In an impressive strategic move, ALLY Global Management (“ALLY”) and Range Real Estate Partners (“RANGE”) have collectively made a substantial investment in iBorrow. For the uninitiated, iBorrow is not just any loan originator; it stands out as a fully integrated servicer and proficient asset manager, targeting transitional commercial and residential real estate loans across the sprawling United States. Since its conception, iBorrow has impressively deployed approximately $2 billion in loan capital, effectively providing real estate bridge loans across diverse asset types including industrial, retail, multifamily, and hospitality to professional, experienced, and entrepreneurial borrowers. This timely investment in iBorrow was facilitated through the ALLY USA Real Estate Fund (“AUSRE”), a real estate platform ingeniously founded and managed by ALLY and RANGE. Notably, this platform had an important milestone in March 2024, when it successfully closed its inaugural special situations fund, AUSRE I. This fund attracted an elite group of limited partners…
THAI.NEWS - Thailand Breaking News
The tranquillity of Pattani’s serene landscape was shattered on Monday night as a devastating explosion erupted on Road 42 in Nong Chik district. The violent blast catapulted an armoured police pickup truck off the thoroughfare, injuring six brave policemen. This dramatic scene unfolded against the backdrop of a region known for its idyllic sceneries and close-knit communities, a stark reminder of the lurking dangers that exist within. The Internal Security Operations Command’s (Isoc) southern frontline office issued an urgent advisory for motorists traversing through the southernmost province to heighten their vigilance. The unsettling incident occurred on one of Pattani’s principal arteries, Road 42, connecting Songkhla with the southern provinces of Narathiwat, Pattani, and Yala. This vital route was disrupted by an act that echo through the quiet surroundings, a grim testament to the ongoing unrest in the area. The six policemen, who had just left a duty checkpoint, were en…
Recently, Thai Oil Public Company Limited achieved a remarkable milestone by being selected as a distinguished member of the global sustainability index, known as the “FTSE4Good Index Series.” Remarkably, the company has earned a prestigious spot in both the “FTSE4Good Emerging Index” and the “FTSE4Good ASEAN 5 Index.” The “FTSE4Good Index Series” represents a benchmarking index that evaluates and recognizes the sustainability operations of companies worldwide. Developed by FTSE Russell in the United Kingdom, this index meticulously measures company performance based on their adherence to sustainable business practices, with a keen focus on Environmental, Social, and Governance (ESG) aspects. The FTSE4Good Index Series is specifically designed to serve as a valuable resource for investors who prioritize ESG factors in their investment deliberations. Securing a place in the FTSE4Good Index Series is a testament to Thai Oil Public Company Limited’s unwavering commitment to sustainable business practices. This recognition not only underscores…
The damaged Bangkok Samui 2 after the collision with a speedboat returning from Rin Beach on Koh Phangan, off Koh Samui in Surat Thani on Monday night. (Photo: Wat Plai Laem Koh Samui Rescue Unit) On a tranquil Monday night near the picturesque island of Koh Samui, two speedboats met with an unfortunate fate. A tragic collision claimed one life and left two individuals injured, casting a shadow over the serene waters. This surprising incident happened around 8:30 pm and was subsequently reported to the local police. The collision involved two speedboats traveling in opposite directions: the Chor Chokchanita 22, operated by Funnyday Co., and the Bangkok Samui 2, owned by Bangkok Samui Hospital. Pol Lt Sirachat Kamunee, an officer on duty at the Bo Phut police station, shared this bewildering news on the following day, leaving the community in disbelief. Onboard the Bangkok Samui 2 were two dedicated hospital…
In recent political developments, the Democrat Party threw a wrench into Transport Minister Suriya Jungrungreangkit’s audacious proposal: granting a 30-year extension to the Don Muang Tollway operator in return for fare reduction to 50 baht. The expressway, stretching 21 kilometers, weaves its way from Bangkok’s bustling Din Daeng area to the serene National Memorial in Pathum Thani’s Lam Luk Ka district. The proposal, a bold yet contentious maneuver, emerged as a countermeasure to the concessionaire’s impending fare hike slated for December 22. This hike, set to climb by five to 10 baht per section, would see the rate jump from 80 to 90 baht for the Din Daeng to Don Muang segment and from 35 to 40 baht for the Don Muang to National Memorial stretch. Mr. Suriya posits that extending the concession is the government’s financial panacea, mitigating the burden of compensating for slashed toll revenues. However, Charnchai Issarasenarak,…
