Company's Overview
The Shareholder's Structure
The company and subsidiaries operate in the property development business, with the focus in single houses and condominiums in the Greater Bangkok.
The subsidiaries and associated companies operate in 5 business :
1. Property development group
2. Rental property and hotel group
3. Retail group
4. Construction group
5. Service group and others
The structure as of 31 December 2023 are as follows
Property Development Units
The company and subsidiaries are mainly involved with the property development for sale. The projects involve the development of single detached houses, townhouses, and condominiums. Details are as follows;
Developing housing estates, town houses and condominiums. As of 31 December 2023, a total of 33 projects are under development with outstanding value of Bt20,872 million.(Additional information on the projects of the company and subsidiaries are in Graphic: Project by Type)
Estate Perfect Company Limited, (“Estate”) is located at 17th Floor, Vorasombat Bldg., 100/1 Rama IX Road, HuayKhwang, Bangkok. It was established in 1994, to develop single detached houses, duplex house and townhouses, with focus on potential locations. Estate is now capitalized at Bt1,200 million at Bt10 par while the paid-up capital totaled Bt1,200 million. The company now owns 100% of Estate.
As of 31 December 2023, Sale of Estate’s 8 projects is underway, and the remaining value of the unsold units is B4,915 million. (Additional information on the projects of the subsidiaries are in Graphic: Project by Type)
As of 31 December 2023, Estate Perfect Company Limited’s 5 directors are :
| Name | Position |
| 1. Ms. Sirirat Wongwattana | Director |
| 2. Mr. Pornswat Katechulasriro | Director |
| 3. Mr. Wicharn Sirivejwarawut | Director |
| 4. Mr. Wason Srirattanapong | Director |
| 5. Mr. Rungroj Singhattanatgige | Director |
Bright Development Bangkok Company Limited (“Bright”) is Located at 17th Floor, Vorasombat Building,100/1 RamaIX Road, HuayKwang, Bangkok, Bright Development was established on 2007 for condominium development.
At present , Bright Development Bangkok Company Limitedis now capitalized at Bt1,500 million, all paid up. The company holds 100% in Bright
As of 31 December 2023, Bright planned 8 condominium projects and the remaining value ofunsold units isBt3,761 million (Additional information on the projects of the subsidiaries are in Graphic: Project by Type).
As of 31 December 2023, Bright Development Bangkok Co.,Ltd’s 5 directors are;
| Name | Position |
| 1. Mr. Wongsakorn Prasitvipat | Director |
| 2. Ms. Sirirat Wongwattana | Director |
| 3. Mr. Pornswat Katechulasriro | Director |
| 4. Mr. Sumeth Suwajanakorn | Director |
| 5. Mr. Surasak Vatchapongpreecha | Director |
Residence Number Nine Company Limited (“Residence”) is located at 17th Floor, Vorasombat Building, 100/1 RamaIX Road, HuayKwang, Bangkok, is capitalized at Bt1,000 million. Owned 100% by the company, The subsidiary is tasked to develop low-rise small-scale housing projects in potential locations. Its target groups are new families, looking for single houses and townhouses valued between Bt1.9-Bt6.0million.
As of 31 December 2023, Residence’s 6 projects are now marketed, The remaining value of unsold units isBt4,872 million. (Additional information on the projects of the subsidiaries are in Graphic: Project by Type)
As of 31 December 2023, Residence Number Nine Company Limited’s 4 directors are:
| Name | Position |
| 1. Mr. Pornswat Katechulasriroj | Director |
| 2. Mr. Annop Angkulsakornsri | Director |
| 3. Mr. Pipat Nittayakosol | Director |
| 4. Mr. Sumeth Suwajanakorn | Director |
Chiangmai Development Company Limited (“Chiangmai”) is located at 17th Floor, Vorasombat Building , 100/1 Rama IX Road, HuayKwang, Bangkok. It is registered with Bt200 million .The company holds 100% in the subsidiary. Established on 21 February 2013, the subsidiary is tasked to expand the company’s residential development business for sale and rental . Its focus is on low-rise development in Chiang Mai province. Chiangmai kicked off land development in preparation for the launch of a property project.
As of 31 December 2023, Chiangmai Development Company Limited’s 4 directors are :
| Name | Position |
| 1. Mr. Wongsakorn Prasitvipat | Director |
| 2. Mr. Pornswat Katechulasriroj | Director |
| 3. Mr. Wason Srirattanapong | Director |
| 4. Mr. Kritapas Pongpakawat | Director |
HKL Perfect Company Limited is a joint venture with HKL (Thai Development) Company Limited which is a business unit of Hongkong Land Company Limited. It was established on 17 May 2018 to invest in a property development project for sale. It is located at 14th Floor, RB-RC unit, Vorasombat Building,100/1 RamaIX Road, HuayKwang, Bangkok. It is registered with Bt40million capital, , all paid up. The company holds 51% in the joint venture.
As of 31 December 2023, HKL Perfect Company Limited’s 4 directors are:
| Name | Position |
| 1. Mr. Wongsakorn Prasitvipat | Director |
| 2. Sirirat Wongwattana | Director |
| 3. William James Park Bright | Director |
| 4. Ong Lay Kuan | Director |
PFHKL 1 Co., Ltd. is a 100%-owned subsidiary of HKL Perfect Co., Ltd, established on 5 March 2018. Located at 14th Floor, Vorasombat Building, 100/1 RamaIX Road, HuayKwang, Bangkok, it engages in the development of a property project for sale in Chaeng Wattana area. It is registered with Bt5 million capital, 100% paid up.
