DOCSLIB.ORG

TRANSLATED VERSION - Opinion Report of the Independent Financial Advisor

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
TRANSLATED VERSION - Opinion Report of the Independent Financial Advisor Enclosure 6 - TRANSLATED VERSION - Opinion Report of the Independent Financial Advisor Regarding An Asset Acquisition Transaction and Transactions between DREIT and Persons Related to REIT Manager and Trustee For The Trust Unitholders of Dusit Thani Freehold and Leasehold Real Estate Investment Trust Prepared by I V Global Securities Public Company Limited April 3, 2019 The English Translation of the Independent Financial Advisor’s Opinion Report has been prepared solely for the convenience of foreign trust unitholders of Dusit Thani Freehold and Leasehold Real Estate Investment Trust and should not be relied upon as the definitive and official document. The Thai language version of the Independent Financial Advisor’s Opinion Report is the definitive and official document and shall prevail in all aspects in the event of any inconsistency with this translation. Table of Content Page Preface 1 Executive Summary 3 Part 1 Characteristics & Details of the Transaction 11 1.1 Characteristics and Details of Asset Acquisition and Connected Transaction 11 1.1.1 Objective and Background of the Transaction 11 1.1.2 Type and Transaction Size 15 1.1.3 Date of the Transaction 16 1.1.4 Parties Involved and Relationship 16 1.1.5 Details of Acquired Asset that DREIT additionally invest in 19 1.1.6 Total Value of Consideration / Total Value of Investment and 25 Basis Used to Determine the Value of Total Consideration Paid 1.1.7 Source of Fund to the Transaction 27 1.1.8 Related Agreements 27 1.1.9 Conditions to the Transaction 28 1.2 Key Information of Dusit Thani Freehold and Leasehold Real Estate 28 Investment Trust 1.3 Summary of Key Information of the Related Agreements 28 Part 2 Reasonableness of the acquisition of the additional investment assets no. 1 of 29 DREIT and entering into the transaction with related persons of the REIT Manager 2.1 Objective and necessity of Entering into Transaction 29 2.2 Advantages, Disadvantages and Risk of entering into the asset acquisition Transaction 29 2.3 Advantages and disadvantages of entering into the asset acquisition Transaction 33 with Connected Person 2.4 Impact on the existing trust unit holders 34 2.5 Investment Return Analysis 36 Part 3 Reasonableness of Subleasing and Leasing of the Additional Investment 49 Assets no. 1 and entering into the transaction with the person related to REIT Manager 3.1 Objective and necessity of the Transaction 49 3.2 Advantages and disadvantages of entering into the Transaction with 50 person related to REIT Manager 3.3 Risks that may arise from entering into Transaction 51 3.4 Appropriateness of the Transaction Value and the Conditions of the Transaction 51 Part 4 Reasonableness of the borrowing and the provision of collateral and entering into 53 the conflicting interest transaction between DREIT and the person related to the Trustee 4.1 Objective and necessity of entering into transaction 53 4.2 Advantages and disadvantages of entering into the Transaction with the person related to 54 the Trustee 4.3 Risks that may arise from entering into transaction 55 4.4 Appropriateness of Price and Terms of the transaction 57 Part 5 Conclusion of Opinion of Independent Financial Advisor 59 Appendix 1 Key information of Dusit Thani Freehold and Leasehold Real Estate Investment Trust (“DREIT”) Appendix 2 Summary of Pertinent Agreements and Draft Agreements GLOSSARY Glossary used in this report have not been sorted by alphabet but sorted by category for convenient in reading Abbreviation Meaning SEC The Securities and Exchange Commission SET The Stock Exchange of Thailand DREIT Dusit Thani Freehold and Leasehold Real Estate Investment Trust DTC Dusit Thani Public Company Limited DMCO Dusit Management Co., Ltd. “Company” or Dusit Thani Property REIT Co., Ltd. “REIT Manager” DTPP Dusit Thai Properties Public Company Limited DMS2 Dusit Maldives Investment Co., Ltd. The company will be newly established and then DREIT will hold 100% of its shares. DMS3 Dusit Maldives Management Co., Ltd. KTAM or “Trustee” Krung Thai Asset Management Public Company Limited MBK MBK Hotels and Resorts Co., Ltd. DTCPF Dusit Thani Freehold and Leasehold Property Fund Independent Financial I V Global Securities Public Company Limited Advisor or “IFA” Financial Advisor CIMB Thai Bank Public Company Limited Legal Advisor Charin & Associates Limited Accounting Advisor KPMG Phoomchai Holdings Co., Ltd. Tax Advisor EY Corporate Services Limited Independent Property Property Appraiser Company approved by the