The Royal Thai Police’s (RTP) Ordnance Division has come forward to refute allegations about distributing substandard bulletproof vests, following a viral image that showed body armor layered with plywood. Pol Maj Gen Nirandon Sirisangchai, the division’s commander, assured that the RTP has never acquired body armor or armor plates using wood as a primary material. “The purchasing and inspection processes are entirely transparent and verifiable, in strict compliance with the prevailing laws and regulations,” stated Pol Maj Gen Nirandon. He emphasized that every single vest meets the stringent standards established by the National Institute of Justice and is backed by manufacturer guarantees. Nonetheless, Pol Maj Gen Nirandon encouraged any officers who had been injured while wearing the vests or were concerned about their quality to submit them to the division for thorough inspection. This open-door policy, he believes, reassures the officers and the public about the integrity and reliability of…
The Democrat Party has sounded a clarion call of opposition to Transport Minister Suriya Jungrungreangkit’s audacious proposal—offering a 30-year extension to the operator of the Don Muang Tollway in exchange for a tantalizing fare reduction to 50 baht. This 21-kilometre expanse of expressway stretches seamlessly from Bangkok’s bustling Din Daeng area to the tranquil confines of the National Memorial in Pathum Thani’s Lam Luk Ka district. Now, why all the hullabaloo, you ask? The concessionaire is champing at the bit to increase fares by a modest five to ten baht come December 22. This hike would nudge the rate from 80 to 90 baht for the Din Daeng to Don Muang section, and from 35 to 40 baht for the Don Muang to National Memorial segment. Suriya, ever the savvy operator, claims that extending the concession would alleviate the government’s financial strain, sparing it from compensating for the dip in…
Throngs of Thai citizens eagerly anticipate the unveiling of an upcoming public park, dedicated to the cherished memory of His Majesty King Bhumibol Adulyadej the Great. This verdant sanctuary, destined to become a significant new landmark in Bangkok, will span an impressive 279 rai in the Dusit district. Thousands of newly planted trees will grant the capital a much-needed “green lung,” offering locals and visitors alike a tranquil escape from urban chaos, fostering a deeper connection with nature. Strategically interspersed throughout the park, visitors will encounter poignant reminders of King Rama IX and Her Majesty Queen Sirikit the Queen Mother. These meaningful tributes provide a rich educational experience, highlighting their monumental contributions to forest and water resource management during King Rama IX’s remarkable 70-year reign. His tireless and selfless devotion to his people remains etched in the hearts of Thais, nearly eight years after his passing on October 13, 2016.…
Famous chefs introduced a culinary delight with a twist in Bang Khunthian district, Bangkok, on a sunny July 19th. Their star ingredient? The blackchin tilapia, a fish that’s causing quite a stir far beyond the frying pan. This effort is a part of a broader initiative by the government to curb the population of this invasive species. (Photo: Apichart Jinakul) Prime Minister Srettha Thavisin has thrown down the gauntlet to the Agriculture and Cooperatives Ministry, urging it to up its game in tackling the blackchin tilapia menace. Originally calling West Africa home, these fishes have found a new abode in Thailand’s waterways, much to the government’s chagrin. On a decisive Monday, the Prime Minister spoke candidly about the need to pinpoint how these unwelcome guests managed to spread far and wide. In the wake of this directive, Agriculture and Cooperatives Minister Thamanat Prompow swiftly rallied to Samut Sakhon. There, he…
A buzzworthy billboard promoting multinational passport and citizenship services in Chinese popped up at the Huai Khwang intersection recently, only to be hastily removed the following morning. (Photo: Pai Charudul Facebook account) The Thai government is cracking down hard on illegal Chinese businesses after a certain company’s audacious billboard in Bangkok ignited a firestorm on social media. Prime Minister Srettha Thavisin laid down the law during a visit to the Huai Khwang police station, where he was tackling issues like loansharking and drug trafficking. With the area being a hotspot for Chinese tourists and expats, Mr. Srettha also instructed authorities to ferret out any dubious Chinese enterprises operating there. The controversy caught fire after Facebook user Pai Charudul posted a snapshot of the billboard on Sunday. In bold Chinese characters, the billboard touted rapid passport and citizenship services, promising emergency solutions and boasting of 100% legal operations. It even assured…