Noble Development Plc (NOBLE) announced new shareholding structures after the appointment of new top leadership. Thongchai Busrapan, Fulcrum Global Capital and BTS Group become the major shareholders of the company. Noble will now operate under the new shareholding structure and a new vision that will drive the company to grow by leaps and bounds.

Under new shareholding structure, Mr. Thongchai Busrapan has acquired 23.3 percent of the company’s stake.

Fulcrum Global Capital, wholly owned by Mr. Frank Leung, holds a 24.9 percent stake in the company through nCrowne Pte. Ltd.

BTS Group Holdings PCL (BTSG) has acquired 9.9 percent stake as part of its treasury investment strategy.

This has made the three parties the major shareholders in Noble Development. Following the move, Thongchai has been appointed the Chairman, the Co-CEO and President of Noble, responsible for running the company’s real estate development projects, both horizontal and high-rise. Meanwhile, Frank Leung will also remain as the Co-CEO, and will collaborate with Thongchai in the overall management of the Company, with focus on international marketing and investment activities.

The new management team has articulated a vision to grow Noble by leaps and bounds with a goal to achieve annual revenues of 10 billion baht in the next three years.

In addition to business activities related to the projects currently under development, Noble has focused its efforts on expanding its business overseas. In the first quarter this year, the company has increased international sales from 10 percent to 40 percent of total booked sales.

Furthermore, Noble intends to develop projects in new locations along the skytrain route, with prices ranging from 100,000-150,000 baht per square metre. With an annual budget of 3 billion baht, the company plans to acquire new land plots to grow in this segment. A new brand will be created for these projects.

At the same time, Noble will seek to monetize its landbank and assets for lease. So far, the company has recognized more than two-billion-baht revenue from such initiatives and will continue to strategically divest non-core assets to maximize return on investment.

The new management has expressed confidence that the new shareholding structure will strengthen Noble and facilitate the execution of its strategy, growing the Company by leaps and bounds over the next several years.

Thongchai Busrapan is an experienced real estate business veteran and had been the President and director of Noble from 1992 to 2012.

Fulcrum Global Capital is wholly owned by Frank Leung, the Company is a private equity investor with an extensive international real estate portfolio in the UK, China, Japan and Thailand.

BTS Group Holdings PCL (BTSG) is Thailand’s mass transit system service provider and is involved in diversified businesses including media, property and services. The company is committed to offering “city solutions” to make sustainable city development across Asia.