As of 31 December 2023, PFHKL 1 Perfect Company Limited’s 4 directors are:
| Name | Position |
| 1. Mr. Wongsakorn Prasitvipat | Director |
| 2. Mr. Thitiwatk1 Adhyanasakul | Director |
| 3. Ms. Paparwee Assavadakorn | Director |
| 4. Ms. Ong Lay Kuan | Director |
Note: (1)Renamed from Mr.Saranyu Adhyanasakul.
PFHKL 2 Co., Ltd. is a 100%-owned subsidiary of HKL Perfect Co., Ltd, established on 7 March 2018. Located at 20th Floor, Gaysorn Plaza Building, Unit B, 127 Ratchdamri Road, Lumpini, Pathumwan, Bangkok. , it engages in the development of a property project for sale in Chaeng Wattana area. It is registered with Bt5 million capital, 100% paid up.
As of 31 December 2023, PFHKL2 Company Limited’s 4 directors are:
| Name | Position |
| 1. Mr. Lim Tein Meng | Director |
| 2. Mr. Anucha Tantrawanich | Director |
| 3. Mr. Lee Hak Ching Terence | Director |
| 4. Mr. William James Park Bright | Director |
PFHKL 3 Company Limited is a 100%-owned subsidiary of HKL Perfect Company Limited, established on 16 August 2018. Located at 14th Floor, Vorasombat Building, 100/1 Rama IX Road, HuayKwang, Bangkok, it engages in the development of a property project for sale near Suvarnabhumi Airport. It is registered with Bt5 million capital, 100% paid up.
As of 31 December 2023, PFHKL3 Company Limited’s 4 directors are:
| Name | Position |
| 1. Mr. Wongsakorn Prasitvipat | Director |
| 2. Mr. Thitiwatk1 Adhyanasakul | Director |
| 3. Ms. Paparwee Assavadakorn | Director |
| 4. Ms. Ong Lay Kuan | Director |
Note: (1)Renamed from Mr.Saranyu Adhyanasakul.
PFHKL 4 Company Limited is a 100%-owned subsidiary of HKL Perfect Company Limited, established on 27 September 2019. Located at 20th Floor, Gaysorn Plaza Building, Unit B,127 Ratchdamri Road, Lumpini, Pathumwan, Bangkok, it engages in the development of a property project for sale near Suvarnabhumi Airport. It is registered with Bt5 million capital, 100% paid up.
As of 31 December 2023, PFHKL4 Company Limited’s 4 directors are:
| Name | Position |
| 1. Mr. Thitiwatk Adhyanasakul | Director |
| 2. Mr. Lim Tein Meng | Director |
| 3. Mr. William James Park Bright | Director |
| 4. Mr. Lee Hak Ching Terence | Director |
Note: (1)Renamed from Mr.Saranyu Adhyanasakul.
PFHKL 5 Company Limited is a 100%-owned subsidiary of HKL Perfect Company Limited, established on 16 May 2019. Located at 10th Floor, Vorasombat Building, 100/1 Rama IX Road, HuayKwang, Bangkok, it engages in the development of a property project for sale at Chaengwattana Road. It is registered with Bt5 million capital, 100% paid up.
As of 31 December 2022, PFHKL5 Company Limited's 4 directors are:
| Name | Position |
| 1. Ms. Paparwee Assavadakorn | Director |
| 2. Mr. Lee Hak Ching Terence | Director |
| 3. Mr. Thitiwatk1 Adhyanasaku | Director |
| 4. Mr. Lee Hak Ching Terence | Director |
Note: (1)Renamed from Mr.Saranyu Adhyanasakul.
PFHKL 6 Company Limited is a 100%-owned subsidiary of HKL Perfect Company Limited, established on 24 May 2019 Located at 20th Floor, Gaysorn Plaza Building, Unit B,127 Ratchdamri Road, Lumpini, Pathumwan, Bangkok, it engages in the development of a property project for sale at Chaengwattana Road. It is registered with Bt5 million capital, 100% paid up.
As of 31 December 2023, PFHKL6 Company Limited’s 4 directors are:
| Name | Position |
| 1. Mr. Wongsakorn Prasitvipat | Director |
| 2. Mr. Anucha Tantrawanich | Director |
| 3. Ms. Ong Lay Kuan | Director |
| 4. Mr. William James Park Bright | Director |
PF-Sekisui JV Company Limited is a joint venture of the Company and Sekisui Chemical Company Limited which engages in highquality plastic materials and equipment, products related to urban cities’ infrastructure and environment, house construction and other property-related businesses in Japan and other countries. The joint venture is Located at 17th Floor, Vorasombat Building, 100/1 Rama IX Road, HuayKwang, Bangkok. Established on 15 June 2018, it is set to develop property projects for sale. It is registered with Bt200 million capital, fully paid up. The Company owns a 51% stake in the joint venture.
As of 31 December 2023, PF-SEKISUI JV Company Limited’s 4 directors are:
| Name | Position |
| 1. Mr. Rungroj Singhattanatgige | Director |
| 2. Mr. Thitiwatk1 Adhyanasakul | Director |
| 3. Mr. Tetsuji Ando | Director |
| 4. Mr. Kiyanao Mino | Director |
Note: (1)Renamed from Mr.Saranyu Adhyanasakul.
