INBrief: L.P.N. forms new unit

PROPERTY: L.P.N.Development Plc has added a new subsidiary, Lumpini Project Management Service Co, to handle its sales, construction and transfers of units to customers, according to chief executive officer Tikhamporn Plengsrisuk.

The company has two other subsidiaries: Lumpini Property Management Co to manage 138 buildings with about 1.98 million square metres for residents in 46 projects; and Pornsanti Co, which is responsible for the development of non-condominium products.

Mr Tikhamporn said the restructuring was needed to increase the flexibility of the subsidiaries to respond to expansion in the future. The company expects to have about 100,000 families living in its projects in the next five years.

LPN shares closed yesterday on the SET at 6.95 baht, down 20 satang, in trade worth 60.22 million baht.

Source: Bangkok Post
Tuesday, January 08, 2008