Office Securities and Appraiser Exchange Commission, which are KhightFrank and/or HVS-Nexus in this report KnightFrank Knight Frank Chartered (Thailand) Co., Ltd HVS-Nexus Bangkok Hospitality Consulting Services Company Limited (by Nexus Property Consultants Company Limited) ADR Average Daily Rate DCF Discounted Cash Flow EBITDA Earnings before interest, taxes, depreciation and amortization Enterprise Value (EV) Enterprise Value Equity Value Equity Value FCFF Free Cash Flow to Firm GOP Gross Operating Profit IRR Internal Rate of Return NOI Net Operating Income OCC Occupancy Rate RevPAR Revenue Per Available Room WACC Weighted Cost of Capital Table of Content Page Preface 1 Executive Summary 3 Part 1 Characteristics & Details of the Transaction 11 1.1 Characteristics and Details of Asset Acquisition and Connected Transaction 11 1.1.1 Objective and Background of the Transaction 11 1.1.2 Type and Transaction Size 15 1.1.3 Date of the Transaction 16 1.1.4 Parties Involved and Relationship 16 1.1.5 Details of Acquired Asset that DREIT additionally invest in 19 1.1.6 Total Value of Consideration / Total Value of Investment and 25 Basis Used to Determine the Value of Total Consideration Paid 1.1.7 Source of Fund to the Transaction 27 1.1.8 Related Agreements 27 1.1.9 Conditions to the Transaction 28 1.2 Key Information of Dusit Thani Freehold and Leasehold Real Estate 28 Investment Trust 1.3 Summary of Key Information of the Related Agreements 28 Part 2 Reasonableness of the acquisition of the additional investment assets no. 1 of 29 DREIT and entering into the transaction with related persons of the REIT Manager 2.1 Objective and necessity of Entering into Transaction 29 2.2 Advantages, Disadvantages and Risk of entering into the asset acquisition Transaction 29 2.3 Advantages and disadvantages of entering into the asset acquisition Transaction 33 with Connected Person 2.4 Impact on the existing trust unit holders 34 2.5 Investment Return Analysis 36 Part 3 Reasonableness of Subleasing and Leasing of the Additional Investment 49 Assets no. 1 and entering into the transaction with the person related to REIT Manager 3.1 Objective and necessity of the Transaction 49 3.2 Advantages and disadvantages of entering into the Transaction with 50 person related to REIT Manager 3.3 Risks that may arise from entering into Transaction 51 3.4 Appropriateness of the Transaction Value and the Conditions of the Transaction 51 Part 4 Reasonableness of the borrowing and the provision of collateral and entering into 53 the conflicting interest transaction between DREIT and the person related to the Trustee 4.1 Objective and necessity of entering into transaction 53 4.2 Advantages and disadvantages of entering into the Transaction with the person related to 54 the Trustee 4.3 Risks that may arise from entering into transaction 55 4.4 Appropriateness of Price and Terms of the transaction 57 Part 5 Conclusion of Opinion of Independent Financial Advisor 59 Appendix 1 Key information of Dusit Thani Freehold and Leasehold Real Estate Investment Trust (“DREIT”) Appendix 2 Summary of Pertinent Agreements and Draft Agreements GLOSSARY Glossary used in this report have not been sorted by alphabet but sorted by category for convenient in reading Abbreviation Meaning SEC The Securities and Exchange Commission SET The Stock Exchange of Thailand DREIT Dusit Thani Freehold and Leasehold Real Estate Investment Trust DTC Dusit Thani Public Company Limited DMCO Dusit Management Co., Ltd. “Company” or Dusit Thani Property REIT Co., Ltd. “REIT Manager” DTPP Dusit Thai Properties Public Company Limited DMS2 Dusit Maldives Investment Co., Ltd. The company will be newly established and then DREIT will hold 100% of its shares. DMS3 Dusit Maldives Management Co., Ltd. KTAM or “Trustee” Krung Thai Asset Management Public Company Limited MBK MBK Hotels and Resorts Co., Ltd. DTCPF Dusit Thani Freehold and Leasehold Property Fund Independent Financial I V Global Securities Public Company Limited Advisor or “IFA” Financial Advisor CIMB Thai Bank Public Company Limited Legal Advisor Charin & Associates Limited Accounting Advisor KPMG Phoomchai Holdings Co., Ltd. Tax Advisor EY Corporate Services Limited Independent Property Property Appraiser Company approved by the Office Securities and Appraiser Exchange Commission, which are KhightFrank and/or HVS-Nexus in this report KnightFrank Knight Frank Chartered (Thailand) Co., Ltd HVS-Nexus Bangkok Hospitality Consulting Services Company Limited (by Nexus Property Consultants Company Limited) ADR Average Daily Rate DCF Discounted Cash Flow EBITDA Earnings before interest, taxes, depreciation and amortization Enterprise Value (EV) Enterprise Value Equity Value Equity Value FCFF Free Cash Flow to Firm GOP Gross Operating Profit IRR Internal Rate of Return NOI Net Operating Income OCC Occupancy Rate RevPAR Revenue Per Available Room WACC Weighted Cost of Capital Opinion Report of the Independent Financial Advisor Dusit Thani Freehold and Leasehold Real Estate Investment Trust TRANSLATION The English Translation