PF Forestry Company Limitedis a joint venture of the Company and Sumitomo Forestry Singapore Ltd. (“Sumitomo”)which is a business unit ofSumitomo Forestry Co.,Ltd., It was established on14 February 2019 to invest in a property development project for sale. Located at Located at 17th Floor, Vorasombat Building, 100/1 Rama IX Road, HuayKwang, Bangkok,It is registered with Bt500 million capital, fullypaid up. The company holds 51% in the joint venture.
As of 31 December 2023, PF Forestry Company Limited’s 4 directors are :
| Name | Position |
| 1. Mr. Wongsakorn Prasitvipat | Director |
| 2. Mr. Surasak Vatchapongpreecha | Director |
| 3. Mr. Yohsuke Matsuoka | Director |
| 4. Mr. Kenji Aiura | Director |
PFS1 Company Limited (Subsidiary)is a 100%-owned subsidiary of PF Forestry Company Limited established on 15 February 2019. Located at 17th floor, Vorasombat Building, 100/1 Rama IX Road, Huay Kwang, Bangkok, it engages in the development of a property project for sale at New Ratchapruek area. It is registered with Bt280 million capital, 100% paid up.
As of 31 December 2022, PFS1 Company Limited's 2 directors are:
| Name | Position |
| 1. Mr. Pipat Nitayakosol | Director |
| 2. Mr. Kenji Aiura | Director |
PFS2 Company Limited (Subsidiary) is a 100%-owned subsidiary of PF Forestry Company Limitedestablished on 15 February 2019. Located at 100/1 Vorasombat Building (10th fl.), Rama IX Road, Huay Kwang, Bangkok, it engages in the development of a property project for sale at New Ratchapruek area. It is registered with Bt210 million capital, fullypaid up.
As of 31 December 2022, PFS2 Company Limited's 2 directors are:
| Name | Position |
| 1. Mr. Suthee Sanongkhun | Director |
| 2. Mr. Keiichiro Yazawa | Director |
Grand River Forest Company Limited is a joint venture of Sumitomo Forestry Company Limited, Grand Asset Hotels and Property Public Company Limited and Property Perfect Public Company Limited, located at 32nd Floor, Exchange Tower, Room 3203-4, 388 Sukhumvit Road, Khlong Toei, Bangkok. Established on 6 July 2018, the joint venture invests in a property development project for sale on Charoennakorn Road. The initial registered capital of Bt1,490 million is fully paid up. The Company holds 9 % direct holding and 17.70% indirect holding.
As of 31 December 2023, Grand River Forest Company Limited’s 4 directors are :
| Name | Position |
| 1. Mr. Sanith Adhyanasakul | Director |
| 2. .Mr. Vitavas Vibhagool | Director |
| 3. Mr. Yohsuke Matsuoka | Director |
| 4. Mr. Yotaro Tanaka | Director |
Grand River Forest Company Limited is a joint venture of Sumitomo Forestry Company Limited, Grand Asset Hotels and Property Public Company Limited and Property Perfect Public Company Limited, located at 32nd Floor, Exchange Tower, Room 3203-4, 388 Sukhumvit Road, Khlong Toei, Bangkok. Established on 6 July 2018, the joint venture invests in a property development project for sale on Charoennakorn Road. The initial registered capital of Bt1,430 million is fully paid up. The Company holds 9% direct holding and 17.70% indirect holding.
As of 31 December 2022, Grand River Forest Company Limited's 4 directors are:
| Name | Position |
| 1. Mr. Sanith Adhyanasakul | Director |
| 2. Mr. Vitavas Vibhagool | Director |
| 3. Mr. Keiichiro Yazawa | Director |
| 4. Mr. Yotaro Tana | Director |
Rental Property and Hotel Group
Thai Property Plc. (TPROP) is located at 29thFloor, CharnIssara Tower 2, 2922/305-306 Petchaburi Road, Bang Kapi, HuayKwang, Bangkok. It was registered as a public company on 10 May 1994 to real estate development.
Thai Property has Bt3,353,702,060 in registered capital and Bt3,193,185,471 is paid-up. The Company owns 94.60% in the subsidiary.Thai Property later sought a voluntary delisting from the Stock Exchange of Thailand and the SET’s board approved the delisting on 9 December 2016.
As of 31 December 2023, Thai Property Public company limited’s 5 directors are :
| Name | Position |
| 1. Dr. Bhichit Rattakul | Chairman |
| 2. Mr. Prasong Vararatanakul | Director |
| 3. Mr. Vitavas Vibhagool | Director |
| 4. Mr. Pramote Rermyindee | Director |
| 5. Mr. Pornswat Katechulasriroj | Director |
(A subsidiary of Thai Property Public Company Limited)
Pacific Estate Development Company Limited is located at 29thFloor, CharnIssara Tower 2, 2922/305 Petchaburi Road, Bang Kapi, HuayKwang, Bangkok. It was registered as a public company on 22 December 1988. At present, it has Bt1,151,100,000 in registered capital, all paid-up. It is 58.77% owned by the Company through the stake in Thai Property. A new project is under feasibility study.
