Bangkok: MGI, the owner of Miss Grand, has successfully acquired the rights to Miss Universe Thailand from JKN for a total of 180 million baht. A joint announcement regarding this acquisition is scheduled to be made tomorrow.
According to Thai News Agency, Mr. Nawat Itsaragrisil, the Chief Executive Officer of Miss Grand International Public Company Limited (MGI), announced the acquisition on Facebook. He confirmed that MGI is now the official copyright holder and shared a picture of Miss Universe Thailand. An invitation has been extended to the media for a press conference on February 18th at MGI Hall, located on the 6th floor of Bravo BKK shopping center, with Mr. Nawat and Ms. Anne Jakkaphong Jakrajutatip set to address the event.
MGI informed the Stock Exchange of Thailand that during the Board of Directors' Meeting No. 2/2025, held on February 17, 2025, approval was granted for the acquisition of the Miss Universe Thailand pageant rights for the years 2025 to 2029. This acquisition, from JKN Global Content Pte. Ltd., a Singapore-registered company wholly owned by JKN Global Group Public Company Limited, is valued at 180 million baht. The payment will be made using MGI's working capital of 30 million baht and a loan of 150 million baht from Mr. Nawat Itsaragrisil, a related person, without requiring collateral.
The strategic aim of this investment is to diversify and enhance the company's foothold in the beauty pageant industry by extending its reach to the Miss Universe stage, complementing the Miss Grand International stage. This expansion is anticipated to boost business opportunities, broaden the customer base, and elevate the brand's profile internationally, ultimately benefiting the company's long-term performance and shareholder returns.
The Board of Directors also sanctioned the borrowing of up to 150 million baht from related persons without collateral, authorizing the execution of the loan agreement and related documents. The loan, facilitated by Mr. Nawat Itsaragrisil, carries an interest rate of 2.5% per annum, with a repayment period of up to two years. Mr. Nawat, who holds 42.88% of the company's issued and paid-up registered capital, is a director, CEO, and major shareholder of MGI.