Housing Company (President: Shunichi Sekiguchi) of SEKISUI CHEMICAL CO., LTD. (hereinafter, “SEKISUI CHEMICAL”) has concluded an agreement with Property Perfect Public Company Limited (hereinafter, “PF”), one of the leading real estate developers in Thailand, to establish a joint venture for housing estate development business. Because of PF’s outstanding capability to gather property information and its expertise in development and sales of land for residential use, the company is regarded as a prominent business partner in the housing estate development business. The new joint venture will begin with the sales of housing estates worth roughly 7 billion yen in total sales (approximately 70 lots) on existing land for residential use currently owned by PF.
In 2009, SEKISUI CHEMICAL established joint ventures in Thailand for prefabricated modular house production and sales (SEKISUI-SCG INDUSTRY CO., LTD. and SCG-SEKISUI SALES CO., LTD.; hereinafter, “existing joint ventures”). In 2013, SEKISUI CHEMICAL completed its mass-production plant for prefabricated modular houses, and has supplied more than 800 such houses of outstanding quality and performance, earning customer praise for the quality and comfort of the houses and for its outstanding after-sales services. The prefabricated modular houses are scheduled to be supplied by the existing joint ventures for the housing estate development business of the new joint venture.
Overview of the new joint venture
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Company name |
PF-SEKISUI JV CO., LTD. |
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Business description |
Housing estate development business |
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Capital |
200 million Thai baht (approx. 690 million yen, at the exchange rate of 3.43 yen per baht) |
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Head Office |
Bangkok, Thailand |
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Equity ratio |
SEKISUI CHEMICAL: 49%; PF: 51% |
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Scheduled start of sales |
January 2019 |
Overview of Property Perfect PCL
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Company representative |
Chainid Adhyanasakul (CEO) |
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Business description |
Real estate developer |
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Head Office |
Bangkok, Thailand |
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Total sales (2017) |
16,731 million Thai baht (on a consolidated basis) |
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Number of employees |
972 |
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* |
PF operates in a wide range of real estate business, including detached houses, townhouses, condominiums, and other residential business, as well as hotel management and other resort development. The company has collaborated with the existing joint ventures in the past for 43 units (supplied in 2010–2013). |
Reference information:
◆ Overview of SEKISUI-SCG INDUSTRY CO., LTD.
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Business description |
Prefabricated modular house production |
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Plant location |
Saraburi, Thailand |
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Equity ratio |
SEKISUI CHEMICAL: 51%; SCGCBM: 49% |
◆ Overview of SCG-SEKISUI SALES CO., LTD.
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Business description |
Prefabricated modular house sales, construction, and after-sales services |
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Head Office |
Bangkok, Thailand |
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Equity ratio |
SEKISUI CHEMICAL: 49%; SCGCBM: 51% |
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* |
SCGCBM: |
SCG CEMENT-BUILDING MATERIALS CO., LTD. |
Disclaimer
This press release may contain forward-looking statements. Such forward-looking statements are based on current expectations and beliefs and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements due to changes in global economic, business, competitive market and regulatory factors.