The company last week announced the appointment of a new CEO, Johnson Tan Chin Kwang, who takes over from Hubert Viriot.
Mr Viriot is returning to a post with IFA Hotels and Resorts in Dubai, which in February announced that it had sold its 24.97 per cent stake in Raimon Land to Singapore’s JS Oil Pte Ltd, part of the Jit Sun Group, for B2.14 billion.
At the time of the sale the financial press reported that JS plans to expand Raimon Land’s into other markets in Asia and the US.
“Industry experts speculate that the group may also shift towards hospitality assets,” Mr Barnett wrote.
During the property boom of the mid-2000s Raimon was a significant player in Phuket, developing both Kata Heights and Kata Gardens, and throwing large amounts of sponsorship at the King’s Cup Regatta.
More recently, however, the company has been focused on developments in Pattaya and Bangkok. In the first quarter of the year it reported a profit of B142 million, compared with a loss of B70 million in the same period of 2012.