Padaeng Properties Co Ltd, a 100%-owned subsidiary of Padaeng Industry Plc (PDI), will jointly invest with International Properties Management Co Ltd in the Baan Rim Mae Nam building project by holding a 50% stake in the new company being set up to operate the project. The new company will be initially capitalized at Bt46 million. The project will have an investment value of about Bt600 million. The decision was reached at PDI board meeting no.1/1995 on Febuary 27, 1995. In addition, Padaeng Properties Co will also sell land adjacent to the Chao Phrya River, Charoen Krung Road, Yannawa District, Bangkok with an area of 3 Rai 2 ngarn 9 square wah worth Bt288 million for the joint investment project. Translated by the Nati