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Gulf Energy Development Plans $4.6bn Power Plant Spend After IPO

Gulf Energy Development’s billionaire founder Sarath Ratanavadi plans US$4.6 billion of investment in power plants over the next four years after the company’s listing this month. The initial public offering’s proceeds will help fund some of the outlay, with the rest coming from loans, Mr Sarath, the company’s chief executive, said in his Bangkok office. […]

UN Forced Out of Billionaire Kuok’s Yangon Hotel: Southeast Asia

The United Nations is being forced out of billionaire Robert Kuok’s Traders Hotel in Yangon next month amid a tourism boom in Myanmar after housing various offices in five floors of the property since 2007. The UN signed its last lease for the hotel owned by Kuok’s Shangri-La Asia Ltd. (69) in August 2012 for […]