Bangkok Air plans property fund

Bangkok Airways plans to launch its THB10 billion Koh Samui Airport Property Fund next year, The Nation reported Wednesday, citing the airline’s deputy chief executive Tawachwong Tanasumitra. The fund will carry a 30-year maturity and a 6% guaranteed return per annum, the paper said.

The property fund is still pending an approval from the Securities and Exchange Commission. The company plans to conduct roadshows in Singapore and few more countries next week, Tawachwong was quoted as saying.

Proceeds from the fund will be used to finance the carrier’s new projects including a hangar and three four-story office buildings at the newly opened Suvarnabhumi Airport, as well as a 40-room hotel in Sukhothai province.