Mankong Kheha Kan Public Company Limited (MK) announced its financial results for the year 2018 (ending December 31, 2018) with total revenue of 4,546.81 million baht, an increase of 48.37% compared to 2017, and a net profit of 305.93 million baht, up 31.16%, translating to earnings per share of 0.31 baht. This year, the company plans to launch 4 projects with a total value of 4.56 billion baht, focusing on the Well-Being concept to enhance the quality of life for residents in a better environment. Additionally, the company is preparing to acquire land worth another 1.6 billion baht, reaffirming its commitment to continue expanding its rental and service real estate business. The goal is to achieve a profit ratio of 50/50 by 2021 for sustainable growth.

Mr. Suthep Wongworaseth, Chairman of Mankong Kheha Kan Public Company Limited (MK), a real estate developer for sale, rental, and services, shared insights on the real estate market for 2019, predicting slight growth compared to the previous year. This is due to a significant number of new products launched by developers last year, leading to a gradual absorption of existing inventory in the market. This situation is not indicative of a bubble but rather a normal demand and supply dynamic. Furthermore, the Bank of Thailand's loan-to-value (LTV) measures, effective April 1, will likely cause consumers to delay purchasing decisions. However, Mankong is expected to be less affected as most of its customers are first-time homebuyers seeking to live in their properties.

“The company's growth this year is still on a positive trajectory, supported by our ongoing development of rental and service projects that generate long-term revenue. This aligns with our plans, enabling us to continue growing. Additionally, consumer behavior surveys indicate an increasing interest in health and wellness, encompassing nutrition, exercise, and various technologies that support health across all aspects of life. The focus on Well-Being is about creating quality living conditions that harmonize life with nature, which is central to our product and service development aimed at delivering value to consumers,” he added.

In 2018, the company reported total revenue of 4,546.81 million baht, an increase of 1,482.31 million baht or 48.37%, with earnings per share at 0.31 baht. The breakdown shows revenue from real estate development at 4,152.93 million baht, up 1,387.60 million baht or 50.18%, while rental and service income reached 252.14 million baht, an increase of 56.24 million baht or 28.71%. Revenue from golf course services was 109.25 million baht, up 27.98 million baht or 34.4%.

For 2019, the company will continue to focus on developing real estate that meets the diverse needs of residents for sale, rental, and services, as outlined in its 5-year business plan. It plans to launch 4 new projects, including 1 single-family home project, 1 twin home project, and 2 townhome projects, with a total value of 4.56 billion baht, emphasizing the Well-Being lifestyle concept. The designs will prioritize the health and well-being of residents, considering factors such as energy-saving layouts, environmentally friendly materials, and innovative cooling systems, ensuring that all spaces foster happiness for everyone.

Regarding the rental and service business, Mr. Suthep further stated that in 2019, the company plans to expand its rental and service market with the development of the Bangkok Free Trade Zone for factories and warehouses for rent, managed by Prospective Development Company Limited, increasing to 173,500 square meters. The Park Court project on Sukhumvit 77, a luxury condominium and apartment complex, has already achieved nearly 50% sales and rental occupancy, aiming for 100% occupancy by the end of 2019. Meanwhile, the Flora Ville Golf and Country Club, which underwent a makeover last year, has received positive feedback from both Thai and international customers, with a projected revenue growth of 10% this year. Additionally, Yours Property Management Company, which provides property management services, aims to manage 10 more projects, targeting a 70% revenue increase from 2018.

“This year, we will continue to pursue a balanced revenue strategy between sales and consistent income from rental and services, seeking opportunities to develop projects with potential and favorable economic trends to expand our revenue-generating business as per our 5-year operational plan, aiming for a profit ratio of 50/50 by 2021 to enhance the company's stability,” Mr. Suthep concluded.

Thank you for the information from www.mk.co.th