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Thailand's Property Perfect forms JV

Thailand-based real estate developer Property Perfect PCL formed a joint venture with Sekisui Chemical Co. Ltd., with a registered capital of not more than 200 million baht, comprising 2 million shares at 100 baht each.

The joint venture, to be called PF-Sekisui JV Co. Ltd., will invest in and develop real estate projects for sale.

Property Perfect will hold 51% of shares in the venture while Sekisui will hold 49%, with the board of directors comprising two directors from each of the companies. Property Perfect will fund the venture's working capital.

As of June 12, US$1 was equivalent to 32.08 baht.