Sumitomo Forestry Singapore Ltd. signed an agreement to acquire 49% stake in PF Forestry Co., Ltd. from Property Perfect Public Company Limited (SET:PF) for approximately THB 250 million on May 14, 2019. Sumitomo Forestry Singapore Ltd. will acquire 2.45 million shares for THB 100 each. The Board of PF Forestry Co., Ltd. will comprise of 2 representatives from Sumitomo Forestry Singapore Ltd. and Property Perfect Public Company Limited each. The Board of Directors of Property Perfect Public Company Limited approved the transaction on May 14, 2019.