Bangkok--5 Jun--Kiatnakin Bank
Kiatnakin Bank is to hold tender offer of assets in CBD — just in the neck of luxury Soi Ruamrudee on the Wireless Road side. Bid envelopes are to be accepted on June 18 and the results will be announced on the same date.
Mr. Tawatchai Sudtikitpisan, president of Kiatnakin Bank Plc., revealed that the bank’s Assets Management Department was set to hold tender offer of one of the special assets owned by the bank, the Vimalin Mansion project. Located in Soi Ruamrudee on Wireless Road, this project was built on one rai and 59 square wah (1,836 square meters) of land. Vimalin is a 24-unit serviced apartment and situated in a fabulous central business district (CBD), just 70 meters off Wireless Road in Soi Ruamrudee. This is a very outstanding set of assets being put up for tender offer for the first time this year by Kiatnakin Bank. The bank had invited investors and real-estate developers individually by direct mail to the tender offer. At the moment, the tender offer invitation was very welcomed by prospective bidders. It was probably because of that this set of assets was on such a great location and highly attractive to prospective investors who could either further develop the project or expand it to serve several more types of business. In this tender offer, the price will start at 200 million baht and bidders are required to make a deposit in assets worth at least 2 million baht. And to maintain transparency in the bidding process, the bidders are required to tender their offers in a sealed envelope and then the bids will be opened before the bidding committee and all bidders. The one who offers the highest bid, which must not be less than the minimum bid quoted by the bank, will be the winner. Bid envelopes are to be received and opened on the same day, on June 18, 2007. Interested individuals are encouraged to check www.kkasset.com (asset code of Vimalin Mansion is A07001) for details of assets now up for tender offer or call Kiatnakin Bank’s call center at 0-2680-3420 up to 1 during office hours.
The total value of NPAs or assets up for sale Kiatnakin Bank has in possession, as of March 2007, was about 8 billion baht. The bank has already carried out a number of road shows of the assets, which were for sale at a special price, in various large provinces. The next road show will be held in Phitsanulok from July 4 to 8 this year.
Note to Editor: Kiatnakin was established in 1971, and started operating as a commercial bank entitled “Kiatnakin Bank Public Company Limited” on October 3, 2005. The bank has a capital base of 17,843 million baht and assets of 77,940 million baht. Currently the bank has 21 branches throughout Thailand. The bank provides savings and credit services, including saving deposits, fixed deposits, current account deposits, as well as Hire-purchase loans, Residential project loans, Corporate and industrial loans, and more.
For more information, please contact
Ms. Tippawan Wortong (Mo) at Mobile: 081.421.2923
or E-mail: [email protected] ; [email protected]
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