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Phuket

Laguna Resorts to take over Banyan Tree

Legacy Phuket Gazette

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Laguna Resorts to take over Banyan Tree | The Thaiger

PHUKET: Laguna Resorts and Hotels Plc (LRH) has announced a plan to acquire the Banyan Tree Hotel Group, an acquisition that would make it the largest hotel group in Thailand and one of the biggest in Asia. LRH’s board of directors approved the plan on July 9. It has yet to be approved by shareholders, who will meet on August 16. The assets LRH will acquire include: · 100% of the Banyan Tree hotel management company that comes with seven contracts with Banyan Tree Hotels and two contracts with Allamanda resorts; · 97% of the Banyan Tree Maldives; · 49% of the Banyan Tree Phuket; · 23% of the Banyan Tree Seychelles, due to open in 2001; · 100% of Banyan Tree Spa and Angsana Spa which have operations in six hotels and four more pending; · 50% of Seychelles Tropical Resorts Holding which is the land bank company on the Seychelles. The acquisition will cost LRH around 3.5 billion baht, all of which will be financed by a capital increase of 268 million new shares, increasing LRH’s total number of outstanding shares from 85 million to 353 million. Of the 268 million, 177 million shares will be offered to the public at about 13.6 baht apiece; 70 million shares will be a private placement at 14 baht apiece, and the rest will go to the existing shareholders at par. The conversion ratio for the rights issue is four old to one new. Once the capital increase is complete, Bermuda-based Asian Property Partners Ltd will hold 24%, and Tropical Resource Co will have 40% of LRH. LRH’s chairman Ho Kwon Ping was reported in the Bangkok Post as saying, “The acquisition will create a major impact for the Laguna Group. Once it gets the Banyan Tree group, it will become the biggest listed hotel group [in Thailand], and Laguna will no longer be a Thai hotel company alone but a regional hotel company.” LRH is now the eighth-largest hotel company in Thailand with a market capitalization of about 1.7 billion baht. However, if the capital increase is successful, it will have a market capitalization of about 6.4 billion, assuming an x-rights price of 18 baht apiece. This will make LRH easily the biggest hotel company listed in the country, followed at a distance by Shangri-La and Dusit Thani. The market has so far responded positively to the acquisition plan. LRH’s share price rose 75 satang to close at 20.25 baht right after the board’s announcement.



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Phuket

Motorbike driver smashes through glass window after accelerator malfunctions

Kritsada Mueanhawong

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Motorbike driver smashes through glass window after accelerator malfunctions | The Thaiger

A female motorbike driver has sustained injuries after her motorbike’s hand grip malfunctioned and she collided with a glass wall. Chalong Police were notified of the incident at an air conditioning shop at 6pm yesterday on Chao Fa West Road in Chalong.

Police and emergency responders arrived and found the shattered glass wall and a damaged motorbike. The injured 40 year old Naowarat Jankarn had already been taken to Chalong Hospital. She sustained injuries from cuts from the broken glass. Pools of blood were found on the floor.

Ms Naowarat told police that she had parked her motorbike in front of the shop since Wednesday . The motorbike was undrivable because the hand grip accelerator was malfunctioning.

Yesterday she started the motorbike, claiming she had forgotten about the broken accelerator.

Motorbike driver smashes through glass window after accelerator malfunctions | News by The Thaiger Motorbike driver smashes through glass window after accelerator malfunctions | News by The Thaiger Motorbike driver smashes through glass window after accelerator malfunctions | News by The Thaiger Motorbike driver smashes through glass window after accelerator malfunctions | News by The Thaiger Motorbike driver smashes through glass window after accelerator malfunctions | News by The Thaiger

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Phuket

Police hunting for driver who threatened others with a gun on Phuket road – VIDEO

Kritsada Mueanhawong

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Police hunting for driver who threatened others with a gun on Phuket road – VIDEO | The Thaiger

PHOTO: Tiw Tiw

The Thalang Police are hunting for the driver who was threatening other motorists on Thepkrasattri Road by waving a gun around out of the driver’s window of his red sedan in Thalang this morning.

A Facebook user ‘Tiw Tiw’ has posted the video with a message reading “where are the police, please follow him. The incident happened this morning in Thalang.”

The video shows a car switching from one lane to another.  The driver shows a gun in his car window and then appears to throw it out (at least he used his indicator).

The Thalang Police are investigating the incident and want to find the car driver for questioning.

 

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Phang Nga

Phuket’s hotel and property players look north

Bill Barnett

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Phuket’s hotel and property players look north | The Thaiger

by Bill Barnett of c9hotelworks.com

One of Greater Phuket’s real estate and hotel market’s that has a decided buzz of late is the area north of Phuket over the Sarasin bridge in Phang Nga.

In Natai Beach, the entry of the Baba Beach Club and nearby Akyra has created renewed visibility for the broad West Coast stretch of white sand beach, extending north beyond Phuket.

Two upscale hotels are in the development phase in the vicinity, with one being flagged to an international hotel operator.

Up at the 1,000 plus rai Thai Muang mega-project, movement is once again underway, as is a nearby massive Japanese-led mixed-use project including a golf course.

Land values are currently running amuck in the Koh Kloi area where the AOT (Airports of Thailand) has reportedly acquired land for an upcoming Phang Nga airport which will provide Phuket with a second gateway alternative.

Premium land transactions are taking place, with the most notable being the recent trade of the former oceanfront site in Bodan that was to be at various stages first a Raffles and later a Ritz-Carlton Reserve.

Looking at Phuket’s light-rail initiative, one knock-on effect will be the eventual linkage between the island and larger connection to a broader rail terminus in Koh Kloi. This will likely spur real estate speculators to acquire peripheral locations.

As Phang Nga’s West Coast four land highway expansion moves forward to Khao Lak and beyond, Phuket’s Northern neighbor is seeing a renewed push in its tourism, property and infrastructure.

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