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SUPALAI BUDGETS BT15 BN FOR PROJECTS AT HOME, ABROAD

Back 09 March 2013

Supalai has set aside a 2013 investment budget of Bt15 billion to develop residential projects both in Thailand and overseas.

Company president Pratheep Tangmatithum said Bt5 billion would be used to buy land on which to develop projects in 2014, while Bt2 billion would be spent to develop projects in Asean member countries, and Bt8 billion for the construction of projects that are to be delivered to customers this year.

The company plans to launch 25 projects worth Bt25 billion this year, of which 16 are for low-rise homes, both detached houses and townhouses, and the rest condominiums.

"Most of our investment budget comes from our cash flow. However, we will issue debentures worth between Bt1 billion and Bt2 billion this year," he said.

Supalai will also invest in countries such as Myanmar, Indonesia and the Philippines, as it foresees market growth upon the implementation of the Asean Economic Community in 2015.

"We see business potential to expand in the AEC once the rules for investment in the region are relaxed," he said.

The company targets presales of Bt26 billion this year, up 22 per cent from Bt21.3 billion in 2012. Revenue is targeted at Bt13.5 billion, up 16 per cent from the Bt11.6 billion last year.

Up to 28.5 per cent of revenue will come from the provinces, compared with 25 per cent last year, managing director Atip Bichanond said.

Currently, 74 per cent of Supalai's presales are for condominiums.

The company also has a backlog worth Bt31.25 billion of homes already sold for delivery to customers between now and 2015.

 

THE NATION
9 March 2013

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