Somchai Sujjapongse, chairman of the presidential selection committee, said the airline earlier invited interested persons to apply for the top post at the national carrier from September 19 to October 31.
“For the sake of Thai Airways International, the company has extended the submission period for the new president until December 2, 2016,” Somchai said in a written announcement last Thursday.
The committee will examine the qualifications of all applicants and shortlist qualified persons for further processing. The procedure is expected to be complete by early next year.

SINGAPORE’S GIC ACQUIRES EUROPEAN WAREHOUSE GROUP
Singapore sovereign wealth fund GIC has bought a top European warehouse developer and manager for 2.4 billion euros (Bt92.8 billion) in Europe’s biggest real-estate transaction this year, a joint statement said yesterday.
GIC, one of the world’s top 10 state investment funds, bought P3 Logistic Parks from US-based TPG Real Estate and Canada’s Ivanhoe Cambridge, said the statement issued by the four companies.
P3 Logistics, based in the Czech Republic, was described in the statement as “one of Europe’s largest fully integrated logistics platforms and developers”. It develops, owns and manages 163 “high-quality” warehouses across nine countries on the continent.
“The transaction values the business at 2.4 billion euros and is the largest European real-estate transaction this year,” the statement said.
Lee Kok Sun, chief investment officer at GIC Real Estate, said the purchase reflected the company’s confidence in the long-term potential of the European logistics sector.
The deal is subject to regulatory approval and is expected to close by the end of the year, the statement said.
Formerly known as the Government of Singapore Investment Corporation, GIC manages the city-state’s foreign reserves with a focus on long-term performance.
It does not disclose the exact value of its portfolio, saying only that it has “well over US$100 billion of assets” in more than 40 countries, including real estate, equities and fixed-income investments.
The US-based Sovereign Wealth Fund Institute says GIC has $350 billion (Bt12.25 trillion) of assets under management worldwide, making it the world’s eighth-largest. – AFP

SMART CONCRETE EYES MORE REVENUE FROM ABROAD
Smart Concrete will expand the number of its sales distributors in Cambodia and Laos in response to rising demand, according to its managing director Rungsee Theepakornsukkasem. It expects its revenue from overseas markets to increase to 5-6 per cent next year from the current 4 per cent.
The company posted third-quarter revenue of Bt82.86 million, down from Bt100.35 million in the same period last year. It posted a net loss of Bt7.48 million in the quarter, up from Bt4.35 million in the same period last year.

PROPERTY FUND CONVERTED TO REIT
The Securities and Exchange Commission has acknowledged a filing for the offering of up to 336,473,000 trust units in Sri Panwa Hospitality Real Estate Investment Trust (SRIPANWA), the first REIT in the country to be converted from a property fund.
SRIPANWA plans to acquire assets invested by the Sri Panwa Hotel Property Fund (SPWPF) and new assets, including a luxury hotel and a resort, which have revenue growth potential from the rising number of high-end tourists in Phuket. The book-closing date for eligible subscribers is November 14.
Veena Lertnimitr, executive vice president for primary distribution at Siam Commercial Bank, as the financial adviser and the lead underwriter, said the filing for the conversion of SPWPF into SRIPANWA had been submitted to the SEC.
SRIPANWA will offer up to 336,473,000 trust units, which will include 200,183,000 units to finance the acquisition of the assets currently invested by SPWPF, via the transfer of assets and liabilities from SPWPF, with a swap ratio of 1:1, and up to 136,290,000 units for SPWPF investors who subscribe before the book-closing date.