Central Pattana forms JV with Tesco
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Retail property developer Central Pattana (CPN) has set up a JV with British retail giant Tesco to co-develop property in the Thai market.
The Central Group subsidiary has told the Stock Exchange of Thailand (SET) that the new company, Synergistic Property Development, will support business expansion. It has registered capital of THB100,000 (US$3000) with ordinary share capital of 1000 shares at a par value of THB100 each.
CPN holds a 50 per cent stake in the JV company while the other 50 per cent belongs to Ek-Chai Distribution System, which runs Tesco Lotus hypermarkets in Thailand.
Details of the business model to be developed under the new company are under study, says CPN executive VP for marketing Nattakit Tangpoonsinthana.
Questions & Answers
Q.What is the purpose of the new joint venture company?
What is the purpose of the new joint venture company?
The new company, Synergistic Property Development, has been set up to co-develop property in the Thai market. It is intended to support the business expansion of the involved parties.
Q.What is the registered capital of the new company?
What is the registered capital of the new company?
Synergistic Property Development has a registered capital of THB100,000, which is equivalent to US$3,000. It consists of 1,000 ordinary shares, each with a par value of THB100.
Q.Are the operational plans for the new company finalised yet?
Are the operational plans for the new company finalised yet?
No, the details of the business model to be developed under the new company are still under study. CPN executive VP for marketing, Nattakit Tangpoonsinthana, stated this.
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