Dr. Wichian Pathayanant, CEO of Chao Phraya Mahakhan Public Company Limited (CMC), a real estate developer in high-potential locations, stated that after the government eased lockdown measures in high-control provinces and confirmed plans to open the country within 120 days as previously announced, there is a positive trend that the Thai business sector will have the opportunity to recover more quickly by the end of this year. This is coupled with CMC's profits in the real estate sector during the first half of 2021, which have grown significantly compared to the same period last year.

Currently, it is an opportune time for CMC to follow its strategic plan for continuous revenue recognition (Recurring Income) by establishing two subsidiary groups: a Hospital Company and a Hotel Company to support business expansion and clarify the operational structure.

 

Hospital Company

TeleDoc Co., Ltd. operates in the medical and hospital sector, running private hospitals and healthcare facilities, treating patients, and importing medical supplies, chemicals, and all types of medical equipment.

C-Meditech Co., Ltd. operates in the field of medicine and herbal pharmaceuticals, producing drugs and chemicals used for medical treatment.

 

Hotel Company

C2H Co., Ltd. manages short-term and long-term rental accommodations (Chain Hospitality), operating hotels, lodgings, recovery facilities, and expanding from residential real estate development into the hospitality sector.

 

          For the establishment of the Hospital business group, CMC sees business opportunities and a continuous trend in the increasing demand for healthcare services, including future preventive healthcare trends. Currently, TeleDoc has invested in the hospital sector, starting from late 2019, investing in P. Physician Hospital, a leading hospital in Nakhon Ratchasima, with an investment of over 170 million baht for a 25% stake, and plans to invest in several other hospitals in the near future.

As for the Hotel Company, CMC sees growth opportunities in the hospitality sector, which will provide continuous revenue after the country opens up. In the third quarter of 2021, C2H expanded its global hospitality network by partnering with OAKWOOD Worldwide to manage serviced residences, launching its first project, THE CUVÉE Tiwanon, a luxury condominium in the Bangkok-Tiwanon area, valued at over 2 billion baht, and is preparing to launch a new hospitality project in a high-potential location in the Bangkok-Thonburi area soon.

  “CMC believes that the diversification into two new business lines, hospitals and hotels, will be a significant change that helps mitigate risks in CMC's operations in the long term, enabling continuous revenue recognition and sustainable growth in the future. CMC will strive to operate its business to create sustainable value for the company, customers, stakeholders, and society as a whole,”