SC ASSET enjoys outstanding performance in the first half of this year with rising revenue, sales and profit.
The company is confident that the revenue for the entire year will top the target of 13.9 billion baht, planning to launch five projects in the second half of this year worth more than 8.8 billion baht. SC ASSET gears up to develop single detached houses to enter the new market segment under the brand ‘PAVE’ according to five-year business strategic plan to expand its gross income by 10 per cent annually. Mr. Nuttaphong Kunakornwong, Chief Executive Officer SC ASSET Corporation PCL or SC ASSET, the premium real estate developer which has developed quality single detached houses, townhomes and condominiums under the five-year business strategic plan to grow with quality and sustainability. He said SC ASSET has achieved the rise in sales, revenue and profit in the first half of the year. “SC ASSET earned the total sales of 5.93 billion baht, a rise by 71 per cent from 2014. The gross income was 5.931 billion baht, up by 37 per cent from last year, 5.913 billion baht of which came from two main business activities namely the residential projects, accounting for 93 per cent, and income from office rental business and services, accounting for 7 per cent. The company’s net profit increased to 658 million baht, increasing by 58 per cent from 2014. The rise in sales and revenue in the first half of this year was attributed to an expansion of luxury residential market particularly SC ASSET’s single detached housing project priced at 15 million baht upward. The sales in this segment rose by more than 67 per cent compared to the sales in the same period last year. The buoyant performance reaffirms SC ASSET leadership position in luxury-single detached houses market. In addition, SC ASSET also launched ‘Saladaeng One’, super-luxury condominium, and ‘The Crest Sukhumvit 34’, the luxury condominium. The company has closed the 100-per-cent sales, as more than 50 per cent of backlog have been transferred. SC ASSET also achieved the rise in profit from one of the five strategies aiming for ‘cost effectiveness’, whereas the company has planned to cut unnecessary expense which does not affect the quality of its products and services. Consequently, the net profit has increased. SC ASSET is confident that this year the company will achieve 13 billion baht of sales and 13.9 billion baht of revenue as targeted. According to the business plan in 2015, SC ASSET plans to kick off seven projects worth a combined 16 billion baht. During the first half of this year, SC ASSET has launched two super luxury projects worth a combined 7 billion baht, namely ‘Granada Pinklao-Phetkasem’ luxury home project and ‘Saladaeng One’ super luxury condominium. SC ASSET will continue to launch five projects in the second half of this year worth more than 8.8 billion baht. Three projects are single detached houses totaling 4 billion baht and the other two are condominium projects worth more than 4.8 billion baht.” Mr. Nuttaphong added, “In the third quarter of this year, SC ASSET plans to debut three modern-styled single detached housing projects, showcasing the latest design. It is the first time that SC ASSET has entered the single detached housing market priced between 3 million baht-5 million baht under the latest brand named ‘PAVE’. The single detached housing market is interesting because in the past three years, the market of this segment has enjoyed the biggest ratio of sales or one-thirds of the total single detached housing market in Bangkok and its surrounds. Therefore, by entering the new market segment, SC ASSET will expand its revenue accordingly to the five-year strategic plan to achieve the targeted revenue of 20 billion baht in 2019. In 2015, SC ASSET will launch the first ‘PAVE’ project in Rangsit, targeting to boost the revenue from PAVE projects to represent 10 per cent of the gross income.” ’PAVE Rangsit’ project is worth 1.4 billion baht. Located on an area of 81-2-51.3 rais, the project consists of 320 units. Starting at 3.99 million baht, the project stands out by its location on the main road of Rangsit-Nakhon Nayok Klong 4. Easily accessible to Kanchanapisek Ring Road Expressway, the project is located within the proximity of leading department stores, educational institutions and hospitals under the concept “PAVE MY SPACE”. The latest design caters to functional needs and creates happiness to all family members. The project comes with two designs; ‘PAVE X’ with usable space of 167 square metres and ‘PAVE Y’ with usable space of 156 square metres. Equipped with function, where the guest lounge features double living which has been SC ASSET’s signature function with spacious master bedroom, three bathrooms, two-car parking and a Thai-styled kitchen. Full facilities include clubhouse, fitness, swimming pool and a large garden covering more than 2 rais. The 24-hour security system ensures safety inside the property by access card, CCTV and alarming system. SC ASSET is also ready to introduce additional two projects. The first one is ‘Life Bangkok Boulevard Ramintra 65’, project valued 1.1 billion baht, on an area of 42-3-9.1 rais, comprising 152 units, starting at 6.99 million baht. The second project is ‘Life Bangkok Boulevard Ratchapruek-Pinklao’, project valued 1.5 billion baht, on an area of 57-2-98.4 rais, comprising 271 units, starting at 4.59 million baht. The company has already opened the presales of the three projects and enjoyed quick success as a total of 300 million baht of first phase has been sold. Mr. Nuttaphong summed up the economic situation and real estate market in the second half of the year, “Many parties have predicted that Thailand Gross Domestic Product in 2015 will be around 2.5-3.5 per cent, which is below the initial estimate early this year. It is viewed that the positive factors in the remaining half year are the growth of tourism industry as well as stable construction cost along with lower petrol price and interest rate. The negative factors are export sector and rising household debt ratio per GDP, which affect the purchasing power and the consumers’ ability to seek residential loans for medium-to-low-end market segment. At any rate, SC ASSET is certain that the company will be able to achieve sales and income as targeted because the residential market priced 10 million baht upward is still doing well. The revenue from this segment accounts for two-thirds of the SC ASSET’s total horizontal projects. Bank Rejection Rate of SC ASSET’s customers in the first half of the year stayed at 5 per cent, the same rate as that of last year. The company’s strategy to finish the construction before selling to customers and pre-approval before reservation help reduce the risks from bank rejection. At any rate, regardless of economic condition, ‘quality’ has been the integral part of SC ASSET strategy all along for sustainable growth. ขอขอบคุณข้อมูลจาก SCASSET
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