The post Thailand’s Dusit Thani Shares May Remain Under Pressure After Rout As Family Feud Escalates: Analyst appeared on BitcoinEthereumNews.com.

An artist rendition of Dusit Central Park, which will occupy 3.7 hectares of prime real estate at … More the junction of Silom and Rama IV roads in central Bangkok. Dusit Thani Dusit Thani shares may remain under pressure despite tumbling about 30% this year as the company remained in the red and heirs of the company’s late founder Chanut Piyaoui fought for control of the Thai hotel chain. Chanin Donavanik and his sisters Sinee Thienprasiddhi and Sunong Salirathavibhaga inherited the bulkd of a 49.7% stake in Dusit Thani after their mother, Chanut, a pioneer in the That hospitality industry, died in 2020. After the death of the matriach, Chanin’s sisters have been fighting for control of the company. The feud escalated this week after Chanut and Children, which is owned two-thirds by Chanin’s sisters, rejected the company’s 2024 financial statements and blocked the proposed re-appointment of four directors, including the chairman of the board, Arsa Sarasin, at the company’s shareholders’ meeting, according to local media reports. Chanin is currently vice-chairman of the board. In a statement reported by Thai media, Chanut and Children said it rejected the financial statement because it did not receive satisfactory answers from the management with regard to the company’s assets, liabilities and investments. Dusit Thani was among the hardest hit by the Covid-19 pandemic. It has accumulated a net loss of more than 3.3 billion baht ($100.8 million) over the past five consecutive years and has not paid dividends to shareholders since 2020. “The unresolved matters within the family of major shareholders could put pressure on the stock’s short-term sentiment,” said Wijit Arayapisit, strategist at Bangkok-based Liberator Securities. The escalation of the family feud comes at a critical time for Dusit Thani, which could potentially turn around with the $1.3 billion Dusit Central Park,…

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Filed under: News - @ May 30, 2025 9:21 am