many positive developments for its shareholders going forward.