Business Services Industry

Thai Property Developer Wants Listing on Market for Alternative Investment.

Knight Ridder/Tribune Business News, July, 2002

By Krissana Parnsoonthorn, Bangkok Post, Thailand Knight Ridder/Tribune Business News

Jul. 24--Asia Island Homes Ltd, a Phuket-based property developer backed by international mutual funds, hopes to be listed on the Market for Alternative Investment by the end of this year.

The company planned to float 20 million shares and raise about 150 million baht from the stock market to fund its future developments, said chief executive Colin Mackay, a Briton who has lived in Phuket for almost four years.

AIH is looking at hiring a financial adviser after holding talks with some securities firms.

"We see a lot of potential to develop top-end luxury villas for international jet-setters in Phuket. But we can't diversify at a faster pace...

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