Chaiwat Luangamornlert, chairman of the executive board and founder of Siam Amazing Park, also known as Suan Siam, has announced the sale of all of the park's land for 10 billion baht, with all rides included free of charge, after sudden flooding caused preliminary damage of no less than 300 million baht. Chaiwat described it as the heaviest damage of his life. The company is currently short of liquidity and its reserve funds are exhausted; although some revenue is still coming in, it is not enough to cover the cost of caring for more than 300 to 400 employees. Without help from financial institutions, insurance companies, or the government, the company may have to let creditors sue and enter bankruptcy proceedings. The decision to put the business up for sale came after the company sought assistance from the government, but the prime minister commented that Chaiwat owns a great deal of land and is wealthy, and that if he can sell Suan Siam, he should sell it. Chaiwat has set the sale price at only 1,000 baht per square wah for the improved and filled land, compared with a market price of about 3,000 baht per square wah, for a total value of approximately 10 billion baht, and he is ready to give away all the rides for free in order to raise money to compensate employees. As for restoring the rides, Thai technicians had estimated repair costs at 100 million baht, but in practice this cannot be done because all the rides were imported from abroad, so they must be shut down and left until the manufacturers come to inspect safety standards under the German system. The restoration and reopening is expected to take three months, down from an earlier estimate of six months, depending on approval from engineers sent by the manufacturers. Chaiwat also said the incident lacked effective warnings, with water bursting into the area very quickly at 4 a.m. and the water level rising to cover the entire area within just one hour, unlike the great flood of 2011, when there was advance warning. He said the situation is now beginning to ease somewhat, thanks to cooperation from Bangkok Metropolitan Administration, especially Khan Na Yao district, which brought in water pumps to help quickly.
Flooding caused 300 million baht in damage, exhausting reserves and forcing the sale of the park's land and rides.
