CPanel has announced a continuous growth trend for the business in 2020, emphasizing strategies to expand its customer base and strengthen its portfolio, focusing on medium and large real estate contractors. The company aims to develop technology and reduce production costs, even as the overall real estate market slows down. Contractors are adapting by prioritizing faster construction, which is increasing the demand for precast products. The company is looking forward to signing new customer contracts while continuing to pursue both public and private sector projects, showcasing a backlog of 380 million baht and targeting a growth of 5-10% this year with projected revenues of 326-340 million baht.

Mr. Chakrit Teepakornsukasem, Managing Director of CPanel Co., Ltd., a manufacturer and supplier of precast concrete walls, revealed that the business direction this year shows a continuous growth trend. The company is adjusting its strategy to maintain its existing customer base while expanding to new customers, strengthening its portfolio by focusing on medium and large construction contractors and real estate developers with diverse project and building types.

Additionally, the company aims to enhance operational efficiency and reduce production costs by collaborating with Rajamangala University of Technology Eastern and Kasetsart University, Kamphaeng Saen Campus, to implement new technologies in production robotics. This initiative is designed to lower production costs and minimize errors or waste, resulting in higher quality outputs that can meet the demands of contractors.

“The overall real estate market this year remains sluggish and highly uncertain. Real estate operators are affected by loan-to-value (LTV) regulations, which have dampened sales and property transfer rates, leading some operators to reduce their inventory during Q4 2019 and into Q1 2020. However, these factors have prompted operators and contractors to adjust their strategies by cutting construction costs, reducing labor, managing risks, and shortening construction times to lower inventory and utilize materials that expedite project completion. This presents an opportunity for the company, which has already begun to see signs of order placements in Q2 2020,” Mr. Chakrit stated.

Currently, the company has ongoing projects such as the Samakorn Suvarnabhumi project, Golden NEo Bangna-Kingkaew project, Britania Mega Town, Britania Hathairat project, and projects from Real Asset Development and Property Perfect in On Nut, among others. The company is also awaiting the signing of contracts for government building projects, office buildings, and community malls, which will diversify its project opportunities and is in the process of submitting proposals for several other projects.

Nevertheless, the company continues to actively bid for new projects in both the public and private sectors. Currently, the company has 15 clients with a backlog valued at 380 million baht, which will be gradually recognized as revenue over the next two years. The production capacity for precast concrete walls is approximately 60%, and the company aims for a growth rate of 5-10% this year, targeting total revenues of around 326 - 340 million baht.