In February, the Company launched a grand opening of the Banyan Tree Residences Riverside Bangkok, which received good feedback from customers on 24 February 2018.
In March, the Company rolled out a soft launch of Nirvana DEFINE Srinakarin-Rama 9 project, located in New Srinakarin-Rom Klao Road. The project consists of 173 units of 3-3.5 storey townhomes. It opened for customers’ visit of a model home which received good feedback from customers, resulting in being able to close sales of homes in the first zone within a single day.
In May, as the Company’s securities were listed on the MAI since 23 July 2015 and afterwards the Company submitted a request to the Stock Exchange of Thailand (SET) for an approval of listing NVD’s securities on the SET, the SET considered and had an opinion that NVD was fully qualified according to the SET’s regulations, Bor.Jor./Ror.01-00 Re: Listing of Ordinary Shares or Preferred Shares as Listed Securities, B.E.2558 (2015). Therefore, the SET has resolved to approve NVD’s securities in an amount of 1,380,599,978 shares with a par value of THB 1 per share, totaling of THB 1,380,599,978, to be traded on the SET and categorized into a property and construction industry, property development sector, by using the existing trading symbol, “NVD”, since 24 May 2018 onwards.
In the same month, The Company increased its registered capital from THB 1,380,599,978 to THB 1,681,719,973 in order to support a conversion of ESOP and NVD-W1.
In June, the Company issued and offered additional debentures in an amount of THB 1,200 million, which can be divided into Name-Registered, Unsubordinated and Secured debentures of THB 1,000 million with 2-year tenor and Name-Registered, Unsubordinated and Unsecured debentures of THB 200 million with 1-year tenor. An objective of debenture issuance is to be used as working capital for operation, business expansion, investment and/or repayments of loans from financial institutions, as well as repayments of the Company’s loans.
And in the same month, the Company sold its entire investments in Landy Development Co., Ltd. of 595,600 shares, representing 14.89 percent of the registered capital of Landy. Such investments held by the Company since 2006, prior to the merger with Nirvana Development Co., Ltd. The Company sold the investments to Master & More Co., Ltd. at a price of THB 41.9745 per share or totaling THB 25,000,000. A selling’s objective was to sell investments that the Company has no power in management in accordance with the Company’s investment management plan. While the Company planned to use the proceeds from the sales of the aforementioned investments as working capital of the Company. The shareholding proportion of the Company before the sales of investments was 14.89 percent and after the sales of investments was 0 percent.
In July, the Company increased the number of NVD-W1 in an amount of 276,119,950 units which were issued and allocated to the existing shareholders of the Company in proportion to the shareholding, with 3-year tenor from the issue date of warrants. First exercise date is 31 May 2019 and the last exercise date is 15 July 2021 at the exercise price of THB 8 per share which will begin trading on 24 July 2018.
In August, the Company signed a joint venture agreement with DH Asia Investment Orchid PTE LTD. (a subsidiary of DAIWA HOUSE INDUSTRY CO., LTD.) and Nanakij Warehouse Co., Ltd. on 9 August 2018 ("the Joint Venture Agreement ") in order to establish a joint venture company for a development of single homes ("Joint Venture Company") under a project name of "Nirvana Beyond Krungthep Kreetha" (currently changed the project name to "Nirvana Beyond Rama 9 – Krungthep Kreetha”) on a land area of approximately 27 rais on New Krungthep Kreetha Road (Srinakarin-Romklao Road). A total project value is approximately THB 2,600 million with a total investment capital of approximately THB 1,633 million, which can be divided into land costs of THB 756 million and development costs of THB 877 million.
In October, the Company has a joint investment with the landowner in a format of "Turnkey Solution" in Udonthani Province, Nong Prajak area, on a land area of 10 rais in order to develop 3-storey single homes in an amount of 40 units at a price range of THB 25-50 million with a total project value of THB 1,000 million. The project was already opened for VIP on 13 October 2018, which received very good feedback. There are 9 units sold, worth THB 240 million and the project will be officially launched in the first quarter of 2019.
Under the joint investments in a format of Turnkey Solution, the Company will entirely operate a project development, including design, sales, marketing, construction, ownership transfer, and after-sales services. In this regard, Nirvana’s brand will be used by the projects in which the land owners will not have to struggle with problems and chaos, being considered as the land development to the highest potential and value-added creation of the land. The land owners will be able to recognize revenue from the land ownership transfer of customers prior to the building (made-to-order homebuilding contract).
In January, the Company was successful in an increase of its registered capital of 1,050.6 million shares which came from the shares of Nirvana Development Company Limited of 800 million shares and 2 plots of land (land plots in the area of Rattanathibet and Bang Rak Yai) from Singha Estate Public Company Limited of 250.6 million shares.
In April, according to the resolution of the Annual General Meeting of Shareholders (AGM), the Company changed its name from Daii Group Public Company Limited to Nirvana Daii Public Company Limited. In addition, the Company also changed a symbol of its securities from DAII to NVD. Meanwhile, the Company had a resolution to increase its registered capital of 225 million shares which could be classified into a capital increase via private placement of 200 million shares and via the issuance of warrants to directors and employees of the Company of 25 million shares (ESOP-Warrant-1).
In June, the Company started receiving the entire business transfer from Nirvana Development Company Limited and launched a new project of Nirvana Beyond Rama 2 Phase 2 which was the Company’s new format of 2-storey single home.
In July, the Company increased its registered capital from THB 1,180.6 million to THB 1,405.6 million from the offering of newly issued ordinary shares and the conversion of ESOP.
In September, the Company started a soft launch of Banyan Tree Residence Riverside Bangkok which is a Chao Phraya riverside condominium project to the existing customers of the Company and associate companies.
