SA delivered a signal of strong performance in Q4/2022, resulting from tourism business with an influx of customers and embraced the awaiting transfer of 6,800 million baht with 3-year recognition, pushing for bright future
Siamese Asset Plc. (SA) delivered a signal of performance trend in Quarter 4/2022 to grow more than Quarter 3/2022, resulting from bustling of foreign tourists and investors that supported the revenue of service business whilst having the sales awaiting the real estate transfer of more than 6,800 million baht with 3-year recognition. “Kajonsit Singsansern” recently revealed the Grand Opening of MONSANE’ Exclusive Villa Ratchapruek-Pinklao with excellent feedback. Customers had already placed reservation money for 15 houses. Get ready to launch 3 new projects soon, especially low-rise projects with the anticipation to push the performance of the year 2023 to grow exponentially.
Mr. Kajonsit Singsansern, Chief Executive Officer of Siamese Asset Public Company Limited or SA, a full-service real estate developer under the concept ‘Asset of Life that Generate Profit for Every Lifestyle’, revealed that from the performance trend in Quarter 4/2022, the Company anticipated that it could grow continuously from Quarter 3/2022 due to the return of foreign tourists and investors, which were supportive factors of housing industry, hotel, and food of the Company. Moreover, the Company had recognized the revenue from a lot of high-rise projects.
Currently, the Company has the projects in progress for sales in the value of 24,000 million baht with the inventory of 4,700 million baht in approximate as well as the Backlog from sales awaiting transfer of more than 6,800 million baht, which are divided into high-rise projects for 90% and low-rise projects for 10% with the revenue recognition until the year 2025.
“Recently, the Company has arranged the Grand Opening of MONSANE’ Exclusive Villa Ratchapruek-Pinklao, a luxury villa project in Modern Classic style on potential location, next to Phran Nok Road-Phutthamonthon Sai 4, Thawi Watthana Sub-District, Bangkok with the starting price of 29-50 million baht for 59 houses. The feedback was excellent with reservation on 15 villas”.
Moreover, the Company has 3 new projects that are in the process of development. There are 2 low-rise projects, which are Siamese Holm Phahol-Viphavadi and Monsane Ratchapruek=Cheangwattana and 1 high-rise project, which is Siamese Talingchan, the Siamese’ new Wellness project that is expected to be launched soon.
For the progress of other businesses, such as Cloud Kitchen, the Company is currently opening 25 branches and is ready to open 3 more branches within this year. At the same time, for asset management business, there is 1 project that is in the process of development and making a tender offer for NPA-NPL for additional management. The revenue is expected to be recognized from the year 2023 henceforth.
Furthermore, the Company still maintained the strategy to adjust the proportion of low-rise project development to obtain 50% of the total revenue within 3 years (Quarter 1/2022-Quarter 4/2024) with the anticipation that within the year 2023, the Company will obtain the revenue from low-rise about 3,000-4,000 million baht. The Company believes that this will be another important factor that support the Company’s performance to grow exponentially.