Gulf Development Public Company Limited (GULF), represented by Ms. Bung-on Suttipattanakit (right), Executive Director, received the Deal of the Year award in the Mergers & Acquisitions Deal category in recognition of the successful strategic amalgamation between Gulf Energy Development Public Company Limited (Gulf Energy) and Intouch Holdings Public Company Limited (INTUCH), which was completed on April 1, 2025. The award was presented by Mr. Asadej Kongsiri (left), President of the Stock Exchange of Thailand, at the SET Awards 2026, held at the Stock Exchange of Thailand.
The amalgamation between Gulf Energy and INTUCH was a large-scale and complex transaction involving listed companies in both Thailand and Singapore, as well as multiple groups of shareholders and stakeholders. The transaction therefore required careful management at every stage, with due consideration given to the rights and interests of relevant shareholders and stakeholders. The amalgamation also marked an important step in streamlining the group’s corporate structure, enhancing the efficiency of capital and asset management across the group, and increasing flexibility in business operations and investment. These benefits support GULF’s long-term growth and create further business opportunities across the energy, infrastructure, digital, Cloud and AI, and telecommunications sectors.
The award also marks another milestone in GULF’s series of successful strategic transactions. In 2022, Gulf Energy received the Deal of the Year award in the Mergers & Acquisitions Deal category at the SET Awards for its tender offers for securities of INTUCH and Advanced Info Service Public Company Limited (ADVANC). These transactions were followed by the restructuring and eventual amalgamation between Gulf Energy and INTUCH, which was completed in 2025.
The Deal of the Year Awards are part of the Business Excellence category of the SET Awards and recognize outstanding transactions across three areas: fundraising transactions with an offering value exceeding THB 3 billion, fundraising transactions with an offering value of up to THB 3 billion, and mergers and acquisitions transactions. Entries are evaluated across five key dimensions: Creativity & Challenges, Strategic Movement, Positive Impact, Governance, and Value Creation, covering areas ranging from the originality and challenges of the transaction and its strategic significance to its impact on the capital market, information disclosure, and value creation.
The SET Awards, jointly organized by the Stock Exchange of Thailand and Money & Banking Magazine since 2003, recognize listed companies, executives, and capital market professionals for outstanding achievements. The SET Awards 2026 marks the 23rd edition of the event. This year’s Business Excellence category comprises eight award types, including the Deal of the Year Awards, with the aim of recognizing achievements that contribute to enhancing the quality of Thailand’s capital market.