Load more

Recommended publications
  • May 5, 2020 Thai Enquirer Summary Economic News • the Government Pledged to Spend Around 400 Billion Baht on Small-Scale Infra
    May 5, 2020 Thai Enquirer Summary Economic News The government pledged to spend around 400 billion baht on small-scale infrastructure projects, with the goal to create jobs over the next 3-4 months to shore up the local economy, according to Deputy Prime Minister Somkid Jatusripitak. Mr Somkid said the funds will be poured into provincial small-scale infrastructure projects with the aim of creating jobs. The Cabinet is set to consider later this month the framework of a new stimulus package, proposals for which will be submitted by state agencies, Mr Somkid said. The Agriculture Minister expects financial aid to reach farmers affected by the coronavirus disease 2019 from the middle of this month onwards and farmers are urged to quickly register for the financial assistance. The Bank for Agriculture and Agricultural Cooperatives (BAAC) said it is ready to transfer a financial aid of 5000 baht per month over a 3-month period (from May to July) to accounts of 10 million farming households from May 15. The cash handout scheme for farmers will require a total funding of 150 billion baht. The BAAC expects to transfer the fund to 1 million farming households per day. The Social Security Office (SSO) came under fire for slow compensation payments to laid-off workers amid speculation that the office is running short of money. The SSO came out to say that it has a total of 2.03 trillion baht in fund management as it had 1.35 trillion baht in funds and received 675 billion baht in returns from its investments.
    [Show full text]
  • The King Never Smiles
    the king never smiles The King Never Smiles a biography of thailand’s bhumibol adulyadej Paul M. Handley Yale University Press m New Haven and London Copyright ∫ 2006 by Yale University. All rights reserved. This book may not be reproduced, in whole or in part, including illustrations, in any form (beyond that copying permitted by Sections 107 and 108 of the U.S. Copyright Law and except by reviewers for the public press), without written permission from the publishers. Printed in the United States of America. Library of Congress Cataloging-in-Publication Data Handley, Paul M., 1955– The king never smiles : a biography of Thailand’s Bhumibol Adulyadej / Paul M. Handley. p. cm. Includes bibliographical references and index. isbn-13: 978-0-300-10682-4 (cloth : alk. paper) isbn-10: 0-300-10682-3 (cloth : alk. paper) 1. Bhumibol Adulyadej, King of Thailand, 1927– 2. Thailand—Kings and rulers—Biography. I. Title. ds586.h36 2006 959.304%4092—dc22 2005033009 A catalogue record for this book is available from the British Library. The paper in this book meets the guidelines for permanence and durability of the Committee on Production Guidelines for Book Longevity of the Council on Library Resources. 10 9 8 7 6 5 4 3 2 1 Pour mon petit Robin des bois Contents m Preface ix Introduction 1 1 A Dhammaraja from America 12 2 From Pure Blood to Dynastic Failure 26 3 1932: Revolution and Exile 44 4 Restoration to Regicide 64 5 Revenge of the Monarchists, 1946–49 80 6 Romance in Lausanne: Bhumibol Prepares to Reign 100 7 The Cold War, 1952–57 114 8 Field
    [Show full text]
  • Dusit International Now Accepts Alipay at Its Hotels and Resorts in Thailand, Offering More Convenience for Chinese Travellers
    Dusit International now accepts Alipay at its hotels and resorts in Thailand, offering more convenience for Chinese travellers Dusit International, one of Thailand’s foremost hotel and property development companies, has rolled out Alipay at its hotels and resorts in Thailand to cater to Chinese travellers who prefer to make quick and secure payments via mobile. With over 520 million users and counting, China-based Alipay is one of the world’s largest mobile payment platforms which allows its users to pay for goods and services by scanning QR codes on their smartphones or tablets. Its presence is ubiquitous in Chinese cities, where mobile payments are fast becoming a way of life. Dusit International already accepts Alipay at all of its hotels and resorts in China. Alongside Thailand, it also plans to roll out the system at its international properties soon. “The Chinese market is a key