Public Company Limited (ASW),<\/span> a new generation real estate developer, revealed that they have collaborated with Bitkub Capital Group Holdings Co., Ltd. (Bitkub) to provide consumers with the option to own houses and condominiums across all projects in the group by exchanging cryptocurrency into Thai Baht for purchasing properties under Asset Wise. Customers can exchange cryptocurrency through Bitkub's Wallet, which has been fully prepared to enhance convenience for clients. This marks another step for real estate operators to integrate technology into their business and adapt quickly to modern financial innovations.<\/p>
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This collaboration arises from recognizing the opportunity to expand the customer base, particularly among the younger generation, as <\/span>Bitkub.com <\/span>is currently the largest digital currency exchange platform with a trading volume exceeding 1,200 million Baht per day, which is expected to continue growing rapidly. This aligns with <\/span>ASW <\/span>developing real estate projects that cater to the lifestyle of the new generation and leading the campus condo market under the KAVE brand, which resonates with student residents familiar with using cryptocurrency in their daily lives.<\/p>
Furthermore, ASW has established Digitonize Co., Ltd., a subsidiary to support education and investment in digital assets, aligning with technological advancements, focusing on blockchain technology, and is ready to appoint Future Compact Co., Ltd. as a specialized consultant for managing digital assets. All of this reinforces ASW's position as a new generation real estate developer in the market.<\/p>
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Currently, ASW has a backlog of over 7,500 million Baht, with expected revenue recognition of approximately 4,700 million Baht this year. In the first half of 2021, completed projects include “Kave Town Shift” valued at 2,000 million Baht, and in the second half, two projects will be completed: “Kave TU” valued at 1,800 million Baht and “Modiz Sukhumvit 50” valued at 2,100 million Baht, with revenue recognition expected from this year until 2022. The company is confident of achieving a 20% growth target this year.<\/p>
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For new projects in 2021, ASW has launched “Kave Salaya,” which has received a positive response, and is preparing to launch other projects continuously, both horizontal and vertical, with a total project value of 9,700 million Baht. In the second quarter of 2021, the company plans to launch a new project “Atmoz Bangna” valued at 2,200 million Baht. Additionally, in the second half of the year, new projects will include “Kave Ava” valued at 2,400 million Baht, “Modiz Rhyme Cloud” valued at 3,700 million Baht, “Modiz Sriracha” valued at 1,300 million Baht, and “Baan Puri Puri Ladprao 41 – Home Office” valued at 87 million Baht.<\/p>
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Regarding the company’s performance and that of its subsidiaries in Q1 2021 (ending March 31, 2021), total revenue was 1,173 million Baht, an increase of 582 million Baht or 98.5% compared to the same period last year, which had total revenue of 591 million Baht. The net profit was 320 million Baht, an increase of 250 million Baht or 361.8% compared to the same period last year, which had a net profit of 69 million Baht. The gross profit margin stood at 48.5%, and the net profit margin was at 25.7%.<\/p>
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