Major changes and key developments
Boutique Corporation was established on 13 February 2007 by Mr. Prabsharan Singh Thakral to engage in the leading real estate development and asset management company, focusing on Build-Operate-Sale (BOS) in hotels, serviced apartment, mixed-use, and commercial real estate. Thakral’s family decided to re-structured BOS business model companies to be subsidiaries under BC in order to prepare for the listing on the Stock Exchange of Thailand. Below are major changes and key developments timelines from 2015-2019
All Events in 2015
- BC re-structured company shareholding structure by acquiring investments in subsidiaries and joint ventures which are under the same control of company shareholder groups. The company re-structure was done on 16 September 2015.
- In August 2015, BC entered into Agreement with B Asset Management Ltd. or BAM (Boutique Asset Management Ltd., previous name) in relation to obtain the transfers of employees and management service agreements of properties and assets of BAM. BC has been counterparties of transferred agreements instead of BAM since September 2015.
- In the Extraordinary General Meeting of BC shareholder No. 5/2015 on 9 September 2015, the shareholders had a resolution to increase registered capital from THB 38,249,500 to THB 340,000,000. The increased capital comprises of 3,400,000 common shares with THB 100 par value.
- On 16 December 2015, BC sold Ozo Hotel, Pattaya to a non-related company buyer.
All Events in 2016
- The Group Company opened Hyatt Place Hotel, Patong, Phuket.
- In the Extraordinary General Meeting of BC shareholder 1/2016 on 17 May 2017, the shareholders had a resolution to split par value of the company shares from THB 100 per share to THB 1 per share. As a result, the number of registered and paid-up shares of the company increased from 3,400,000 shares to 340,000,000 shares.
- On 27 May 2016, BC became public company and changed its name to Boutique Corporation Public Company Limited.
- The Group Company started to develop mixed-use projects, Summer Hill community mall and Summer Hub offices building.
All Events in 2017
- The Group Company started to develop Chiang Mai Nimman 1 project at Huaykaew road, Chiang Mai.
- In February 2017, The Group Company sold Rain Hill community mall, Sukhumvit 47 to non-related company buyer.
- The Group Company opened Journey Hub Hotel, Phuket in November 2017.
- The Group Company opened Summer Hill community mall in Q4 2017.
All Events in 2018
- In February 2018, The Group company sold Hyatt Place Hotel, Patong, Phuket to non-related company buyer.
- In February 2018, The Group Company entered into Sale and Purchase Agreement of Sukhumvit 36 land and paid the land deposit to the seller. The target land transfer date is 31 October 2018. The land is for developing service apartment.
- In April 2018, The Group Company acquired Sukhumvit 16 land in order to develop hotel.
- In the Extraordinary General Meeting of BC shareholder 1/2018 on 8 June 2018, the shareholders had a resolution to increase registered capital from THB 340,000,000 to THB 507,000,000. The 167,000,000 shares of increased capital shall be for IPO.
- In August 2018, The Group Company entered into Land Sale and Purchase Agreement of the land at Kamala, Phuket. Company group paid the land deposit of THB 28,400,000 in July and August 2018. The remaining payment of THB 113,600,000 of the land price shall be paid within 22 November 2018 in order to obtain land transfer.
- In October, the Group company delivered the Summer Hub’s office spaces to the tenants.
All Events in 2019
- In January 2019, The Group Company officially opened the Summer Hub Offices for rent.
- In March 2019, The Group Company opened Villa 1.
- In June 2019, The Group Company sold Summer Hill and Summer Hub projects to non-related company buyer.