Two Capital Positions Itself to Acquire Prime RCA Railway Land, Targeting Multi-Billion-Baht Redevelopment in Bangkok's CBD

The site, once a legendary entertainment district in the 1990s, has emerged as one of the most strategically valuable redevelopment opportunities in the capital. Its 30-year lease with Narai Ruam Sub Phap Co., Ltd., led by prominent businessman Mr. Chalee Sophonpanich, expired on October 2, 2022. While Narai Ruam Sub Phap continues under a year-by-year extension, the SRT subsidiary SRT Asset Co., Ltd. (SRTA) is preparing a new long-term lease model and evaluating project value. Negotiations with the incumbent tenant are expected to conclude within 2-3 months.

Two Capital's Strategic Interest

Two Capital's management, led by CEO Mr.Wikran Supamongkol, confirmed the company's interest in the RCA redevelopment, citing its unmatched financial capacity, backed by international bank guarantees and a diversified shareholder base combining Thai and Chinese strategic investors. "RCA represents a generational opportunity to integrate transportation, commerce, and lifestyle in the heart of Bangkok. With our credit-backed financial strength, we can deliver a world-class mixed-use development aligned with government policy," Mr. Wikran stated.

The RCA site is uniquely positioned between Bangkok's emerging CBD in Rama IX and the high-rise cluster of New Phetchaburi Road. It is directly connected to mass transit (MRT Blue Line, Airport Rail Link) and expressways, with nearby land prices recently recorded at THB 350 million per rai (approx. USD 9.5 million per rai). Its redevelopment potential aligns with the Ministry of Transport's vision of transforming the district into a modern economic hub integrating business, entertainment, tourism, and residential living.

Company Profile: Two Capital Company Limited

Founded on June 30, 2011, Two Capital operates in freight and passenger transport (land, sea, and air), both domestically and internationally. The company maintains hundreds of billions of baht in verifiable credit lines from leading foreign banks, enabling it to issue international-standard bank guarantees for large-scale projects and investments.

Registered Capital: THB 5.34 billion

Major Shareholders:

Mr. Wikran Supamongkol — 51% (THB 683.47 million)

Chinese strategic investor group — 20% (THB 268.03 million)

Mr. Charn Thanathan — 19% (THB 254.63 million)

Mr. Piyawat Siripitupoom — 10% (THB 134.01 million)

Financials (2023): Total assets THB 1.34 billion, liabilities THB 236,810, revenues THB 1.34 million, net profit THB 107,503.

With minimal liabilities, substantial asset backing, and high-value international credit facilities, Two Capital is positioned as a credible, capital-strong contender for one of Bangkok's most prestigious land redevelopment projects.

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