Perfect to Repay 2.1 Billion Baht Bonds Due on February 11, Preparing Funds for Next Bond Repayment in Q2

“Recently, the company has prepared to repay its second bond issuance of 2025, which is due on February 11, 2025, amounting to 2.1 billion baht. The company is also preparing funds for the next bond repayment due in April and May 2025, totaling 3.13 billion baht, sourced from the sale of 2 plots of land, including a 3.5-rai plot in Ratchadapisek 17 and an 80-rai plot in Ramkhamhaeng, valued at approximately 1.8 billion baht. The company is also advancing its investment sales plan, which includes selling land along the Chao Phraya River from a joint venture and receiving back approximately 300 million baht in Shareholder Loan. Additionally, there is income from business operations, particularly from the U-Rich Condo project, which has received a positive response from the campaign supporting housing for Thais, with sales already reaching 200 million baht and expected ownership transfers in the first quarter of 400 million baht. The company has also secured funding from financial institutions and plans to issue additional new bonds. All of this is part of the preparation to allocate funds for both bond repayments and working capital for project development.”

The company is also ready to proceed with its business plan, with plans to launch 4 new projects valued at 4.9 billion baht, all of which are horizontal projects postponed from last year, including 3 single-family home projects and 1 townhouse project. Overall, the company still has sufficient inventory for sale, thus focusing on clearing existing stock rather than launching new projects. Currently, the company has a total of 51 ongoing projects, including joint ventures. This year, the focus will be on increasing sales from the luxury project segment in both Bangkok and Khao Yai, which continues to be the main revenue driver for the company. Last year, 40% of the company's total sales came from high-end housing products. At the same time, marketing efforts will focus on condominiums targeting foreign customers, with the company having completed condominiums ready for occupancy in locations near the BTS, including Sukhumvit, Wutthakat, and Pattanakarn. This year, the target for penetrating the foreign market is set at 1 billion baht.
