RML steps up sale of major holdings

Developer in acute need of cash

- KANANA KATHARANGSIPORN

SET-listed developer Raimon Land (RML) is accelerating the sale of major assets, including its 8.4-billion-baht stake in the One City Centre (OCC) office tower, as part of efforts to enhance liquidity in the first quarter of 2026.

Chief financial officer Sorrapong Mamuang said the company’s turnaround strategy involves reducing its shareholding in OCC to generate cash flow and strengthen liquidity, supporting its return to profitability.

“We delayed launching new projects as we waited to reduce our stake in OCC,” he said. “The proceeds will be used to support new developments and create cash flow for related businesses.”

The asset sale is one of the company’s remedies after the Stock Exchange of Thailand (SET) imposed a “CB” (caution against a possible delisting) sign on its securities on March 3 due to net losses for three consecutive years.

On Nov 17, the SET again imposed the CB sign after RMLs third-quarter financial statements showed shareholders’ equity below 50% of paid-up capital.