Singha Estate Public Company Limited

S Hotels & Resorts Public Company Limited, or SHR, a subsidiary of Singha Estate, announced the successful offering of bonds worth a total of 1.7 billion baht, with a maturity of 2 years and 9 months and a fixed interest rate of 4.50% per year. The bonds were offered to the general public between 14 and 16 September 2026 and drew a strong response from investors, allowing the company to close the offering in full as targeted. Chief Executive Officer Michael Marshall said the strong reception reflects confidence in SHR's business fundamentals and growth potential, and thanked its five financial partners: Krungthai Bank, Kasikornbank, Asia Plus Securities, Krungthai XSpring Securities, and Land and Houses Securities. The proceeds will be used to support the repayment of maturing bonds and to fund investment in projects to renovate and upgrade the company's hotel assets. The bonds received a credit rating of BBB-, which is at investment grade, from TRIS Rating.

Singha Estate, or S, has joined forces with UOB Thailand to launch the "Singha Estate x UOB Wealth: Legacy Wealth Edition" campaign under the concept "Elevating Wealth. Defining Legacy." This initiative connects homeownership with financial planning and wealth management, covering both new buyers and existing residents in Singha Estate's residential portfolio. It is driven by three core pillars: Wealth Access, Beyond Living, and Legacy Community. UOB Privilege Banking customers will receive an average home loan interest rate of just 1.90% per annum for the first three years, and UOB's affluent customers who purchase Singha Estate projects will receive cash rebates of up to 500,000 baht, along with free common area fees for up to three years. The campaign runs from August 17 to December 30, 2026, with mortgage registration required by January 29, 2027.

S Hotels and Resorts Public Company Limited (SHR), under Singha Estate, has announced an interest rate of 4.50% per annum for its 2-year 9-month bonds, with interest paid every 3 months. The bonds will be offered to the general public from September 14-16, 2026, through 5 leading financial institutions. The bonds have been rated BBB- by Tris Rating, which is an investment grade, while the company itself is rated BBB with a Stable outlook. Mr. Michael Marshall, CEO of SHR, stated that this bond issuance reflects confidence in the business fundamentals, and the proceeds will be used to repay existing bonds and support major hotel renovations. The underwriters expect the bonds to attract investor interest similar to previous Singha Estate bond offerings.

Singha Estate reported total revenue for the first half of 2026 reached 6.153 billion baht, with second-quarter revenue of 2.89 billion baht, and more than 90% coming from recurring income businesses. The EBITDA margin rose to 26%. The office rental business posted revenue of 645 million baht, up 9%, and normalised profit set a new record high of 323 million baht, up 38%. The industrial estate and infrastructure business recorded revenue of 90 million baht, surging nearly threefold, driven by the recognition of land title transfers covering 13 rai, with plans to transfer additional land to data centre operators in the second half of the year. The hotel business in Fiji achieved an average occupancy rate of nearly 90%, and average revenue per room set a new record high of 625 Fijian dollars. The One River Rama 3 joint venture project has sold out and is expected to be handed over in late 2026.

Prime Minister Anutin Charnvirakul held talks with Huawei executives, with the company looking to expand its investment in AI and cloud in Thailand, building on cooperation in digital technology and workforce development. The government is ready to support Huawei as a technology partner to elevate Thailand towards an AI-driven economy. Earlier, Chinese Big Tech groups confirmed investment plans in Thailand worth over 70 billion baht this year in high-tech industries such as optical transceiver equipment for data centers, semiconductors, and expanding EV production capacity through the BOI's Thailand FastPass policy. Research views that the data center and digital economy theme in Thailand will continue to attract Chinese capital, a positive for industrial estate groups like WHA, AMATA, PIN, and S, as well as power plant groups such as GULF, GPSC, and GUNKUL.