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NEW UPDATES Asean Affairs  8  August 2014  

Thai bourse welcomes property developer Richy Place
The Stock Exchange of Thailand (SET) welcomes Richy Place 2002 pcl, property developer of condominium and housing projects, on its
main board on August 7, under the ticker symbol "RICHY," with a market capitalization at the initial public offering (IPO) price of THB 2.36 billion (approx. USD 73.6 million).
SET Executive Vice President Chanitr Charnchainarong said that Richy would be listed on SET's Property Development sector. Richy operates property development
in Bangkok and suburbs, focusing on condominium projects close to Bangkok's mass transit stations, under "Rich Park" brand, as well as single-detached
housing and townhouse projects, under the brands "The Rich" and "Rich Ville."
Richy has a paid-up registered capital of 714 million shares, consisting of 500  million existing shares and 214 million newly-issued shares, with a par value of
THB 1.00 each. The company offered the new shares through an IPO during July 28- 29 and August 1 at THB 3.30 per share for a total of THB 706 million.
Country Group Securities pcl is the company's financial advisor, while Apple Wealth Securities Co., Ltd. is the lead underwriter.
Richy's President Apa Attaboonwong said that listing on SET would increase the  company's financial strength and help build image and recognition. Fundraising
proceeds would be used to invest in new projects in line with the extension of mass transit project's new stations. It would help the company to grow strongly
and sustainably.
Richy's three major shareholders after the IPO are Attaboonwong group (54.36  percent), Sunee Satatinun (6.33 percent) and Worapa Mon-arak (2.18 percent). The
IPO price had a price-to-earnings ratio (P/E) of 14.35 times, calculated by using the four latest quarterly net profits (from April 1, 2013 to March 31,
2014) divided by the number of fully-diluted shares, representing earnings per share of THB 0.23. The average P/E of similar listed companies in the same
industry for 12-month period from July 2013 - July 2014 was 11.76. Richy's dividend payment policy is no less than 40 percent of net profit after corporate  tax and reserves.

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This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






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