Two Dragons of Yaowarat - Ratchawong districts join forces through two business groups with further investment to strengthen the alliance and drive the Thai economy
September 30, 2022, Bangkok, Thailand - BTS Group Holdings Public Company Limited (BTS) and Saha Pathana Inter-Holding Public Company Limited (SPI) under an investment holding arm of Saha Group announced a cooperation as shareholders of Thanulux Public Company Limited (TNL).
Through this cooperation and restructuring, the two organisations will amplify TNL’s market value which will be worth more than THB 10bn.
Mr. Keeree Kanjanapas, Chairman of the Executive Committee of BTS Group said that, after the signing cooperation today, TNL will drive its business with Mr. Thamarat Chokwatana, who leads as Chairman of the Board; will begin to expand its businesses by investing into the big-ticket lending through Oxygen Asset Co., Ltd (Oxygen).
TNL will begin its expansion by investing within the secured lending business through investments in Oxygen worth approximately THB 4.3bn. Founded in 2021, Oxygen provides financing to customers, notably within the real estate industry. Its current portfolio stands at THB 2.5bn and focuses on securing large loans from clienteles. Additionally, it is anticipated that once the transaction date (subject to shareholder’s approval) has finalised, TNL will expand its operations into the collateral asset management business bringing the total of its investment portfolio to THB 3.5bn.
TNL will also jointly invest in high-potential real estate development projects with Noble Development Public Company Limited (NOBLE), through investments in seven more projects at a total value of more than THB 2.4bn. The total asset valuation from its initial business expansion stages is more than THB 6.7bn in value.
Mr. Boonsithi Chokwatana, Chairman of the Board of SPI said that, once again it is a pleasure that both organisations have invested in businesses together and believe that through this partnership it will be an extension to other businesses in the future; and also, an important milestone in raising the level of the alliances of Saha Group.
Both BTS Group and Saha Group are ready to be the foundation that propels the Thai economy. Both organisations having strong relation ties of more than 6 decades through friendship in doing businesses across 3 generations. It started from the pioneering generation of Dr. Thiam Chokwatana, the Founder of Saha Group and Mr. Mongkol Kanjanapas; having both lived in the old commercial district of Chinese people, namely Yaowarat Road, Dynasty and Songwad.
Pioneered businesses before WWII to the good relationship of the second generation is Mr. Boonsithi Chokwatana and Mr. Keeree Kanjanapas from the close friendship of both generations. And has been passed on to the third-generation heirs, resulting in both organisation having views and visions in doing businesses that complement each other leading to strategic business alliances. It is also important step to strengthen both organisations through succession of business concepts. Both in honesty and integrity towards building a stable and sustainable Thai economic base.