Nusasiri Public Company Limited (“the Company”) (Previously, Angpao Assets Public Company Limited and Thai Durable Textile Public Company Limited was established on August 19, 1960 to operate a textile business. On August 10, 1992, the Company’s shares were listed on the Stock Exchange of Thailand (SET), and in 1994, the Company was converted to a public limited company.
During 1993 – 1997, the Company had incurred losses. As a result, in 1997, the Company was notified by SET that it had fallen into criteria of the securities that may be delisted from SET, and SET had ordered the Company’s shares, which was traded on the Textile sector, to be transferred to the companies under rehabilitation plans (REHABCO). Later, the Company had proceeded with its plan for exclusion from being delisted.
Therefore, in April 2003, SET had allowed the Company’s shares to be traded again under REHABCO sector.
The free trade agreement and the removal of textile quota allocation during early 2005 caused an intense competition both within the country and abroad. As a result, the price of textile products had fallen. The company incurred losses and faced liquidity problems, and SET had suspended the trading of the Company’s shares until the Company can meet the criteria for exclusion from being delisted and transferring back to normal sector. In 2006, SET had removed REHABCO sector and transferred the Company to be under the Non-Performing Group.
In 2006, the Company ceased to operate its textile business. In February 2006, it terminated the operations of yarn spinning and weaving, and in June 2006, it withheld all production activities of its garment department. On December 22, 2006, SET had notified an additional condition stipulating that the Company had fallen into criteria of the securities that may be delisted as the Company had ceased to operate almost all of its business and its operating assets had significantly fallen.
After terminating the textile business, the Company has established a new business, a property development business. The Company has begun operating its property business starting from being a property sales agent. Afterwards, in July 2009, the Company’s shareholders’ meeting had approved an acquisition of assets from Nusasiri Grand Public Company Limited and KMP Property Company Limited (“Nusasiri Group”) to be its operating assets, consisting of five projects with an amount of not exceeding Baht 2,490.00 million baht to be its operating assets and enable the performance of the Company. The Company owns the trademark “Nusasiri” this is the original famous brand and well-know among the customers who is a better position. The Company has permission to use the service sign “Baan Krisana” in the Baan Krissan Rama 5 Project which is quite well-know. The assets acquired comprise of;
The Plaza zone of the condominium unit of Nusasiri Grand Condo Project (Sukhumvit-Ekamai)
The land and construction of Nusasiri Sathorn-Wongwaen Project.
The land and construction of Nusasiri Sathorn-Pinklao Project.
The land and construction of Nusasiri Rama 2 Project.
The Krisana Rama 5-Kanchanapisek Project.
Cash payment is not more than Baht 1,500 million and paid in shares to Nusasiri Group is not exceeding 3,304.38 million shares at the price of Baht 0.35 per share, worth no more than Baht 1,156.53 million, and change its name to Angpao Assets Public Company Limited. The company has received approval from the Stock Exchange back into trading in the real estate category. On September 9, 2014 And launched the project on behalf of company 2 project as follows;
Up Ekamai Condominium Project , Ekamai Road.
Parc Exo Condominium , Kaset-Navamintr Road
In 2013 the company has launched a The horizontal project 1 project, The horizontal townhouse, Narathon Suwintawong Road
In 2014 the Company has to development of real estate projects the provinces the number of two projects. The focus of investment to the province. The potential and growth of residential demand continuously as follows;