As of 31 December 2023 ,Pacific Estate Development company limited’s 4 directors are :
| Name | Position |
| 1. Dr. Bhichit Rattakul | Chairman |
| 2. Mr. Vitavas Vibhagool Director | Director |
| 3. Mr. Pramote Rermyindee | Director |
| 4. Mr. Pornswat Katechulasriroj | Director |
(A subsidiary of Thai Property Public Company Limited)
Scenery Peak Company Limitedis located at Quastisky Buildings, PO Box 4389, Road Town, Tortola, British Virgin Islands ,It was registered on 12 May 2010.It is registered with US$ 50,000,all paid-up. It is owned 100% by the Company through a stake in Thai Property.
As of 31 December 2023, Scenery Peak Company limited’s 1 director is :
| Name | Position |
| 1. Mr. Pornswat Katechulasriroj | Director |
(A subsidiary of Thai Property Public Company Limited)
Grande Asset Hotels and Property Public Company Limited is located at 32th Floor, Exchange Tower Room 3203-4, 388 Sukhumvit Road, Khlong Toei, Bangkok. It was registered on 7 July 2003. Grande Asset has Bt4,670,560,011.50 in registered capital, with Bt4,670,560,011.50 paid up.It is indirectly owned 35.48 % by the Company through a stake in Thai Property and 8.58 % directly owned by the Company.
Grande Asset Hotels and Property is a hotel operator and property developer. It operates 5 hotelsare as following :
- The Westin Grande Sukhumvit Hotel is located at Soi Sukhumvit19, Bangkok : a 25-floor 5-star hotel with 362 guest rooms.
- .Royal Orchid Sheraton Hotel and Towers is located at Charoenkrung 30, Bangkok: a 28-floor 5-star hotel with 726 guest rooms.
- Sheraton Hua Hin Resort and Spa in Cha-Am, Phetburi province: a 2-floor 5-star hotel with 241 guest rooms.
- Sheraton Hua Hin Pranburi Villas in PranBuri, Prachuab Khiri Khan province: a 5-star hotel with 53 poll villas.
- Hyatt Regency Sukhumvit, an Upper-Upscale hotel, Located at Soi Sukhumvit13 : 31 floor with 273 guest rooms.
And a mixed-use project under development which consists of resort villas, a hotel and a condominium building. The project is located in Rayong, encompassing 93 rai of land on the hilly Laem Mae Phim.
As of 31 December 2023, Grande Asset Hotels and Property had 3 projects on the market –Hyde Sukhumvit 11, Hua Hin Blue Lagoon resort and Amatara Residence Rayong, with the remaining combined value of Bt3,671 million.
(Details appeared in subsidiaries’ projects: Table of products.)
As of 31 December 2023, Grande Asset Hotels and Property Public Company Limited’s 10 directors are:
| Name | Position |
| 1. Mr. Wichai Thongtang | Chairman and Independent Director |
| 2. Dr. Bhichit Rattakul | Vice Chairman and Chief Executive Director |
| 3. Mr. Sanith Adhyanasakul | Director |
| 4. Mr. Vitavas Vibhagool | Director |
| 5. Ms. Wilawun Leongnarktongdee | Director |
| 6. Mr. Suradej Narula | Director |
| 7. Mr. Amarin Narula | Director |
| 8. Mr. Pornchai Kittipanyangam | Independent Director,Risk Management Committee and Chairman of Audit Committee |
| 9. Mr. Chaiwat Utaiwan | ndependent Director,Audit Committee and Chairman of Risk Management Committee |
| 10. Mr. Boonrak Yodpetch | Independent director and Audit Committee |
Note :
Mr.Lothar Richard Pehl resigned from the director on 14 November 2023.
EV Grand Company Limited is located at 32nd Floor, Exchange Tower Buldg., unit 3203-4, 388 Sukhumvit Road, Klong Toei, Bangkok . The company owns a 100% stake in EV Grand through its wholly-owned subsidiary Grande Asset Hotels and Property Plc.EV Grand operates real estate development business, in the process of acquiring land for future development.
As of 31 December 2023, EV Grand Company Limited ‘ s 4 directors are :
| Name | Position |
| 1. Dr. Bhichit Rattakul | Director |
| 2. Mr. Sanith Adhyanasakul | Director |
| 3. Mr. Vitavas Vibhagool | Director |
| 4. Mr. Amarin Narula | Director |
Honor Business Company Limited is locates at 32nd Floor, Exchange Tower Buldg., unit 3203-4, 388 Sukhumvit Road, Klong Toei, Bangkok .The company owns a 100% stake inHonor Business Company Limited through its wholly-owned subsidiary Grande Asset Hotels and Property Plc. Honor Business Company Limited manages Sheraton Hua Hin Resort and Spa Hotel by renting out the property from REIT
As of 31 December 2023, Honor Business’s 5 directors are:
| Name | Position |
| 1. Dr. Bhichit Rattakul | Director |
| 2. Mr. Sanith Adhyanasakul | Director |
| 3. Mr. Vitavas Vibhagool | Director |
| 4. Mr. Amarin Narula | Director |
| 5. Ms. Wilawun Leongnarktongdee | Director |
Royal Orchid Hotel (Thailand) Public Company Limited (“ROH”) is located at 2 Captain Bush Lane, New Road, Bang Rak, Bangkok 10500. It was listed on the Stock Exchange of Thailand on 21 July 1989. ROH has Bt938,917,233 in registered capital, with Bt938,917,233 paid up. A number of 938,917,233 shares at Bt1 par value.Grand holds 910,710,380 sheres or 97%.
