CPANEL has secured 5 new contracts as the Year of the Golden Dragon begins, with a total value exceeding 200 million baht, increasing the backlog to 1.49 billion baht. The company is currently negotiating with several clients in both horizontal and vertical projects, aiming to finalize deals in the first quarter of 2024. Economic uncertainties are driving demand for Precast Concrete.

Mr. Chakrit Tipakornsukasem, Managing Director of CPANEL Public Company Limited, a manufacturer and distributor of Fully Automated Precast Concrete products for real estate construction projects, revealed that the business outlook for late 2023 and early 2024 is positive. Real estate developers are accelerating project deliveries, resulting in increased demand for Precast Concrete products.

Recently, the company signed 5 new contracts worth over 200 million baht, comprising 3 horizontal projects and 2 vertical projects, leading to a backlog of 1.49 billion baht. Additionally, the company is in negotiations with several clients in both sectors, expecting clarity by the first quarter of 2024, which will support the company's continuous growth.

"The operations in the fourth quarter of 2023 mark the high season for real estate developers who are rushing to deliver projects by year-end. Various risk factors, such as economic volatility, interest rates, and rising labor costs, are pushing real estate developers to increasingly adopt Precast Concrete. In times of volatility, developers tend to maintain liquidity, especially in real estate, where managing costs efficiently is crucial. Therefore, they focus on rapid construction to allow more time for marketing and quicker revenue recognition, while also maintaining working capital for operations," Mr. Chakrit stated.