segment for our hotels in Thailand, so it is important our properties are equipped to meet the needs of those who prefer to pay via mobile, now the method of choice in China,” said Mr Lim Boon Kwee, Chief Operating Officer, Dusit International. “Alipay can certainly enrich and enhance the guest experience for all our Chinese travellers.” Dusit Hotels & Resorts in Thailand now accept Alipay at their restaurants, spas, participating outlets, and for hotel rooms upon check-out. The properties also accept China’s other major mobile wallet, WeChat Pay. Dusit properties in Thailand include Dusit Thani Bangkok, Dusit Thani Hua Hin, Dusit Thani Pattaya, Dusit Thani Laguna Phuket, Dusit Thani Beach Resort Krabi, dusitD2 Chiang Mai, dusitD2 Khao Yai, Dusit Princess Srinakarin Bangkok, and Dusit Princess Chiang Mai.
    [Show full text]
  • Dusit International in 1949
    an international marketing strategy analysis Group 5 Suthasina Chaolertseree 4802641060 Nutnaree Chaisirivichien 4802640583 Jirawat Mahatraiphop 4802640302 Passamon Rattanawenawatee 4802641326 David Eberle 5102940037 Dusit: an international marketing strategy analysis MK413: Group 5 Introduction Dusit Thani International, one of the first Thai hotel groups with more than 60 years of experience, has become internationally known for Thai artistry and its graciousness. The company aims to create a heaven on earth that enhances the customer's unique experience that enlivens individual sprit. The company has recently expanded to international territories such as the Philippines, Dubai and Egypt. International marketing demands for a different and more complex strategy than pure domestic marketing does, for there are a lot more competitors, uncertainties and cultural disparities, just to name some obstacles. The aim of this paper is to identify Dusit’s current position and strategy in the international market place, show its problems and opportunities and then give recommendations based on the theory of international marketing strategy. We first give an overview of the company and show its current financial performance, its brand and products, its organizational structure as well as the company’s culture and values. We then analyze the hotel industry and Dusit’s competitors. These sections are followed by an overview of international marketing strategy theory. We then analyze Dusit’s current and past strategy, state its problems and opportunities and show currently implemented strategies aiming to tack these problems and opportunities. The last section shows our recommendations, based on the 7 Ps, in detail. Executive Summary This text shows that Dusit is a very unique 5-star hotel in the classic luxury market.
    [Show full text]
  • Dusit International Signs to Bring Its Upscale Dusitd2 Brand to the Heart of Bangkok for the First Time Easy Access to Major
    Dusit International signs to bring its upscale dusitD2 brand to the heart of Bangkok for the first time Easy access to major business and lifestyle hubs is just one of the highlights of dusitD2 Samyan, Bangkok, slated to open in 2023. Bangkok 15 August 2019 – Dusit International, one of Thailand’s leading hotel and property development companies, has signed a hotel management agreement with Tian Teck Property Company Limited to operate dusitD2 Samyan Bangkok – the first dusitD2 branded property in the heart of Bangkok. Slated to open in June 2023 on Si Phraya Road, a vibrant thoroughfare which runs parallel to Silom and Sathorn Roads in Bangkok’s Central Business District, the new hotel is designed to meet the needs of business and leisure travellers alike and offer easy access to major business and lifestyle hubs in this key area of the city. Comprising 181 well-appointed guest rooms set over 23 floors, the family-friendly property will feature a sleek, modern design reflecting the vibrant, upscale nature of the dusitD2 brand. Rooms and public areas will provide the utmost in comfort and convenience, while Dusit’s unique brand of Thai-inspired gracious hospitality will enrich the stay experience. Among the hotel facilities will be a stylish lobby bar, a swimming pool with children’s pool, and a fully-equipped fitness centre. An all-day dining restaurant will offer daily buffet breakfast and a large selection of international cuisines. For business travellers, dusitD2 Samyan Bangkok will offer a large meeting room equipped with the latest audio-visual equipment. Charoen Krung Creative District, a major cultural and lifestyle hub which houses numerous art galleries, various museums, traditional local eateries, innovative restaurants, historic Buddhist temples, and a daily fresh market, can be reached in just five minutes by car.
