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TIH Limited's wholly owned unit has inked a joint venture agreement with a wholly-owned unit of Thailand-listed Loxley Public Company to invest in a K2 Venture Capital Company, a firm that will invest in start-ups, mostly in Thailand.
Under the agreement signed on Jan 11, TIH's Killian Court will subscribe for a 49.999 per cent interest in K2 Venture for 34.999 million baht (S$1.45 million) while Thailand-incorporated Loxbit Public Company will take up the balance in the joint-venture company.
The joint venture, it is hoped, will provide K2 Venture the opportunity to leverage on both companies' network and track record to tap into the high growth start-up investment opportunities in Thailand and Asean region, said the firm in an announcement to the Singapore Exchange.
Stanley Wang, a senior executive of TIH Investment Management - TIH's investment manager - will be seconded to K2 Venture Company as managing director and retains his position as a member of the Manager Investment Committee in TIHIM.