Asset Wise or ASW has unveiled its performance for the first six months of 2023, achieving a record New High with total revenue of 4.642 billion and net profit of 849 million, marking a growth of 54% and 93% respectively compared to the previous year. The company has accumulated sales of 10.73 billion in the first half, following the successful launch of two new projects in Phuket under the brand THE TITLE, which received excellent feedback. The company is also set to continue recognizing revenue from completed projects. ASW is pleased to announce that Tris Rating has upgraded its credit rating outlook to BBB-Positive due to strong growth in sales, revenue, and profit, showcasing a total backlog of 23.678 billion. In the second half, the company will proceed with its plan The New Frontiers, preparing to launch six new condominium and horizontal projects worth a total of 11.76 billion. Additionally, ASW is venturing into a new business in Health & Wellness to enhance its Recurring Income portfolio, confident in achieving its revenue target of 8.7 billion and maintaining resilience in all economic conditions.

Mr. Kramchat Wiphanpong, CEO of Asset Wise Public Company Limited (ASW), a leading real estate developer focused on lifestyle under the concept of "Happiness Designed for You" or "We Build Happiness," revealed that for the second quarter of 2023 (April - June 2023), the company achieved total revenue of 2.884 billion and net profit of 593 million, representing a quarter-on-quarter growth of 64% and 131% respectively.

This resulted in a record-breaking performance for the first half of 2023 (January - June 2023), with total revenue reaching 4.642 billion, a 54% increase compared to the same period last year (YoY), and a net profit of 849 million, growing 93% from the previous year, marking the highest revenue and profit for the first half since the company's inception (New High).

During the first six months, the company successfully transferred completed projects as planned and continuously recognized revenue from these projects. Highlights of recent transfers include the Kave Town Island project, a campus condominium near Bangkok University with 1,770 units valued at 3.5 billion, which has achieved 99% sales, and the The Title HALO 1 project, a leisure condominium near Phuket Airport with 329 units valued at 1.537 billion, which has over 93% sales. Both projects will continue to transfer ownership and significantly contribute to Q3 2023. Additionally, the company achieved pre-sales of 10.73 billion in the first half, a 35% increase compared to the first half of 2022, supported mainly by the launch of leisure condominium projects in Phuket developed by Rompho Property Public Company Limited or TITLE, a subsidiary of Asset Wise, with two projects valued at 10 billion: The Title Heritage Bang-Tao with 789 units and The Title Serenity Nai-Yang with 814 units, both receiving positive feedback and satisfactory sales.

Recently, Tris Rating upgraded Asset Wise's credit rating outlook from BBB- with a Stable outlook to BBB- with a Positive outlook due to the company's strong overall performance and consistent growth in sales, revenue, and net profit. As of the end of Q2 2023, the company has a total backlog of approximately 23.678 billion, which will be recognized until 2026.

Mr. Kramchat further stated that in the second half of 2023, Asset Wise will continue to implement its The New Frontiers plan, aiming for sustainable and stable growth in all dimensions by launching six new condominium and horizontal projects in Bangkok, EEC, and Phuket worth a total of 11.76 billion. In Q3 2023, the company will launch two horizontal projects: The Arbor Ramintra-Watcharapol valued at 1.5 billion, featuring creative modern single houses in a natural setting near the Chalong Ratch Expressway (Ramintra - Ajnarong), starting at 8.99 million, and CHANN The Riverside Boromratchachonnani valued at 1.8 billion, a riverside single house project priced between 15-30 million, which has received excellent customer feedback. The company is also preparing to launch its flagship project, Aquarous Jomtien Pattaya, a luxury condominium near Jomtien Beach valued at over 4.5 billion in the final quarter of the year.

At the same time, Asset Wise is seeking new business opportunities to create Recurring Income by expanding into the promising Health & Wellness sector, targeting health-conscious individuals. The company aims to open Rocket Fitness, a new fitness option in easily accessible locations, and Vitala, a physical therapy and rehabilitation clinic, with a total of four locations by the end of this year, to be located in community malls like Mingle and the company's projects to grow alongside retail and community mall businesses.

“This year, ASW sees significant growth signals in sales, revenue, and profit. We are confident that the The New Frontiers plan will help us remain strong in all economic conditions and achieve our revenue target of 8.7 billion,” said Mr. Kramchat.

Asset Wise Public Company Limited (ASW) is engaged in real estate development, focusing on high-rise and horizontal residential projects in prime locations under the concept of “Happiness Designed for You” or “We Build Happiness”. The company has developed over 68 condominium and housing projects under various brands designed to create happiness suitable for every lifestyle, including KAVE, ATMOZ, MODIZ, ESTA, THE ARBOR, THE HONOR, and brands under Rompho Property Public Company Limited or TITLE, a subsidiary of the company, with a total project value exceeding 98.105 billion. This includes 52 completed and ready-to-move-in projects and 16 projects currently for sale and under development. As of Q2 2023, the company has a backlog valued at over 23.678 billion.