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Bangkok Post

Business

PSH to rejig precast business via transfer

PSH GEL CapitaLand SET Taiwan Singapore

Mr Uten, left, shakes hands with Thitipong Tangpoonphonvivat, director of General Engineering Plc at a signing ceremony marking the share swap agreement.

SET-listed developer Pruksa Holding Plc (PSH) will dilute its shares in the precast business through a share swap with General Engineering Plc (GEL) and will co-invest in logistics with Singaporean real estate firm Capitaland and Taiwan developer Ally Logistics Property to boost recurring income.

Uten Lohachitpitaks, PSH's group chief executive, said the company would restructure its precast business via an entire business transfer of Quartz Holding 1, one of its subsidiaries in which it held a 100% stake, to GEL.

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