Sivaram Real Estate Public Company Limited (“SVR”) is set to launch its first bond sale of 2023, with a maximum value of 600 million baht, from June 26-28. The bonds will be offered through five leading securities firms: Globlex Securities, Dao Securities, Pie Securities, Beyond Securities, and Phillip Securities. The bonds will feature interest rates of 7-7.35% (interest paid every three months) as the company accelerates its business operations, aiming for excellence in developing premium economy housing projects that truly meet real demand. This initiative is part of the organization’s continuous drive towards achieving record-high operational performance (All-time High), reinforcing its potential for sustainable high growth in the future.

Mr. Ronarit Thitisuriyarak, Executive Director and Senior Chief Financial Officer of Sivaram Real Estate Public Company Limited (“SVR”) announced that the Securities and Exchange Commission (SEC) has approved the filing for the offering of “unsecured bonds of Sivaram Real Estate Public Company Limited, Series 1/2023, which are non-subordinated and have a bondholder representative. The issuer has the right to redeem the bonds before the maturity date, with a total amount not exceeding 600 million baht, maturing in 2025. The bonds will be managed by Globlex Securities, Dao Securities (Thailand), Pie Securities, Beyond Securities, and Phillip Securities. The SVR bonds will be available for subscription between June 26-28, with a minimum purchase of 100,000 baht and increments of 100,000 baht for institutional and high net worth investors.

“The bonds of Sivaram Real Estate Public Company Limited, Series 1/2023, are non-subordinated and unsecured, with a bondholder representative and the issuer having the right to redeem the bonds before maturity, with a total amount not exceeding 600 million baht. They are divided into two series: Series 1, not exceeding 300 million baht, with a term of 1 year and 9 months, maturing on March 29, 2025, with a fixed interest rate of 7% per annum; and Series 2, not exceeding 300 million baht, with a term of 2 years and 6 months, maturing on December 29, 2025, with a fixed interest rate of 7.35% per annum, with interest paid every three months. The minimum purchase is 100,000 baht and increments of 100,000 baht for institutional and high net worth investors. The issuer can redeem both series of bonds before maturity starting from June 29, 2024.”

The purpose of this bond offering is to raise funds for purchasing land and developing real estate projects totaling 440 million baht and to repay loans amounting to 160 million baht. This aligns with the strategic plan for expanding new projects in proximity to the CBD areas surrounding Bangkok.

Mr. Ronarit, Executive Director and Senior Chief Financial Officer of SVR, expressed confidence that the company’s bonds will receive a positive response from investors who believe in the growth potential of “Sivaram Real Estate,” given the strength of its business as a real estate developer known for quick turnover projects, robust business structure, financial position, and operations under governance principles aimed at achieving stable and sustainable growth.

In 2023, the company plans to fully drive its business towards excellence in developing projects that meet the needs of premium economy housing for real demand. This will lead the organization towards achieving record-high operational performance continuously, reinforcing its potential for sustainable high growth in the future. In the second half of the year, the company plans to launch three projects with a total value of 1,619 million baht, including the Sivaram Village project (Ring Road-Chaiyaphruek) valued at 691 million baht, which is expected to generate revenue starting from Q3 2023. The other two projects, Sivaram Park (Ring Road-Pracha Uthit 76), a single house project valued at 528 million baht, and Sivaram Hide (Bangkae-Sathorn), a single house project valued at 401 million baht, will be launched in Q4 2023, with revenue expected to start coming in during Q4 2023 and continue for the next 1-2 years, resulting in significant stepwise growth in SVR’s operational performance starting from 2023.

“The past performance of SVR shows a continuous record of new highs. In 2021, the total revenue was 564 million baht with a net profit of 63 million baht; in 2022, total revenue was 725 million baht with a net profit of 58 million baht, while the gross profit was 227.47 million baht, with a gross profit margin from project development increasing to 33.96% (up from 30.39% in 2021). In the latest Q1 2023, total revenue was 215 million baht with a net profit of 24 million baht. This builds confidence and reinforces the view that SVR’s growth rate can certainly break the All-time High record and achieve high growth in the future.”