    [Show full text]
  • Dusit Pulse 1 Warm Greetings from Dusit International Warm Greetings and Welcome to the August Edition of Dusit Pulse
    Dusit Pulse 1 Warm greetings from Dusit International Warm greetings and welcome to the August edition of Dusit Pulse. usit’s commitment to quality across all aspects of Golden Horse Awards – regarded as one of its operations really comes to the fore in this issue the highest honors of hoteliers in China as we report on numerous awards and achievements (page 16). received by the company worldwide. As a hospitality company, we recognize This includes special recognition of Dusit’s founder, Thanpuying people are the key to our success. This is why D we have a hiring and promotion policy that Chanut Piyaoui, who recently received the prestigious Lifetime Achievement Award from the School of Hotel and Tourism Manage- ensures only top management talent takes on ment (SHTM) of The Hong Kong Polytechnic University (see page 4). leadership positions at our hotels and resorts worldwide (see page 12). We also take training and development of young talent seriously, providing programmes designed to create a pool of future leaders for our properties (see page 6). On the subject of properties, in this issue we page 4 page 18 put the spotlight on our first hotel in Singapore – which is slated to open early next year (page This esteemed accolade honours outstanding personalities who 18) – and also speak to the owning family of have contributed substantially to the development of hospitality and Dusit Princess Moonrise Beach Resort, Phu tourism around the world, and we are delighted that, in receiving this Quoc, the first Dusit-branded hotel in Vietnam, reward, Thanpuying Chanut has been recognized for helping to lay which soft opened on May 22 to many positive the foundations for the vibrant tourism industry Thailand enjoys today.
    [Show full text]
  • The Audit Committee Report for Year 2016
    Annual Report 2016 Dusit Thani Public Company Limited 1 Contents 5 Message from the Chairman eage from Gro hief ectie Ocer 8 Financial Highlights he elt of Oeration and rofit roriation for ear olic and ine Oerie atre of ine 44 Risk Factors 49 Shareholders iidend olic 51 Management Structure ororate Goernance ororate Social eoniilit S ororate Stainailit eort 111 Internal Controls and Risks Management ditor ee elated art ranaction anagement icion and nali dit ommittee eort he oard of irector eoniilit for inancial eort ditor eort 137 Financial Statement oard of irector ectie thoried eron and oman Secretar Sidiar and ociated omanie General Information and Other Significant Information 4 Dusit Thani Public Company Limited Annual Report 2016 Annual Report 2016 Dusit Thani Public Company Limited 5 Message from Chairman Asa Sarasin Chairman Dear Shareholders, Although the global economy in 2016 was challenged by Bureau for the 19 rai of land on which Dusit Thani Bangkok worldwide political turmoil, as well as anxiety surrounding the stands, on the Silom-Rama 4 intersection. In accordance with the UK’s exit from the EU (Brexit), the Thai economy remained new agreement, which also grants us additional land between resilient and still continued to grow. The Bank of Thailand the Dusit Thani Office Building and Abdulrahim Building (BOT) estimated the country’s economy would grow 3.2 per alongside Rama IV Road, which currently has nothing but cent, up from 2.8 per cent in the previous year, driven mostly derelict buildings, the lease will be extended by 30 years by spending and investments in the public sector.
