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Finally, Maldives will have a SO: Travel Weekly Asia

Finally, Maldives will have a SO: Travel Weekly Asia
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Maldives new multi-island resort concept construction starts

Mr. Moosa Zameer, Minister of Tourism, joined Chairman of Singha Estate Public Company Limited, Mr. Chutinant Bhirombhakdi; Director, Chairman of Executive Committee, Mr. Chayanin Debhakam, D.B.A; Chief Executive Officer, Mr. Naris Cheyklin; and the company’s Chief Investment Officer, Mr. Thiti Thongbenjamas, at an official groundbreaking ceremony at the Maldives’ Emboodhoo Lagoon, set to be a multi-island integrated leisure and recreation destination resort concept, designed to significantly expand the Maldives’ appeal as a multi-faceted tourism destination. Speaking at the official ceremony, Mr. Moosa Zameer, Minister of Tourism said: “We are delighted to attend the official ceremony to mark the start of construction on this new world-class leisure development which is set to further enhance the Maldives’ international reputation as one of the world’s top tourist destinations.”

Slow path to recovery

Singha Estate recorded 70 million baht net profit, pursued further investment and expected a strong growth this year

Singha Estate Public Company Limited reported its total revenue of 1,306 million baht in the first quarter of 2021, declined 40% from the same period last year. The decline was due mainly to the deconsolidating NVD from consolidated financial statement and coronavirus-induced impact on hospitality business. Nevertheless, an effective cost management, recognizing share of gain from joint ventures and items recorded in accordance with accounting standard resulted in 70 million baht net profit.

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