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Lombard
Media
In the News: 2007Lombard Backed CEO Selected as Businessman of the Year PR Newswire Lombard Investments, Inc. is proud to announce that K. Thonga Vititapongpun, President of its SE Asia portfolio company Preuksa Real Estate (“Preuksa”) (ticker: PS.BK), the leading manufactured home builder in Thailand, has been voted by the Business Desk of Thailand’s newspaper, The Nation, as Businessman of the Year. Recently, President Thonga Vititapongpun was also recognized by Forbes as one of Thailand’s ten richest men. Preuksa dominates the market for affordable housing in Thailand. Using centrally manufactured precast concrete systems, the company is able to shorten the home building cycle and lower costs. K. Thonga Vititapongpun, a civil engineer, founded Preuksa in 1993. Since inception, he has implemented state-of-the-art German production technologies and monitoring systems to maintain the effectiveness of operations. He has also expanded his key management team by recruiting experts in their fields. Despite a difficult economic and political environment in 2006, Preuksa reported an increase in sales and net profit for the first nine months of 2006 of 8.8% and 6.1% YOY, respectively, compared to less than 5% growth for the overall property market. Preuksa targets 23% growth to 10 billion baht (approximately $275 million) in revenues this year. Lombard made its investment in and joined the Board of Directors of Preuksa Real Estate in December 2005. Lombard Investments, Inc. invests in leading businesses throughout Asia and maintains offices in San Francisco, Bangkok, Hong Kong and Vietnam. Formed in 1985, the privately held firm has made more than 50 investments in Asia. More information is available by contacting:
The full story as reported on December 21, 2006 in Thailand’s The Nation may be found ahttp://www.nationmultimedia.com/search/page.news.php? |
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2008 Lombard |