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Dusit Thani to divest Maldives resort to subsidiary in $63 mln strategic move

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Dusit Thani Public Company Limited (DTC), one of Thailand’s leading hotel and property development companies, has announced plans to divest Dusit Thani Maldives to its subsidiary, Dusit Thani Freehold and Leasehold Real Estate Investment Trust (DREIT).

The sale, which is valued at more than 2 billion baht (USD 63 million), is part of a strategic move designed to enhance DREIT’s appeal to investors whilst allowing DTC to recognise gain from sales, continue to obtain revenue from the property, and receive dividends from DREIT.

“In line with our vision for sustainable and profitable growth, we are continuously seeking ways to improve the efficiency of our asset portfolio to enhance revenue creation, generate returns, and source funds to aid in our business expansion. Recently DTC’s Board of Directors approved a resolution to dispose rights and leasehold rights in Dusit Thani Maldives worth not less than 2,304 million baht, subject to shareholders’ approval,” Suphajee Suthumpun, Group Chief Executive at DTC, was quoted in a statement, as saying.

“The sale of Dusit Thani Maldives to DREIT would bring numerous benefits for DTC and DREIT. DTC could recognise gain from the sale, continue to obtain revenue from the property under the lease agreement and hotel management agreement, and also enjoy consistent return from investment in DREIT. Meanwhile, the acquisition of Dusit Thani Maldives would enable DREIT to generate attractive return to unitholders. Furthermore, the increase in fund size would improve the unit trading liquidity, making it more appealing to investors.”

With the acquisition of Dusit Thani Maldives, DREIT plans to issue and offer for sale approximately 365,000,000 new trust units as a part of the source of funds. DTC’s Board of Directors also approved a resolution to subscribe for the newly-issued investment units of DREIT in accordance with the rights offering. This would allow DTC to maintain its investment proportion and receive the dividend from DREIT to use for working capital and further investment.

Located on Mudhdhoo Island in Baa atoll — the Maldives’ first ever UNESCO biosphere reserve — Dusit Thani Maldives blends gracious Thai hospitality with the unparalleled luxury setting of the Maldives. This luxury island resort comprises 94 villas encircled by white sandy beaches, a stunning 360 degree house reef and a turquoise lagoon. With a unique combination of beach and lagoon accommodation, Dusit Thani Maldives provides an unmatched luxurious escape for all travellers.

The resort offers a 360 degree vibrant house reef compliment with a turquoise lagoon, a 750-square metre infinity swimming pool with a lush Banyan tree in the centre, five restaurants and bars with breathtaking views and a Kids Club that is committed to making children’s dreams come true.

The award-winning Devarana Spa at Dusit Thani Maldives encompasses six deluxe treatment pods, which sit elevated amongst the island’s palm trees. For those who prefer to keep their feet firmly on the ground, the spa has also developed two stunning ground level treatment rooms. Manicure and pedicure-dedicated area, private outdoor pool, steam and sauna are exclusively available for spa guests.

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‘Get Charged and Win’ promotion: Four draws, countless winners, more to go

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The ‘Get Charged and Win’ promotion, which launched with great fanfare on June 23, continues to captivate audiences across the nation with its promise of incredible prizes and adrenaline-pumping excitement. As Coca-Cola moves forward, the company has announced not one, but four draws that have rewarded lucky winners with exciting prizes!

The ‘Get Charged and Win’ promotion has been a huge success, with dozens of lucky winners taking home amazing prizes, such as Benelli motorbikes, helmets, and Charged drink cases. The promotion, which started on June 23, has been attracting customers from all over the Maldives, who have been enjoying the refreshing taste of Charged caffeinated beverage and the thrill of scratching their cards to reveal their codes.

So far, four draws have taken place, each one broadcasted live on Television Maldives (TVM) at 9:30pm. The winners of the Benelli motorbikes were Mohamed Adam, MD Musharraf, Mohamed Rasel Hossain and Ahmed Zahir who were ecstatic to receive their prizes and thanked Charged for making their dreams come true. The winners of the helmets and drink cases were also delighted with their rewards and encouraged others to join the promotion.

