SC ASSET Corporation targets revenue of Bt20 billion in 2019 as it drives income growth of more than 10 per cent a year. It is launching 17 residential projects worth Bt27 billion this year.
Chief executive officer Nuttaphong Kunakornwong told a news conference yesterday that the company targeted total income of Bt14.8 billion and sales revenue of Bt16 billion this year, the latter up by 38 per cent.
Six projects will be launched in the first half of this year, worth a total of Bt14 billion. Four are detached-housing projects and the other two are condominiums.
In the second quarter, the company plans to open 11 horizontal projects, worth a combined Bt13 billion.
Meanwhile, SC Tower, its new office building, has enjoyed success with 100 per cent of its space booked, and will be operational later this quarter, he said.
He added that the company was confident of reaching its revenue targets as gross domestic product grows by at least 3 per cent, as the government has continued to invest in infrastructure projects that will improve potential homebuyers’ purchasing power.
In the first nine months of last year, the company reported total revenue of Bt11.4 billion and net profit of Bt1.7 billion.
“We estimate that the real-estate market this year will grow by more than 5 per cent compared with last year thanks to recovering demand,” Nuttaphong said.
He added that the global economy would be affected by US policy under President Donald Trump, and this would affect the Thai real-estate sector in the medium to long term. In the short term, two issues should be closely watched, as both pose a challenge for expansion of the real-estate business.
First, household debt is growing at a significantly decelerated rate, even though its ratio to GDP is still high. Second, non-performing loans in the housing market are on an upward trend, leading to caution by banks when granting mortgages.
However, the company remains confident that demand for middle and upmarket homes is still strong after many potential buyers in this category delayed their purchases last year, he said.
Meanwhile, the company has set a strategy for sustainable double-digit revenue annual growth to achieve its income target of Bt20 billion in 2019.
“Our strategies include top-line growth: a proactive strategy to develop residential projects at all price levels to maintain SC’s leadership in the high-end market and expand our share in the mass-market segment,” Nuttaphong said.
The company is also focusing on human-centric innovation at all price levels to respond to the fast-changing lifestyles of people in a digitised world. It will also maintain the excellent quality of SC goods and services. It will digitise internal and external processes to streamline its operations, create flexibility, and fine-tune its organisational structure.
Regardless of how fast the world changes, SC is ready to grow sustainably both in terms of quantity and quality, he said.
Source : Property The Nation
Chief executive officer Nuttaphong Kunakornwong told a news conference yesterday that the company targeted total income of Bt14.8 billion and sales revenue of Bt16 billion this year, the latter up by 38 per cent.
Six projects will be launched in the first half of this year, worth a total of Bt14 billion. Four are detached-housing projects and the other two are condominiums.
In the second quarter, the company plans to open 11 horizontal projects, worth a combined Bt13 billion.
Meanwhile, SC Tower, its new office building, has enjoyed success with 100 per cent of its space booked, and will be operational later this quarter, he said.
He added that the company was confident of reaching its revenue targets as gross domestic product grows by at least 3 per cent, as the government has continued to invest in infrastructure projects that will improve potential homebuyers’ purchasing power.
In the first nine months of last year, the company reported total revenue of Bt11.4 billion and net profit of Bt1.7 billion.
“We estimate that the real-estate market this year will grow by more than 5 per cent compared with last year thanks to recovering demand,” Nuttaphong said.
He added that the global economy would be affected by US policy under President Donald Trump, and this would affect the Thai real-estate sector in the medium to long term. In the short term, two issues should be closely watched, as both pose a challenge for expansion of the real-estate business.
First, household debt is growing at a significantly decelerated rate, even though its ratio to GDP is still high. Second, non-performing loans in the housing market are on an upward trend, leading to caution by banks when granting mortgages.
However, the company remains confident that demand for middle and upmarket homes is still strong after many potential buyers in this category delayed their purchases last year, he said.
Meanwhile, the company has set a strategy for sustainable double-digit revenue annual growth to achieve its income target of Bt20 billion in 2019.
“Our strategies include top-line growth: a proactive strategy to develop residential projects at all price levels to maintain SC’s leadership in the high-end market and expand our share in the mass-market segment,” Nuttaphong said.
The company is also focusing on human-centric innovation at all price levels to respond to the fast-changing lifestyles of people in a digitised world. It will also maintain the excellent quality of SC goods and services. It will digitise internal and external processes to streamline its operations, create flexibility, and fine-tune its organisational structure.
Regardless of how fast the world changes, SC is ready to grow sustainably both in terms of quantity and quality, he said.
Source : Property The Nation
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