    [Show full text]
  • MANDARIN ORIENTAL MANILA Makati Avenue, Cor
    ST. PAUL UNIVERSITY MANILA (ST. PAUL UNIVERSITY SYSTEM) Submitted by: Submitted to: Asilo, Kriselda G. Ms. Mary Christianne V. Agustin BST – 1B LUZON MANDARIN ORIENTAL MANILA Makati Avenue, cor. Paseo de Roxas Makati City, 1200 Philippines Description: The award-winning five star Mandarin Oriental Manila Hotel offers 448 guest rooms, including 27 suites and four floors comprising the Mandarin Oriental Club. Enjoy the renowned hospitality of the Philippines along with the legendary service of the Mandarin Oriental Manila Hotel, which promises a level of comfort surpassing the highest standards and the most discriminating of expectations. Guests are welcome to work out in the fully-equipped health club or take a dip in the idyllic crystal blue waters of the hotel's swimming pool. Ideally located in the heart of the city's business and financial districts, you will find the Mandarin Oriental Manila Hotel the premier hotel to enjoy all Manila has to offer. Accommodations: 448 elegant guest rooms including 27 suites, 4-hour cable television, electronic safe in every room, coffee/tea making facility, voice mail facility and in- house movies, two telephone lines in each guest room, facsimile machine in all suites and available on request in guest rooms Dining: Mandarin Oriental's premier restaurant offers exquisite New Asian cuisine crafted by award-winning chefs. It also boasts delicately flavoured salads and appetizers, sumptuous entrees, grilled items, gourmet desserts, as well as a selection of fine wines from different regions of the world.
    [Show full text]
  • Media Contact
    MEDIA RELEASE DUSIT FUDU HOTELS AND RESORTS ANNOUNCES A NEW HOT SPRINGS RESORT IN CONGHUA, GUANGZHOU Shanghai, 03 March 2014 – Dusit Fudu Hotels and Resorts announces the signing of an agreement with Guangzhou Siborui Hotel Company Limited to manage a hot springs resort consisting of 133 villas and guestrooms. The Dusit Devarana Hot Springs & Spa will be the first internationally branded lifestyle and hot springs luxury resort located in Conghua, Guangzhou city, Guangdong Province, approximately 50 minutes from Guangzhou Baiyun International Airport and 75 minutes away from the central business district of Guangzhou. The Guangzhou Siborui Company Limited is a joint venture Company established by Guangzhou Metro Corporation and Guangzhou Pearl River Enterprises Group, Ltd. Scheduled to open in the last quarter of 2014, all villas at Dusit Devarana Hot Springs & Spa, Conghua boast private hot springs pools set against a tranquil and picturesque landscape. Dining and entertainment outlets include an All-Day Dining, a Chinese Restaurant and a Lobby Lounge. To cater for meetings and social events, a 300 sqm pillar-less ballroom and two meeting rooms with state-of-the-art audio visual facilities are available in the stunning resort. Comprehensive recreational facilities feature KTV and mahjong rooms, a well-equipped gymnasium, billiards rooms and an indoor hot springs swimming pool. The key feature of this deluxe resort is the outdoor hot springs experience, featuring a choice of 22 therapeutic, aromatic, splash, foot reflexology pools and a hot stone relaxation room. The hot springs experience is complemented by Thai-inspired massage treatments of Dusit’s Devarana Spa in five luxuriously appointed treatment rooms.
    [Show full text]
  • Media Contact: Yingrekha Langulasena | Corporate Director – New Media & Communications | Dusit International Tel: +66 (0) 2200 9999 Ext
    Media Contact: Yingrekha Langulasena | Corporate Director – New Media & Communications | Dusit International Tel: +66 (0) 2200 9999 ext. 3320 | Fax: +66 (0) 2636 3549 | Email: [email protected] Warangkana Puangsiri | Senior Public Relations Manager | Dusit International Tel: +66 (0) 2200 9999 ext. 3322 | Fax: +66 (0) 2636 3549 | Email: [email protected] Dusit International supports surgery for underprivileged children Dusit First Child campaign enables life-changing surgery for cleft lip and palate sufferer Kongphop Sumarn Bangkok, 12 September 2012: Cleft lip and palate sufferer ‘Singto’ Kongphop Sumarn is the latest child to benefit from the Dusit First Child project, an initiative under the group’s Dusit Smiles campaign. Donations from Dusit International’s properties have made surgery possible for Singto since his first operation in 2010. Dusit Smiles generated 1.4 million baht in 2010 and enabled 76 surgical procedures in Sisaket province. In 2011, an additional 1.2 million baht was donated to ‘Operation Smile Thailand’. ‘Dusit Smiles Mission II – Ongoing Surgery’ has provided 1.6 million baht for surgery for 85 children with facial deformities in Nakhon Ratchasima. “Participating in this ongoing charitable mission for the past three consecutive years continues to inspire Dusit International staff to reach out to local communities,” said Chanin Donavanik CEO of Dusit International. “We continually strive to improve the lives of these children, and many of our staff are deeply committed to the ‘Dusit Smiles’ campaign.” 1/3 Corporate New Media & Communications Dusit Thani Building, 946 Rama IV Road, Bangkok 10500, Thailand Tel: +66 (0) 2200 9999 l Fax: +66 (0) 2636 3547 Following his fourth operation Dusit International recently invited Singto, the Dusit First Child, and his parents for a one-night stay at Dusit Thani Bangkok, and arranged a one-day trip to visit Siam Ocean World with the Dusit International Team.