But don’t worry if you haven’t won yet, because there are still more chances to win! The ‘Get Charged and Win’ promotion is not over yet. That means you still have time to grab your favourite Charged drink, scratch your card, and send your code to 2626 via SMS.

As the exciting journey continues, there are two main draws left in this thrilling event, scheduled for September 24 and October 20. You could be the next lucky winner of a Benelli Leoncino 250 motorbike! But the excitement doesn’t stop there; be sure to keep an eye out for the daily draws, with winners announced regularly on the @ChargedMaldives Instagram page. You could stand a chance to win a Charged branded helmet, or a Charged drink case.

Charged, a ground-breaking addition to Coca-Cola Maldives’ beverage portfolio, is available in 250 ml, in 100% recyclable aluminium cans, in line with our packaging strategy to use 100% recyclable packaging material. The caffeinated beverage is now widely available at major retail outlets, hotels, restaurants, and cafes throughout the Maldives.

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JEN Maldives Malé by Shangri-La unveils Oro’s 100% Arabica Rose Coffee

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JEN Maldives Malé by Shangri-La has introduced a special coffee to their collection – Oro’s 100% Arabica Rose Coffee. This latest addition to the menu of Jen’s Kitchen On-the-Go aims to provide coffee lovers with the unique and delicate taste of Oro’s Arabica Rose.

The hotel was alive with excitement on Thursday evening with the launch of Oro’s 100% Arabica rose. Media personnel and coffee enthusiasts were treated to an exclusive tasting experience of freshly brewed Arabica Rose Coffee along with some tasty finger foods.

The highlight of the evening was a lucky draw giveaway, extending an invitation for all the guests to participate and win a Skechers Maldives voucher and coffee voucher from Jen’s Kitchen On-the-Go.

Oro’s Arabica Rose Coffee is now available at Jen’s Kitchen on-the-go. It is the perfect spot to refuel with coffee, tea, freshly squeezed juices, or a light bite. Customers can now enroll to become a Shangri-La Circle Member and earn points with every purchase at Jen’s Kitchen On- the-Go and enjoy the rewards at Shangri-La Hotels & Resorts worldwide.

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Master Baker Steven to conduct IREKS Baking Art & Science training in Maldives

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The return of IREKS Master Baker to the Maldives brings exciting news for the local baking community.

Kuala Lumpur-based Master Baker – Chef Steven Selvamuthu, will be conducting pro-bono culinary demonstrations and extensive training sessions from 19th August to 7th September, 2023. Bakers and Pastry Chefs in resorts and HORECA institutions can look forward to enhancing their skills and knowledge under his guidance.

Steven’s expertise in pastries, acquired through training in Gelato University in Italy and a Chocolate Master program in Switzerland, has been instrumental in providing the best solutions to IREKS’ customers in the Maldives.

IREKS, the renowned German company, is a global player in the industry, celebrated for their expertise in developing innovative baking ingredients and catering to the preferences of the health-conscious and quality-driven generation. IREKS provides high-quality bakery flour and ingredients, including baking improvers, specialty bread mixes, gluten-free mixes, vegan mixes, and confectionary mixes. With a growing awareness of the impact of food production on people and the environment, IREKS offers a diverse range of organic baking improvers and mixes for the efficient production of various organic quality baked goods. They exclusively source raw materials from controlled organic cultivation.

In addition to its range of flour mixes focused on multiple baking needs, IREKS also offers a wide “Free-from” range, accommodating various dietary preferences such as lactose-free, palm oil-free, additive-free, egg-free, sugar-free, or vegan options.

In particular, IREKS has been providing a comprehensive Gluten-Free range since 1995. Gluten, a protein that provides structure, is essential for making grains bakeable, and it would be a challenge to bake without its presence. At the same time, gluten-free baked goods are growing in demand – even from those who do not suffer from medical conditions (e.g.: celiac disease). In order to meet the high safety requirements in this specialised production process, gluten-free ingredients are carefully and meticulously selected and processed at IREKS’s state-of-the-art facilities in Germany.

So, this powerhouse of the baking profession, Master Baker Steven, will share his vast expertise with the resort bakers’ community during these demonstration sessions. Should you wish to participate in a training session, please contact Bestbuy Maldives.

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