SUMI TRUST BANK CONCLUDES AN ENVIRONMENTAL, SOCIAL & GOVERNANCE INVESTMENT IN THE FORESTIAS BY MQDC, – THE FIRST FOR THAI COMPANIES
May 24th 2023, Tokyo, Japan – After an in-depth evaluation and negotiation process, Japan’s Sumitomo Mitsui Trust Bank, Limited (President: Mr. Kazuya Oyama; hereinafter referred to as “SuMi Trust Bank”) has decided to make an investment of US$10 million in THE FORESTIAS by MQDC, a development uniquely aimed at the coexistence of nature, life, and human beings (hereinafter referred to as the “Project”) and located in the metro Bangkok region. This is the first such investment agreement to be entered into with a South-East Asian based company.
Underscoring the SuMi Trust Bank rationale for the investment, Mr. Masaya Noda, Managing Executive Officer, SuMi Trust Bank noted, “Our organization is committed to creating new value with the power of trusts and let prosperous future for our clients and society bloom, setting the stage for a prosperous and positive future. By focusing on real estate development that addresses existential societal issues such as the relationship with nature, the aging of our society and sustainable urban living, THE FORESTIAS corresponds to our purpose and vision, and we truly sympathize the philosophy of the project, MQDC, and its management team.”
MQDC is the real-estate development subsidiary of DTGO Corporation Limited (hereinafter referred to as “DTGO”) which also engages in investment, import/export, and robotics through other subsidiaries. Mr. Thanin Pornsiritivet, DTGO Group CFO, praised the visionary approach taken by SuMi Trust Bank in making such an investment, commenting “We are honored to welcome SuMi Trust Bank as an investor in THE FORESTIAS and proud to have our development approach recognized by such an important, influential, and ground-breaking financial organization”. Mr. Kittiphun Ouiyamaphun, President and Project Lead of The Forestias by MQDC, stated, “I am very grateful of the trust SuMi Trust Bank is providing to demonstrate the potential of modern urban planning to create sustainable solutions to the global pain points balancing well-being for human and other forms of life.”
DTGO has earned a high reputation for ethical practice, sustainability, and social contribution initiatives. In addition to donating 2% of its revenues to foundations, DTGO is also actively involved in non-profit activities in the fields of education, welfare, and the environment, and has been recognized worldwide as a company with an exemplary management philosophy. For example, DTGO has been selected for five years in a row (2019 to 2023) as the “World’s Most Ethical Companies” by the Ethisphere Institute, a specialized corporate ethics research institute in the United States.
This investment by SuMi Trust Bank marks a notable success for DTGO Japan which is a DTGO subsidiary established in 2019 with the objective to build complementary relationships with Japanese companies to leverage Japanese innovation and investment, and was instrumental in initiating the process with SuMi Trust Bank. Mrs. Sasinan Allmand, Country Director of DTGO Japan and President, International Special Business Development of DTGO, emphasized her belief that this investment by SuMi Trust Bank is a crucial milestone in a new trend of purpose-driven financing and investment and the next step in the evolution of a strategic vision for sustainability and partnership, saying “We are excited to deepen our relationship with SuMi Trust Bank and build a stronger foundation for future projects both for ourselves and for the category as whole. We believe this investment transcends the dollar amount to represent a commitment to life, the environment and society as a whole and demonstrates how business can be an agent for positive change”.
- About SuMi Trust Bank
- Established in 1925, SuMi Trust Bank is Japan’s leading trust bank with JPY 248 trillion (USD 2.03 trillion) of custody assets and JPY 127 trillion (USD 1.04 trillion) of assets under management as of March 2022. SuMi Trust Bank is the only dedicated trust banking group in Japan, uniquely positioned with its business model duality in trust and banking. SuMi Trust Bank provides a wide range of services concerning commercial banking business, asset management and administration, trustee business such as pension trusts and investment trusts, real estate brokerage SuMi Trust Bank is No. 1 ranked in many of the trust related business areas. It owns the leading asset management company in Asia and is also ranked No. 1 in asset administration business. SuMi Trust Bank’s client is broad, ranging corporation to individuals, and pension funds to financial institutions, and provides diverse financial services to these clients.
- About MQDC
-
Name Magnolia Quality Development Corporation Limited Head Office Bangkok, Thailand Establishment 1994 Business Activities Planning, operation and management of THE FORESTIAS Officers Mr. Visit Malaisirirat Final parent company DTGO Corporation Limited
- About THE FORESTIAS
-
Project Location BangNa, Bangkok, Thailand Project area About 391,000 square meters Business Overview Development and operation of residential housing, hotel and service apartments, offices, commercial facilities, health & brain care centers, and community centers
(Appearance of the Project)
Characteristics - Coexistence with nature (decarbonization, control of heat island phenomena, control of air pollution, flood control measures, expansion of biodiversity through the introduction of forest regeneration and environmental technologies)
- Multi-generational symbiosis (development of properties where young people to elderly people can live together, deployment of exchange facilities and healthcare & brain care facilities, and living in harmony with nature)
Web site https://mqdc.com/our-business/theme-project/theforestias/about
- About DTGO Japan
-
Name Japan Branch Office Head Office Tokyo, Japan Establishment 2019 Business Activities Japan innovation and investment Officers Mrs. Sasinan Allmand Final parent company DTGO Corporation Limited Web site https://dtgojapan.com/