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Billionaire Indian businessman Ashok Jaipuria: A big fan of Phuket

Billionaire Explains Phuket's Appeal

Friday, January 3, 2014
UPDATING All Day, Every Day

Mr Jaipuria's purchase of a villa leaves three remaining villas available at Malaiwana, sales staff at the estate have hastened to add.

Original Report

PHUKET: Billionaire Indian businessman Ashok Jaipuria disclosed today that he is a new owner at Phuket's Malaiwana luxury residences estate and that he likes what he sees on the popular Thai holiday island.

Such is his liking for Phuket that he will fly 260 friends to the island later this year to celebrate his birthday and is looking for the right kind of all-business-class aircraft.

He said after meeting with Phuket Governor Maitree Intrusud that Phuket was such a unique destination and even the present political disturbance in Bangkok should not unsettle anyone.

Disclosing for the first time his purchase at Malaiwana, an award-winning private estate of 19 villas and 12 residences overlooking the Andaman Sea, the chairman and CEO of Cosmo Films Limited said: ''We have a property at Nai Thon beach. That's a very nice area.

''I was looking in Thailand for property and we looked at Samui and we looked at Krabi and we looked at other places and we we thought that Phuket was a better option so we bought a property on Phuket.

''Phuket has a lot of activities, it has bays, it has marinas, it has golf. You have mountains. I am fond of organics. I go and stay at the farm sometimes, which is very nice.''

Cosmo Films, he said, has operations in the US, in Korea, in Japan and Europe. ''We are the biggest in the laminations business in the world,'' he said.

He added that although business was tough right now, ''going forward the years look good and the economy should do better.''

The governor greeted Mr Jaipuria enthusiastically at Phuket Provincial Hall in Phuket City and listened to what he had to say about the appeal of Phuket and Thailand.

''Thailand is a very good country and people are very service-oriented,'' he said. They are very efficient. I don't think i have any concerns on safety or security because even now, as you know, it's a problem in Bangkok but common people are not affected.

''There is no riot in Bangkok, there is no law and order problem, people are normal, business is good, tourism is good, so . . . ''

When the governor asked where Mrs Jaipuria was, Mr Jaipuria said she was ''shopping.'' The couple head back to India on a flight later today.

Comments

Comments have been disabled for this article.

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How can an Indian national buy property in Thailand ????
Where is the 51% Thai owners ????
Why does the goverment nothing in all these caes there is even proven in newspapers !

Posted by karsten on January 3, 2014 17:28

Editor Comment:

Larger investors are free from restrictions, karsten. Always have been.

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Good one Editor comment......
Karsten must read again first sentence is Billionaire ..

Posted by james on January 3, 2014 19:20

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a company can be fully foreign-owned, if the investment was made under The Thailand Board of Investment.

Posted by Anonymous on January 4, 2014 00:34

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@Karsten
Malaiwana estate parcels are not beach front, except Up Beach club - so what is a basis of 51% restriction?

Posted by Sue on January 4, 2014 00:41

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its a freehold property so no problem at all

Posted by mike on January 24, 2014 08:17


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