Panoramic Universal To Divest Stake In Its Thailand Subsidiary
Panoramic Universal Limited is planning to divest stake to 49% from 70% in its Thailand subsidiary - Seaview Homes Company Limited.
The subsidiary was formed last year to acquire Condominium Units in Thailand. The company has acquired condominiums in Pattaya and is in the process of acquisition at Bangkok.
The Company is also planning to make investment in securities or give loan to one or more companies in Singapore up to an overall limit of R10 Cr.
Panoramic Universal is engaged in Hospitality services and IT solutions providing business. The company has core competencies in Customized Software Application Development, e-business applications, legacy, client/server systems, Websites & portal development.
The Group currently owns 11 operational properties in India and 5 operational properties overseas. The company operates and owns two portals – travelhot.com, traveluniversally.com. There are more than 200 hotels registered on the portal offering competitive rates to the customers.
Recently, Accor SA sold 60% stake in 15 Formule 1 Hotel projects in India to Samhi Hotels Pvt. Ltd. last month.
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|Panoramic Universal Limited||Sudhir Shankar Moravekar||Aman Chambers, 4th Floor, Opp. New Passport Office,Veer Savarkar Road, Prabhadevi||http://www.panoramicuniversal.com|
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