Frasers Property (SGX:TQ5), via its unit Frasers Property Holdings (Thailand), entered into further shareholders' loan agreements with TCC Assets (Thailand) in relation to joint venture investments in One Bangkok Holdings, One Bangkok Ventures, and One Bangkok.
The joint investment is aimed at acquiring and developing a leasehold site in central Bangkok into an integrated mixed-use development, a filing with the Singapore Exchange said on Wednesday.
Under the agreements, a loan facility of up to 5.07 billion Thai baht will be made available to One Bangkok Holdings; a loan facility of around 6.37 billion Thai baht will be advanced to One Bangkok Ventures; and roughly 14 billion baht will be made available to One Bangkok.
One Bangkok Holdings, One Bangkok Ventures, and One Bangkok are joint ventures between TCC Assets (Thailand) and Frasers Property Holdings (Thailand).
Shares of Frasers Property were down over 3% in recent trading.
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