SC Asset Corporation Public Company Limited reports a 9-month performance with growth in all areas, achieving new highs in both sales and revenue in the low-rise segment, reinforcing its position as a leader in high-quality single-family homes. The third quarter of 2022 saw the highest growth in three quarters, with total revenue of 5.261 billion baht, an 11% increase (yoy), and a net profit of 652 million baht, a 20% increase (yoy).

Mr. Attapol Surasithipanthawat, Chief Support Officer of SC Asset Corporation Public Company Limited (SC), a leading Living Solutions Provider aiming to be the number one single-family home brand in consumers' minds, revealed the business success over the past 9 months:

“The company has total revenue of 14.329 billion baht, a 6% increase (yoy), with operational revenue of 14.275 billion baht, consisting of 95% from sales and 5% from rental and service income. The main revenue from sales is 13.593 billion baht, driven by a new high in the low-rise segment at 12.202 billion baht, a 15% increase (yoy), and revenue from high-rise projects at 1.391 billion baht, with a net profit of 1.621 billion baht, a 9% increase (yoy), and total sales reaching a new high of 17.182 billion baht, a 7% increase (yoy).”

This growth is primarily attributed to the third quarter of 2022, which recorded the highest performance in three quarters, with total revenue of 5.261 billion baht, an 11% increase (yoy), and a net profit of 652 million baht, a 20% increase (yoy).

As of September 30, 2022, the company and its subsidiaries had total assets and liabilities of 53.504 billion baht and 32.825 billion baht, respectively.

“Regarding the progress of launching 10 low-rise projects in the fourth quarter of 2022, valued at 16.2 billion baht, the recent initial booking of new series homes from two projects, valued at a total of 3.7 billion baht in the Vibhavadi-Paholyothin area from the Bangkok Boulevard and Venue ID projects, received very positive feedback, achieving a total pre-sales of 600 million baht.

According to the plan for the fourth quarter of 2022, a total of 11 new projects will be launched, valued at 20 billion baht, bringing the total number of projects for sale to 54, valued at 56.5 billion baht, consisting of 48 low-rise projects and 6 high-rise projects. There is also a backlog of sales awaiting transfer totaling 11.957 billion baht, with low-rise projects and condominiums accounting for 46% and 54%, respectively. Three main condominium projects are set to be completed and ready for transfer starting this November, including The Crest Park Residences, SCOPE Langsuan, and SCOPE Promsri. Therefore, we are confident that with the ongoing positive sales situation, the company will achieve its sales and revenue targets,” Mr. Attapol stated.

In addition to the growth of the residential real estate business, the company is expanding its investment in new water businesses, including logistics, to capitalize on the growth opportunities in e-commerce. There is a roadmap to develop a warehouse and parcel sorting center of 1 million square meters by 2030 under the subsidiary SCX ONE, in collaboration with Flash Group, a leader in comprehensive commerce, to develop a 300,000 square meter warehouse and distribution center nationwide, with the first one located in Nakhon Sawan, aiming to be operational by the end of 2023. In the hotel business, SCX has recently acquired 100% of shares from FJBKK, a Japanese company, to develop a new hotel on Sukhumvit Soi 29 with 300 rooms.

Mr. Attapol added, “Another achievement for the entire team is that the company has been selected as a sustainable stock for 8 consecutive years, with a total of 170 companies listed as sustainable stocks in the THSI (Thailand Sustainability Investment) from 221 companies listed on the Stock Exchange of Thailand (SET) for the year 2022. This reinforces the company's business operations under the strategy of Sustaining 'Sustainable, Creating Value for People and the Environment,' which aligns with the principles of sustainable development, considering social, environmental, and governance (ESG) issues in the working process, while also emphasizing stakeholder engagement alongside continuous long-term performance and growth.”