The Board of Directors' Meeting of Boutique Corporation Public Company Limited No.5/2020 held on 23 April 2020 has passed the resolution to approve the establishment of a new subsidiary in Thailand. The name would be Boutique Synergy Limited ("Boutique Synergy"). A holding company for future investment, and/or management and/or service provider in hotel business, office and/or real estate industry with registered capital THB 100,000.

Paid up capital was THB 25,000. Par value is THB 10 per share. Directors were Mr. Prabsharan Singh Thakral and Mr. Manmohan Singh Thakral.