In May, the Company opened a showroom of Ginza Home on Pradit Manutham Road as a showroom and sales office for customers to experience the real Ginza home.
In July, the Company launched a showroom of Ginza Home located in Mabkha Sub-district, Muang District, Rayong province to serve customers in the eastern region.
In October, the Company sold ordinary shares of Area Wow Co., Ltd. in which the Company had a shareholding of 50 percent to DCORP Group Co., Ltd. at a price of THB 500,000 in which the book value as at 30 June 2016 was equal to THB 490,117.09.
In December, the Company increased its registered capital from THB 130 million to THB 1,180.60 million.
In October, the Company established Area Wow Co., Ltd. with a shareholding of 50 percent by investing in the joint venture with Agency for Real Estate Affairs Co., Ltd. to develop the website for purchase, sales, and rent of real estate in a full system, allowing the Company to have the online media channel for expanding the business in the future.
In December, the Company sold Qsaf Diamond Co., Ltd. at the book value and invested in the business of semi-precast homebuilding under the name of Ginza Home, operated by Ginza Home Co., Ltd.
In August, the Company invested in the sales office for homebuilding business at Central Plaza, Salaya.
In October, the Company restructured its shareholding structure within the group in which the Company increased its paid-up capital from THB 90 million to THB 100 million and allocated 10 million shares at a par value of THB 1 per share (fair value per share of THB 3.61) for the payment of the shares of 300,000 shares of Qtech Products Co., Ltd. with a par value of THB 10 per share (fair value per share of THB 144.68), which accounted for 30 percent of its paid-up capital of Qtech Products Co., Ltd. from Miss Vadaiiraporn Skulchan, Mr.Supakinh Agwongsa, and Mrs. Piyorot Loughajareonyos which was equivalent to the swap ratio of 100 : 3 (100 shares of Daii Group PLC. to 3 shares of Qtech Products Co., Ltd.). The IFA considered the swap ratio and had an opinion that the transaction was appropriate. After the restructuring of shareholding structure of the Group, the Company has a shareholding of Qtech Products Co., Ltd. of 100 percent of the paid-up capital.
In October, the Company acquired the shares of Atech Enterprise Co., Ltd., f rom Mr. Toonthavee Mongkolsangsuree of 40,000 shares at a price per share of THB 0.01, due to the book value of Atech Enterprise Co., Ltd. was lower than THB 0. According to the restructuring of the Group, the Company had a shareholding of Atech Enterprise Co., Ltd. of 100 percent of the paid-up capital.
In October, the Company increased its registered capital from THB 100 million to THB 130 million and issued newly issued shares of 30 million shares for initial public offering.
Changed the Company’s name to Daii Group Public Company Limited.
In February, the Company increased its paid-up capital from THB 80 million to THB 90 million by allocating to a group of investors of 10 million shares at a par value of THB 1 in which the Company spent proceeds from capital increase for the purchase of production machinery of FENZER, Sandy model, and the purchase of land in order to prepare for an expansion of factory and distribution center.
In December, DCORP Group Co., Ltd. acquired all shares of QSaf Fresh Co., Ltd. which did not operate any business from Daii Group Public Company Limited at a book value and DCORP Group Co., Ltd. planed to close QSaf Fresh Co., Ltd. due to the company did not operate any business.
The Company invested in the sales off ice for homebuilding business at Central Plaza, Bangna.
The Company invested in the sales off ice for homebuilding business at Central Plaza, Rama 3.
Qtech Products Co., Ltd. increased its registered capital to THB 5 million and established 3 subsidiaries: 1) Qsaf Diamond Co., Ltd. to operate a business of semi-precast homebuilding 2) Ginza Home Co., Ltd. to operate a business of prefabricated homebuilding of Ginza home and 3) Qsaf Fresh Co., Ltd. to operate a business of homebuilding. Each subsidiary has a registered capital of THB 1 million.
The Company restructured its shareholding structure between the group of founders, including, Meeprasertskul family, Tansalarak family, and Maneerattanaporn family. As a result, after the restructuring, Tansalarak family, and Maneerattanaporn family have no longer held the Company’s shares.
The Company began to engage in a business of homebuilding through Qtech Products Co., Ltd. under the name of Qsaf Diamond.
Established its subsidiary, Qtech Products Co., Ltd., with a registered capital of THB 1 million as a selling agent of precast structures of the Company in which the Company has a shareholding of 80 percent.
Established its subsidiary, Atech Enterprise Co., Ltd., with a registered capital of THB 1 million as a selling agent of aluminum doors and windows from Japanese manufacturer in which the Company has a shareholding of 80 percent.
The Company was registered as a public company limited with the paid-up capital of THB 80 million and the Company’s name was changed to Dai-ichi Corporation PLC.
The Company increased its paid-up capital to THB 56 million to expand its business to the precast fence market after the Company’s products have been received good response from the market.
The Company reduced its paid-up capital to THB 12.50 million to clear retained losses.
The Company reduced its paid-up capital to THB 26.32 million in order to clear retained losses and expand the production line to precast fence in which the Company has researched and developed precast fence in a brand of “FENZER” to introduce to the market as a pioneer.
The Company increased its paid-up capital to THB 32.94 million to increase its working capital in the period of economic crisis in 1997.
The Company increased its paid-up capital to THB 30 million to support the growth of the business in prefabricated beams, pillars.
Daii-ji House Co., Ltd. was established with a registered capital of THB 5 million to engage in businesses of casting prefabricated beams, pillars and sold to general projects. The group of founders were Meeprasertskul family, Tansalarak family, and Maneerattanaporn family.