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One of Bangkok’s most famous soapy massage parlours up for sale for 470 million baht

webfact

By webfact
in Bangkok News

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webfact Grand Master Member

webfact

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6pm1.jpg

Picture: Daily News

 

Daily News reported that Thai netizens were busy sharing a business for sale advertisement with a difference.

 

It was what Thais call an "Ab Ob Nuat" or soapy massage parlor.

 

For just 470 million baht you could have the 140 room establishment on Arun Amarin Road in the Pin Klao area of Bangkok. 

 

6pm.jpg

Picture: Daily News

 

There were staff to run the three rai property that has three buildings and five floors including a 50 table cafe.

 

It was all quite legitimate.

 

Profits were 3 - 6 million per month.

 

6pm2.jpg

Picture: Daily News

 

The reason for the sale?

 

The owner was getting on in years and has no heirs. 

 

264238405_4211885042250654_9174000348053769307_n-768x576.jpg

Picture: Daily News

 

It was also reported that after the business was put up for sale a few months ago there is an interested buyer and finer details are now being worked out. 

 

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Picture: Daily News
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Liverpool Lou Star Member

Liverpool Lou

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9 minutes ago, RichardColeman said:

costs 470 million and takes 3-6 million a month ? Not sure I'd want a risky business , that would take potentially over 13 years to just get my money back before actually paying me a profit

Those will be the legitimate massage/café revenues in the books, the actual revenue could easily be two or three times that!

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alanrchase Gold Member

alanrchase

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5 minutes ago, RichardColeman said:

costs 470 million and takes 3-6 million a month ? Not sure I'd want a risky business , that would take potentially over 13 years to just get my money back before actually paying me a profit

The three rai of land it is sitting on in Bangkok is probably worth a fair bit on it's own so nowhere near 13 years to get your money back.

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JCauto Gold Member

JCauto

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9 minutes ago, Liverpool Lou said:

Those will be the legitimate massage/café revenues in the books, the actual revenue could easily be two or three times that!

So could the actual costs which would also be off the books! Shady as, if you've not got the "connections", you do not want to be in this business.

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Gsxrnz Platinum Member

Gsxrnz

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1 minute ago, kingstonkid said:

I have a suggestion why don't we form a consortium and buy it under the ASEAN NOW BANNER

 

Good idea - I'm a qualified accountant and I shotgun the position of Treasurer.

 

Send me the money!

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Sydebolle Platinum Member

Sydebolle

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If I had 470 million I would certainly just enjoy the fruits of my savings. With a life expectancy of, say 30 years, it makes 16 million a year or more than one million Baht a month. That is without interest and compound interest. 
But yeah, a general receiving his year-end bonus for his dedicated work for the public and the good of the country, might opt for this money-parking option and whoever thinks of laundering now .... misunderstands what a soapy is for in the first place ???? 

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Gsxrnz Platinum Member

Gsxrnz

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At circa 50M profit (assuming after tax) per annum it's a steal.  Allowing for a notional rental ROI of say 8% (37.6M) that leaves you with 12.4M of free money, plus capital gain.

 

Only one thing missing in the equation - customers.

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Mac Mickmanus Star Member

Mac Mickmanus

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4 hours ago, RichardColeman said:

costs 470 million and takes 3-6 million a month ? Not sure I'd want a risky business , that would take potentially over 13 years to just get my money back before actually paying me a profit

After that time, you would have gotten your initial investment back and also then be the owner of a property worth 470 million , so, you would have doubled your money in that time frame 

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mancub Gold Member

mancub

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3 hours ago, BritManToo said:

It's actually "Ap, Op, Nuat, Nap" ...... but they rarely say the "Nap"

Which roughly translates as Wash, perfume, massage, <deleted>

Nothing better than an afternoon nap !

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Kinnock Gold Member

Kinnock

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8 hours ago, RichardColeman said:

costs 470 million and takes 3-6 million a month ? Not sure I'd want a risky business , that would take potentially over 13 years to just get my money back before actually paying me a profit

Assuming a 20% profit margin (before tax and 'tax'), it could take even longer than that.

 

Could only make business sense as a money laundering operation.

Edited by Kinnock
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