ROH mainly engages in a five-star hotel business, with 726 guest rooms and facilities such as function rooms, meeting rooms, facilities for seminars and exhibitions, international restaurants, a swimming pool, a tennis court, and a private wharf. ROH awards the management contract to US-based Sheraton Overseas Management Corporation, USA
As of 31 December 2023, Royal Orchid Sheraton Hotel (Thailand) Public Company Limited’s 12 directors are :
| Name | Position |
| 1. Mr. Wichai Thongtang | Chairman |
| 2. Dr. Bhichit Rattakul | Vice Chairman |
| 3. Mr. Sanith Adhyanasakul | Chief Executive Director / Director |
| 4. Mr. Vitavas Vibhagool | Managing Director / Director |
| 5. Mr. Pramote Rermyindee | Director / Secretary |
| 6. Ms. Wilawun Leongnarktongdee | Director |
| 7. Mr. Amarin Narula | Director |
| 8. Ms. Kanoknat(1) Adhyanasakul | Director |
| 9. Mr. Twatchai Noonpukdee | Independent Director / Chairman of Audit Committee |
| 10. Dr. Seri Wongmonta | Independent Director / Audit Committee |
| 11. Pol.Gen.Aek Angsananont | Independent Director / Audit Committee |
| 12. Mr. Amnuay Preemonwong | Independent Director |
Note : (1) Renamed from Ms.Monchanok Adhyanasakul
Owendelle Company Limited is located at 32nd Floor, Exchange Tower Buldg., unit 3203-4, 388 Sukhumvit Road, Klong Toei, Bangkok. The company owns a 100% stake in Owendelle through its wholly-owned subsidiary Grande Asset Hotels and Property Plc..Owendelle Company Limited owns the lease rights for the land which locates Sheraton Hua Hin Pranburi Villa as well buildings on the land.
As of 31 December 2023, Owendelle Company Limited’s 5 directors are :
| Name | Position |
| 1. Dr. Bhichit Rattakul | Director |
| 2. Mr. Sanith Adhyanasakul | Director |
| 3. Mr. Vitavas Vibhagool | Director |
| 4. Mr. Amarin Narula | Director |
| 5. Ms. Wilawun Leongnarktongdee | Director |
Grand Global Gloves Company Limited is a joint venture of Grande Asset Hotels and Property Public Company Limited and Watanachai Rubber Mate Company Limited. Established on 9 November 2020, it is located at 4 Soi Ramkhamhaeng 19 (Chareon Ploy) Khwaeng Hua mak Khet Hua Mak, Bangkok. It is capitalized at Bt350 million and Bt162.50 million was paid up. The Company’s indirect holding, through Grande Asset Hotels and Property Public Company Limited, was 50.50%. Grand Global Gloves manufacturers and distributes medical rubber gloves. The machinery installation is underway at its factory in TFD Industrial Estate 2 , Chachoengsao.
As of 31 December 2023, Grand Global Gloves Company Limited’s 4 directors are :
| Name | Position |
| 1. Dr. Bhichit Rattakul | Director |
| 2. Mr. Sanith Adhyanasakul | Director |
| 3. Ms. Benchamad Kongwaree | Director |
| 4. Ms. Patwira Nithipornpim | Director |
Property Perfect International Pte.Ltd. (PPI), located at 9 Raffles Place #17-01 SBF Center Singapore 068914, established on 12 July 2012, has paid-up capital of 1 Singapore dollar. Owned 100% by the Company, PPI will invest in overseas property development business. Property Perfect International holds 68.28% in Kiroro Resort Holdings and the company holds 31.42%
As of 31 December 2023, Property Perfect International Pte.Ltd’s 3 directors are:
| Name | Position |
| 1. Mr. Sanith Adhyanasakul | Director |
| 2. Mr. Arangannal S/O Kathamuthu | Director |
| 3. Mr. Thitiwatk1 Adhyanasaku | Director |
Note:(1) Renamed from Mr.Saranyu Adhyanasakul.
Kiroro Resort Holdings (Renamed from Share Group Since November 2014, located at 128-1 Tokiwa, Akaigawa-mura, Yoichigun, Hokkaido, Japan, is incorporated under the Japanese law for the investment in property development and hotel business. the Board of Directors approved Kiroro Resort Holdings’s investment in all shares of and loan claims against Kabushiki Kaisha Kiroro Associates Company Limited, from Mitsui Fudosan Resort Company Limited. The 100% shares were bought at the cost of 1 yen, or approximately Bt0.4050 (at the exchange rate of 100 yen for Bt40.50) .Kiroro Resort Holdings will also take over the claim on a loan to Kabushiki Kaisha Kiroro Associates from Mitsui Fudosan Company Limited. The loan is valued at 1,300.6 million yen, it is worth Bt526.7 million. The claim is valued 68 From 56-1 One Report 2023 at 160,000,000 yen or Bt64.8 million
KRH won the approval to buy Kiroro Resort’s assets from Mitsui Fudosan Resort Co.,Ltd. For 1,039.99 million yen or approximately Bt425.2 million. The assets covered 292-rai land, 2 hotel buildings (422 rooms), and ski assets and equipment. The combined transaction price was 1,200 million yen or Bt490 million. Inclusive of 700 million yen or Bt280 million transfer tax, the transaction was totally valued at 1,900 million yen or approximately Bt770 million. On 22 November 2021, the ski and hotel business in Japan was sold to GODO KAISHA KIRORO MANAGEMENT (GKKM) และ NAPIER TOKUTEI MOKUTEKI KAISHA (NAPIER TMK).
