Property Perfect Public Company Limited, or PF, and Grande Asset Hotels and Property Public Company Limited, or GRAND, have announced plans to sell 11 plots of land and high-potential assets with a combined value of 12.145 billion baht to boost liquidity and support repayment of debentures and bank debt. Mr. Sanit Atthayanasakul, Chief Executive Officer of PF, said PF's assets comprise 8 items covering approximately 185 rai with a total value of about 6.245 billion baht. Most are land plots adjacent to mass transit systems, such as a 46-rai plot next to Bang Rak Noi Tha It station valued at 2.76 billion baht, and a 3.4-rai plot on Ratchadaphisek Road Soi 17 near Sutthisan station valued at 800 million baht. GRAND has 3 assets worth a combined 5.9 billion baht, including a 92.78-rai beachfront plot in Rayong province valued at 1.6 billion baht, an 8.65-rai plot along the Chao Phraya River on Charoen Nakhon Road valued at 2.5 billion baht, and a luxury condominium near BTS Thong Lo station sold as a bulk lot of 110 units worth 1.8 billion baht in total. Currently PF has 16 series of debentures totaling 5.3979 billion baht, and GRAND has debentures totaling 3.5661 billion baht. The group aims to use proceeds from asset sales to fully reduce its debenture burden and repay part of its bank debt.
GRAND plans to sell assets worth 5.9 billion baht to repay debentures and bank debt, improving liquidity.
PF plans to sell assets worth 6.245 billion baht to boost liquidity and repay debentures and bank debt.
