GreenPro Capital Forms Consortium to Develop Thailand Entertainment Complex

Rhea-AI Summary

Greenpro Capital Corp. (NASDAQ:GRNQ) has formed a tripartite consortium with Royal Turf Club of Thailand and Capital Trust Group to develop a US$6 billion Thailand Entertainment Complex. The mega-complex will feature a horse-racing track, 6-star hotels, golf courses, restaurants, theatres, sports facilities, concert halls, cultural centre, and shopping areas.

The project, targeting Thai and foreign tourists with an expected 50,000 club members worldwide, is proposed for five potential areas in Bangkok and surroundings. The complex will incorporate green technology, including air purifiers and clean energy systems. Capital Trust Group and Greenpro Capital will lead fundraising efforts through conventional markets and cryptocurrency channels, with CTG planning to issue a US$6 billion digital bond targeting wholesale investors in web-3 communities.

Positive

• Leading role in a major US$6 billion development project in Thailand
• Strategic position in fundraising activities through both traditional and crypto channels
• Partnership with established institutions including Royal Turf Club of Thailand

Negative

• Project is subject to pending Entertainment Complex Bill approval by Thai lawmakers
• Significant capital requirements and execution risks for a US$6 billion project
• Complex regulatory environment involving multiple jurisdictions

KUALA LUMPUR, MALAYSIA / ACCESSWIRE / December 5, 2024 / Greenpro Capital Corp. (NASDAQ:GRNQ) announced that a tripartite consortium involving Royal Turf Club of Thailand under Royal Patronage ("RTC"), Capital Trust Group Limited ("CTG") and Greenpro Capital will be spearheading the proposed business development of Thailand Entertainment Complex, a US$6 billion (~200 billion Thai Baht) mega entertainment complex that will include a horse-racing track, 6-star hotels, golf courses, restaurants, theatres, sports complex, concert halls, cultural centre, and shopping complex. The entertainment complex is expected to support Thai and foreign tourists, including around 50,000 club members worldwide. Up to five areas in Bangkok and its surrounding areas have been proposed for the complex, among them Khlong Toei, Lat Krabang and Nong Chok.

https://www.nationthailand.com/business/economy/40040971

RTC Association Secretary Col.Phantat Sangchot said apart from entertainment facilities, there will be a green area, featuring a large air purifier, to improve the quality of life for local residents. "We are confident that this project will be positive for the economy, attract tourists, and enhance our reputation for horse racing. The complex will be green too as we will use modern technology to deliver clean energy," he said. "The entertainment complex investment plan did not happen in a few days but has taken several months to conclude. We are confident that the project will meet the government's aim of creating new tourist attractions."

Under the Consortium Agreement, all three parties agreed to pool resources and seek strategic active investors who would be keen to develop the project into a "Green Edutainment Center" which have sustainable, ESG-orientated and green-technology features. CTG and Greenpro Capital will lead the fundraising campaigns via both conventional capital markets and digital cryptocurrency channels.

CTG announced on September 4, 2024, to issue a US$ 6 billion Thailand Entertainment Complex Digital Bond to target wholesale investors in web-3 communities, taking advantage of the large inflows of conventional funding into tokenized bonds. Co-Chief Executive Officer of CTG, Tony Wong said, "Institutions and government recognition of digital assets have seen cryptocurrencies hitting their respective all-time-high. Widespread adoption of ETFs has increased capital inflows into crypto, signaling growing acceptance and legitimacy within mainstream finance.".

Greenpro Capital CEO Dr. CK Lee said, "We are excited as Greenpro Capital as a NASDAQ-Listed company, has been appointed as a Strategic Purpose Investment Company ("SPIC") to invite strategic investors on a global scale to participate in this Thailand national mega project."

The development of the Thailand Entertainment Complex is subject to the Entertainment Complex Bill, which is currently under consideration by Thailand lawmakers.

About The Royal Turf Club of Thailand under Royal Patronage (RTC)

The Royal Turf Club of Thailand under Royal is a sports club in Thailand, formerly located at its historic horse racing venue in Bangkok, which was commonly known as the Nang Loeng Racecourse. It was founded in 1916 by a group of aristocrats as an alternative to the Royal Bangkok Sports Club, and became highly popular during the first half of the twentieth century. https://en.wikipedia.org/wiki/Royal_Turf_Club_of_Thailand

About Capital Trust Group Limited (CTG)

Capital Trust Group Limited is a New Zealand investment management and fintech company specializing in providing white-label EdTech Platform targets to startups to build their social investment networks. https://www.ctgprime.com/

About Greenpro Capital Corp

Headquartered in Kuala Lumpur and a Nevada corporation, Greenpro Capital Corp. (NASDAQ:GRNQ), is a business incubator with strategic offices across Asia. With a diversified business portfolio comprising of finance, technology, banking, and Green-X for STOs, health and wellness as well as 30 years of experience in various industries, Greenpro has been assisting and supporting businesses and High-Net-Worth-Individuals to capitalize and securitize their value on a global scale. This is done through the provision of cross-border business solutions, spinoffs on major stock exchanges and accounting outsourcing services to small and medium-size businesses located in Asia. The comprehensive range of cross-border business services includes, but are not limited to, trust and wealth management, listing advisory services, transaction services, cross-border business solutions, record management services, accounting outsourcing services and tax advisory services. Greenpro also operates venture capital businesses, including business development for start-ups and high growth companies.

For further information regarding the company, please visit http://www.greenprocapital.com.

Forward-Looking Statements

This press release contains forward-looking statements, particularly as related to, among other things, the business plans of the Company, statements relating to goals, plans and projections regarding the Company's financial position and business strategy. The words or phrases "plans," "would be," "will allow," "intends to," "may result," "are expected to," "will continue," "anticipates," "expects," "estimate," "project," "indicate," "could," "potentially," "should," "believe," "think," "considers" or similar expressions are intended to identify "forward-looking statements." These forward-looking statements fall within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 and are subject to the safe harbor created by these sections. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of local, regional, and global economic conditions, the performance of management and our employees, our ability to obtain financing, competition, general economic conditions and other factors that are detailed in our periodic reports and on documents we file from time to time with the Securities and Exchange Commission. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.

GRNQ has 7,575,813 shares issued and outstanding with a float of 4,089,641 shares

Gilbert Loke, CFO, Director
Greenpro Capital Corp.
Email: ir.hk@greenprocapital.com
Phone: +852-3111 7718

Contact Dennis Burns. Investor Relations.
Tel (567) 237-4132
dburns@nvestrain.com
Phone: +603-2201 3192
mycorp@greenprocapital.com

SOURCE: Greenpro Capital Corp.

View the original press release on accesswire.com

FAQ

What is the value of the Thailand Entertainment Complex project involving GRNQ?

The Thailand Entertainment Complex project involving Greenpro Capital Corp. (NASDAQ:GRNQ) is valued at US$6 billion (~200 billion Thai Baht).

What is Greenpro Capital's (GRNQ) role in the Thailand Entertainment Complex project?

Greenpro Capital (GRNQ) serves as a Strategic Purpose Investment Company (SPIC) to invite strategic investors globally and will lead fundraising efforts through conventional and cryptocurrency channels.

What facilities will be included in the GRNQ-involved Thailand Entertainment Complex?

The complex will include a horse-racing track, 6-star hotels, golf courses, restaurants, theatres, sports complex, concert halls, cultural centre, and shopping complex.

How will the Thailand Entertainment Complex project by GRNQ be funded?

The project will be funded through both conventional capital markets and digital cryptocurrency channels, including a US$6 billion Thailand Entertainment Complex Digital Bond targeting wholesale investors in web-3 communities.