Property Perfect Public Company Limited’s direct holding in KRH was at 31.42% while PPI’s holding was 68.28%. KRH’s paid-up capital is 2,272,246,451 yen.
As of 31 December 2023, Kiroro Resort Holdings Company Limited’s 6 directors are :
| Name | Position |
| 1. Mr. Piyasvasti Amranand | Chairman |
| 2. Mr. Sanith Adhyanasakul | Director |
| 3. Mr. Vitavas Vibhagool | Director |
| 4. Mr. Jesd Jesdpiyawong | Director |
| 5. Mr. Thitiwatk1 Adhyanasakul | Director |
| 6. Lim Tein Meng | Director |
Note:(1) Renamed from Mr.Saranyu Adhyanasakul
Hokkaido Holiday Service (HHS) is located at 128-1 Tokiwa, Akaigawamura, Yoichigun, Hokkaido, Japan. Registered as a legal entity under Japanese law on 19 June 2019, it is a joint venture of Kiroro Resort Holdings and Niseko Alpine Developments Company Limited (NISADE). It was established to manage Yu Kiroro condominium units and provide accommodation brokering services. It is capitalized at 5,000,000 yen or 100 shares at 50,000 yen apiece. The capital was fully paid-up. Kiroro Resort Holdings’ 51% stake is valued at 2,550,000 yen or Bt671,053.
In June 2020, KRH acquired the remaining 49% stake from NISADE which increased its direct holding in HHS to 100%.
In June 2020, NHS’s capital was raised by 5,000,000 yen or 100 shares at 50,000 yen apiece. KRH’s loan worth 31 million yen was also converted to equity, for 620 shares at 50,000 yen apiece. HHS’s paid-up capital is currently 41,000,000 yen.
As of 31 December 2023, Hokkaido Holiday Service Company Limited’s 3 directors are :
| Name | Position |
| 1. Mr. Thitiwatk1 Adhyanasakul | Director |
| 2. Mr. Napong Panthong | Director |
| 3. Mr. Nakano Takashi | Director |
Note:(1) Renamed from Mr.Saranyu Adhyanasakul
Kiroro Alpine Estate (KAE) is located at 128-1 Tokiwa, Akaigawamura, Yoichigun, Hokkaido, Japan. Registered under Japanese law, it was established on 23 September 2020 with 1,000,000 yen in paid-up capital. KAE operates a property development business. The Company holds a 100% stake in the company.
As of 31 December 2023, Kiroro Alpine Estate Company Limited’s 1 director is:
| Name | Position |
| 1. Mr. Thitiwatk1 Adhyanasakul | Director |
Note:(1) Renamed from Mr.Saranyu Adhyanasakul
Retail Business Group
We Retail Public Company Limited (“We Retail”) is located at 2nd Floor, Metro Town, UnitD2-03, Kanlapaphuek Road, Bang Wah, Phasi Chareon, Bangkok. Formerly named Daidomon Group Public Company Limited (“Daidomon”) , It was registered as a public company on 27 April 2001. We Retail acquired the 99.99% stake of Centrepoint Shopping Mall Company Limited (“Centrepoint”), which develops shopping malls, office buildings and commercial space .and We Retail also holds a 50% stake in All Discount Co Ltd, a low-cost retail business operator. The discount store business was ceased as We Retail has shifted to become a distributor of rubber gloves for domestic and foreign clients.
The company is now capitalized at Bt4,761,824,999.40 with Bt 2,615,114,338.20 paid up, consisting 2,490,585,084shares or Bt 1.05 par value. The company hold 94.98 %.
We Retail is carrying out the development of an open shopping complex in the West of Bangkok. The community malls, namely Metro Town (Renamed from Metro West Town).
As of 31 December 2023, We Retail public company limited’s 6 directors are :
| Name | Position |
| 1. Dr. Sathit Limpongpan | Chairman |
| 2 .Mr. Sanith Adhyanasakul | Director |
| 3. Mr. Pornswat Katechulasriroj | Director |
| 4. Mr. Paiboon Udomkarnkij | Director |
| 5. Mr. Chaiyakorn Boonlapapat | Independent Director and Audit Committee |
| 6. Mr. Krittapas Pongpakawat | Director |
Centrepoint Shopping Mall Company Limitedis located at 2nd Floor Metro Town,unit D2-03., 212/3 Kulla Prapruek Rd., Bang Wah, Phasi Charoen, Bangkok. Established in December 2007. Centrepoint focuses on commercial development like shopping malls and rental office building.
Centrepoint Shopping Mall Company Limited owns the leasing rights of a some of a land plot on the east side of Ratchadapisek Road, planned for the development of a closed shopping mall and an office building. In August 2012, it won the leasing right for an opposite land plot on the west side of Ratchadapisek Road, which is aloso planned for the development of a closed shopping mall.
