Apex Development Public Company Limited
After the Suntec Group Public Company Limited had successfully completed its rehabilitation plan under the law, it was legally permitted to operate its business again from 30th of April, 2007 onwards. In August 2007 the new investor group led by Mr. Pongphan Sampawakoop acquired the increased shares of paid-up capital to obtain 836,000,000 shares, worth 785,840,000 baht, or 78% of the total shares.
The company’s name was also changed to Apex Development Public Company Limited. The new business objective is to engage actively in real estate development. Hence forth Apex started to develop its first branded hotel and seaside resort project named “White Sand Beach”, Pattaya on approximately 30 rai of land area with a project value of 3,500 million Baht. It consists of: Mövenpick Hotel (North Tower), Mövenpick Residences (South Tower), and Mövenpick Pool Villas.
Our business plans are to develop and sell the hotel, Residences and Pool Villas to investors and individual buyers in order to realize its profit to apply for the resumption of trading of the company’s shares in the Stock Exchange of Thailand (SET).
After the completion of project construction, Apex transferred Movenpick Hotel, some of condo-units and pool villas to the buyers, thus realized the net profit to the company based on its audited financial statements for the year 2015 and 2016. SET has approved Apex to resume trading in the Stock Exchange of Thailand for the Property and Construction group, in the Property Development Sector starting from the 27th of March, 2017 onwards.