    [Show full text]
  • General Roundup Surprised to See People There Go- Pages 26, 27 & 28 It Recur.” Ing About Their Daily Lives
    Volume 11 Issue 20 News Desk - Tel: 076-236555 May 15 - 21, 2004 Daily news at www.phuketgazette.net 20 Baht The Gazette is published in association with Muslim Gov asks for diplomats IN THIS ISSUE ‘surprised’ NEWS: Trash handling ineffi- cient, says study; Transport by calm problems hotline to open soon. Pages 2 & 3 more police By Gategaeo Phetsawang INSIDE STORY: Water, water everywhere, but less and less By Gategaeo Phetsawang PHUKET AIRPORT: Muslim to drink. Pages 4 & 5 diplomats who took a tour of the NAI YANG: The Phuket provin- troubled deep South and then AROUND THE ISLAND: Hot cial government has requested Phuket last weekend, expressed wheels help the boys in more police to beef up security surprise at how calm the South brown. Page 6 in the province following the re- was, and noted that Phuket still AROUND THE REGION: Belgian cent violence in Pattani, Narathi- has many tourists. beauties on the beaches of wat and Yala. Suten J. Manurung, Deputy Samui. Page 8 Speaking to members of Chief of Mission of the Indone- the Thai Federation of Provincial sian Embassy, said the tour, with OFF THE WALL: Bruce Stan- Tourist Associations (TFPTA) Minister of Interior Dr Bhokin ley visits Phuket City’s new- from 42 provinces attending a Bhalakula acting as guide for the est and finest restaurant. seminar on May 8 at the Pearl 12 diplomats, was a good idea. Pages 10 & 11 Village Hotel, Governor Udom- “It’s been a good trip. At STOOL PIGEON: The sex-show sak Usawarangkura said he had least we and other countries, es- tout who picked the wrong asked Bangkok for more offic- pecially Muslim countries, can target.
    [Show full text]
  • Dusit International Makes Further Inroads Into the Philippines with the Signing of Dusit Princess Boracay Hotel
    Dusit International makes further inroads into the Philippines with the signing of Dusit Princess Boracay hotel Slated to open in early 2021 on the Philippines’ best-known island, the beachfront property puts Dusit on course to become one of the largest international hotel operators in the Philippines within the next three years. Bangkok, Thailand, 26 November 2019 – Dusit International, one of Thailand’s leading hotel and property development companies, has signed a hotel management agreement with International Builders Corporation (IBC), one of the leading construction companies in the Philippines, to operate Dusit Princess Boracay hotel on the west coast of the Philippines’ famed paradise island, Boracay. Slated to open in early 2021 in the Station 1 area of the island’s beautiful White Beach, one of the finest stretches of white sand on the island, the new beachfront hotel will comprise 120 guest rooms offering high levels of comfort and convenience, plus impressive views of the beach and surrounding emerald waters. In keeping with the high standards of the upper-midscale Dusit Princess brand, each guest room will feature premium-quality beds, a cosy bathroom with a powerful shower, a range of modern amenities, and a contemporary design. Hotel facilities will include a large swimming pool overlooking the beach, a fully equipped gym, and function rooms for social and business events. An all-day dining restaurant and local speciality restaurant will also be part of the offerings. Dusit Princess Boracay’s prime location ensures guests will enjoy easy access to everything the paradise island has to offer. From the atmospheric dining scene of West Beach and the exhilarating water sports activities of Bulabog Beach, to the scenic hiking trails of Mount Apo and the magnificent marine life found at more than 15 beautiful dive sites, the hotel is surrounded by a wide range of memorable experiences for guests of all ages to enjoy.
    [Show full text]