As of 31 December 2023, Centrepoint Shopping Mall company limited’s 5 directors are:
| Name | Position |
| 1. Mr. Sanith Adhyanasakul | Director |
| 2. Mr. Pramote Remyindee | Director |
| 3. Mr. Pornswat Katechulasriroj | Director |
| 4. Mr. Paiboon Udomkarnkij | Director |
| 5. Mr. Sumeth Suwatjanakorn | Director |
(We Retail’s Joint Venture)
All Discount Company Limitedis located at 21St floor., The Trendy Bdlg.,unit 2102C, 10/171 Sukhumvit Road, Khlongtan Nua, Wattana, Bangkok. Established in March 2016 , All Discount will develop and operate a nuveau low-cost retail business. It is capitalized at Bt100 million (1,000,000 shares at Bt100 par value), all paid-up. We Retail holds a 25% stake. All Discount has ceased a discount store business and is now a distributor of rubber gloves for domestic and foreign markets.
As of 31 December 2023 , All Discount Company Limitedis’s 4 directors as follows :
| Name | Position |
| 1. Mr. Sanith Adhyanasakul | Director |
| 2. Mr. Pornswat Katechulasriroj | Director |
| 3. Mr. Pisit Pusanakom | Director |
| 4. Mr. Atiwat Pakpaphada | Director |
Ram Intra Mall was established in 2004 as Mariya Stuff. In August 2013, the Company bought all 100% shares of Mariya Stuff from its shareholders for Bt350 million. Mariya Stuff’s old shareholders had no connection with the Company. Through the purchase, the Company took control of the lease rights over a 34-rai land plot in Tambon Bueng Kum, Bang Kapi district, Bangkok. The 30-year lease period started from 9 April 2013 to 31 March 2043. The land is planned to house a shopping mall, which is being studied.
In August 2014, Mariya Stuff extended the lease by another 3 years (1 April 2043 through 31 March 2046). It was renamed to Ram Intra Mall in September 2014. In June 2016, the lease was extended by another 3 years (from 1 April 2046 to 31 March 2049).
Ram Intra Mall is located at 17th Floor, Vorasombat Building, 100/1 RamaIX Road, HuayKwang, Bangkok. It is registered with Bt350 million capital. The company holds 100% in the subsidiary.
As of 31 December 2023, Ram Intra Mall company Limited’s 2 directors are:
| Name | Position |
| 1. Mr.Sanith Adhyanasakul | Director |
| 2. Mr. Pramote Remyindee | Director |
Construction Business Group
U & I Construction Bangkok Company Limited (“U & I”), is located at 2nd Floor Metro Town,unit D2-04, 212/3 Kallapapruek Rd., Bang Wah, Phasi Charoen, Bangkok. Established in April 2011, it has Bt100 million in registered capital ,all paid up. The company holds 100% in U & I.
U & I’s main objective is to offer services to construct single detached houses, duplex houses, townhouses and condominiums for the company and subsidiaries. As it will be securing direct contracts from the group, this will promise construction flexibility for the group and allow the company a better management on supply chain. The company also selected sub-contractorsto control the construction cost and construction period, as well as ensure effective control on the construction volume and quality.
As of 31 December 2023, U & I Construction Bangkok Company Limited ’s 3 directors are :
| Name | Position |
| 1. Mr. Surasak Vatchapongpreecha | Director |
| 2. Mr. Sumeth Suwatjanakorn | Director |
| 3. Mr. Pipat Nitayakosol | Director |
Perfect Prefab Company Limited (“Perfect Prefab”) is located at 3rd Floor Metro Town,unit D3-05, 212/3 Kanla Papruek Rd., Bang Wah, Phasi Charoen, Bangkok. Established in June 2011, it has Bt60 million in registered capital, The company holds 100% in Perfect Prefab.
The company established to manufacturer and install prefab structures, which are parts of single houses, townhouses and project fences, as well as condominiums. The automated production system is to ensure no effect from labor shortage. The company expects to benefit from the joint venture’s prefab technology. It now manufactures prefab materials for the Company’s projects, with the capacity to supply materials for the construction of 1,000 housing units per year.
As of 11 March 2023, Perfect Prefab Company Limited’s 7 directors are :
| Name | Position |
| 1. Mr. Wicharn Sirivejwarawut | Director |
| 2. Mr. Surasak Vatcharapongpreecha | Director |
| 3. Mr. Vorasak Chakrapiyanant | Director |
| 4. Mr. Annop Angkunsatornsri | Director |
| 5. Mr. Rungroj Singhattanatgige | Director |
| 6. Mr. Pipat Nitayakosol | Director |
| 7. Mr. Prakit Rerkpreedapong | Director |
Services and Utitlities Business Group
Perfect Sport Club Company Limited (“Perfect sport Club”) is located at 134 kanla Papruek Rd., Bang Wah, Phasi Charoen, Bangkok, was established in February 2003. it was capitalized at Bt50 million, with Bt50 million paid-up. The Company owns 100%.
Perfect Sport Club operates fitness clubs and sport clubs of company and subsidiaries.
As of 31 December 2023, Perfect Sport Club Company Limited’s 4 directors are :
| Name | Position |
| 1. Mr. Surasak Vatcharapongpreecha | Director |
| 2. Mr. Krittapas Pongpakawat | Director |
| 3. Mr .Natawee Jirawechanon | Director |
| 4. Mr. Pornswat Katechulasriroj | Director |
Thai Connect 2019 Company Limited is located at 17th Floor, Vorasombat Building, 100/1 Rama IX Road, HuayKwang, Bangkok. Established in July 2011, it has Bt100,000 in registered capital. It is 100% owned by the company.In August 2013, the registered capital was raised to Bt5,000,000 and 25% of the capital increase or Bt1,225,000, has paid-up capital of Bt.1,325,000 . It is designated to operate the Group’s rental properties.
