Stecon Group Public Company Limited (SET: STECON) has informed the Stock Exchange of Thailand (SET) that the STECX Venture Co., Ltd., a subsidiary of the company in which STECON holds 99.99% shareholding, has acquired an investment in Vertical Phraram 9 Alliance 1 Co., Ltd., a subsidiary of Noble Development Public Company Limited (SET: NOBLE).
Vertical Phraram 9 Alliance 1 is a condominium property development business, which has a registered capital of THB 10 million divided into 100,000 ordinary shares with par value of THB 100 each. STECX has acquired 50% of the subsidiary share, resulting in STECX and Noble holding 50% of the share respectively. The transaction date was set to September 30, 2025, with an aggregate consideration of THB 610 million.
The benefits of the investment is expected as follows:
Expand the private sector customer base, which will enhance revenue and support the targeted gross profit margin of the construction business.
Diversifying customer segment for the construction business, thereby creating opportunities to undertake additional projects from new property developer clients.
Achieving attractive investment returns.
Furthermore, STECON has also reported to SET that Sino Thai Engineering and Construction Public Company Limited (STEC), a subsidiary of the company, has signed construction contracts for Construction of Nue Epic Asok–Rama9 Project.
Nue Epic Asok–Rama9 Project consisted of Construction of Condominium 1 Building consisting of 4 Towers (Tower A 47 Floors, Tower B 47 Floors, Tower C 34 Floors and Tower D 32 Floors), and has a contract period of 31 Months (from the day after receipt of Notice to Proceed). The contract was signed with Vertical Phraram 9 Alliance 1 Co., Ltd., for THB 4.4 billion (including VAT).
