30 Dec 2020 Ms. Yupapin Wangwiwat, Executive Director and Chief Financial Officer, Gulf Energy Development Public Company Limited (GULF), informed the Stock Exchange of Thailand (SET). According to the company reported the progress of investing in ordinary shares of Intouch Holdings Public Company Limited (INTUCH) on October 6, 2020, by acquiring the ordinary shares of INTUCH, representing 10% of that at The Board of Directors’ meeting approved the investment in the total amount not exceeding 5% in the total investment amount not exceeding 8,920 million baht or increasing from 10% to not more than 15% by trading through the SET.
However, as of December 28, 2020, the Company holds 14.39% of ordinary shares in INTUCH. It is expected that it will generate a regular and long-term dividend yield for the Company as INTUCH operates in holding shares in other companies (Holding Company) with potential to generate cash flow for the Company. Because it is an investment in a company that is a leader in telecommunication infrastructure in Thailand. And such businesses still have high potential for growth. Comes from working capital within the business And credit limit from financial institutions
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