As of 31 December 2023, Thai Connect 2019 Company Limited’s 3 Directors are :
| Name | Position |
| 1. Mr. Thitiwatk1 Adhyanasakul | Director |
| 2. Mr. Natthaphon Sueb-Am | Director |
| 3. Mr. Jesd Jesdpiyawong | Director |
Note: (1)Renamed from Mr.Saranyu Adhyanasakul.
T Utilities Company Limited is located at 116/1, Silom Road, Suriyawong sub-district, Bang Rak district, Bangkok. Established on 8 December 2015, it has Bt300 million in registered capital. all paidup. It is 45% owned by the company. T Utilities operates through co-investment in utilities companies and projects.
As of 31 December 2023, T Utilities Company Limited’s 5 Directors are :
| Name | Position |
| 1. Dr. Bhichit Rattakul | Director |
| 2. Mr. Sanith Adhyanasakul | Director |
| 3. Mr. Kriangkrai Pheanvitayasakul | Director |
| 4. Ms. Aunada Phruttinarakorn | Director |
| 5. Mr. Nandhapon Patpongpanit | Director |
TU1 Company Limited is located at 116/1, Silom Road, Suriyawong sub-district, Bang Rak district, Bangkok. Established on 3 July 2017, it has Bt70,000,000 in registered capital with Bt17.5 million paid-up. It is 45% owned by the company. T1 Utilities operates to investment in utilities companies and projects.
As of 31 December 2023, TU1 Company Limited’s 5 Directors are :
| Name | Position |
| 1. Mr. Jesd Jesdpiyawong | Director |
| 2. Mr. Kriangkrai Pheanvitayasakul | Director |
| 3. Mr. Nandhapon Patpongpanit | Director |
| 4. Mr. Withawint Srisuriyachan | Director |
| 5. Mr. Kris Kridakorn | Director |
TU2 Company Limited is located at 116/1, Silom Road, Suriyawong sub-district, Bang Rak district, Bangkok. Established on 3 July 2017, it has Bt100,000,000 registered capital with Bt25,750,000 paid-up. It is 45% owned by the company. T2 Utilities operates to investment in utilities companies and projects.
As of 31 December 2023, TU2 Company Limited’s 5 Directors are :
| Name | Position |
| 1. Mr. Jesd Jesdpiyawong | Director |
| 2. Mr. Kriangkrai Pheanvitayasakul | Director |
| 3. Mr. Nandhapon Patpongpanit | Director |
| 4. Mr. Withawint Srisuriyachan | Director |
| 5. Mr. Kris Kridakorn | Director |
TU3 Company Limited is located at 116/1, Silom Road, Suriyawong sub-district, Bang Rak district, Bangkok. Established on 3 July 2017, it has Bt10,000,000 registered capital ,all paid up. It is 45% owned by the company.T3 Utilities operates to investment in utilities companies and projects.
As of 31 December 2023, TU3 Company Limited’s 5 Directors are:
| Name | Position |
| 1. Mr .Jesd Jesdpiyawong | Director |
| 2. Mr. Kriangkrai Pheanvitayasakul | Director |
| 3. Mr. Nandhapon Patpongpanit | Director |
| 4. Mr. Withawint Srisuriyachan | Director |
| 5. Mr. Kris Kridakorn | Director |
TU5 Company Limited is located at 116/1, Silom Road, Suriyawong sub-district, Bang Rak district, Bangkok. Established on 3 July 2017, it has Bt10,000,000 registered capital,all paid up. It is 45% owned by the company. T5 Utilities operates to investment in utilities companies and projects.
As of 31 December 2023, TU5 Company Limited’s 5 Directors are:
| Name | Position |
| 1. Mr. Jesd Jesdpiyawong | Director |
| 2. Mr. Kriangkrai Pheanvitayasakul | Director |
| 3. Mr. Nandhapon Patpongpanit | Director |
| 4. Mr. Withawint Srisuriyachan | Director |
| 5. Mr. Kris Kridakorn | Director |
TU6 Company Limited is located at 116/1, Silom Road, Suriyawong sub-district, Bang Rak district, Bangkok. Established on 3 July 2017, it has Bt100,000,000 registered capital with Bt50.5 million paid-up. It is 45% owned by the company.T6 Utilities operates to investment in utilities companies and projects.
As of 31 December 2023, TU6 Company Limited’s 4 Directors are:
| Name | Position |
| 1. Mr. Jesd Jesdpiyawong | Director |
| 2. Mr. Kriangkrai Pheanvitayasakul | Director |
| 3. Mr. Nandhapon Patpongpanit | Director |
| 4. Mr. Withawint Srisuriyachan | Director |
Social Enterprise and Community Energy Company Limited is located at 116/1, 4th floor of Lux Building on Silom Road, Suriwong, Bang Rak, Bangkok. It was established on 19 June 2018 with Bt1 million in registered and paid-up capital. The Company holds a 60% stake in the company which grows agricultural products for sale.
As of 31 December 2023, Social Enterprise and Community Energy Company limited’s 3 Directors are:
| Name | Position |
| 1. Mr. Nandhapon Patpongpanit | Director |
| 2. Mr. Withawint Srisuriyachan | Director |
| 3. Mrs. Chanissara Chuang | Director |
