"Kajonsit Singsansern" CEO of Siamese Asset Public Company Limited (SA) reveals 4 top strategies, "Asset Play", by expanding existing businesses into 6 businesses to increase value. The main strategies are: 1. To find source of investment from low-cost Green Finance - Green Bond; 2. To increase the ratio of horizontal project development to 50% of the revenue within 2024; 3. To focus on increasing recurring income; and 4. To develop new business creating a new S-Curve to drive strong growth. In 2022, the ultimate goal is to achieve revenue of 4,500-4,900 million baht and to launch 6 new projects, totaling 11,621 million baht, while the backlog of 4,324 million baht will be gradually recorded within 3 years (2022 - 2026).
Mr. Kajonsit Singsansern, Chief Executive Officer of Siamese Asset Public Company Limited or SA, the integrated property developer under the concept of 'Asset of Life: profits for living' revealed the Company's 2022 business plan to target the revenue of 4,500 - 4,900 million baht. The main revenue is from property business of which 4 projects worth 23,976.3 million baht are under development. In this year, there will be one complete project, Landmark @ MRTA Station.
There are 8 complete projects worth 18,938.9 million baht, of which 15,432 million baht is property for sales with the inventory value in stock for revenue recognition of 5,059.6 million baht.
The 6 new projects to be launched in 2022 are Landmark @ Kasetsart TSH Station, Monsane Exclusive Villa Ratchapruek-Pinklao, Siamese Kin Ramintra Phase 2, Siamese Home @ Phaholyothin - Rangsit, Siamese Talingchan, and Siamese Luxury Home @ Ratchapruek - 345 worth totaling 11,621.9 million baht.
The Company's backlog is worth 4,324.20 million baht in total and the revenue will be recognized within 2022-2026. In addition, in this year, the Company has expanded the horizontal project to 4 projects, worth totaling 7,500 million baht and the revenue will be recorded in 2022 - 2027.
He added that in this year SA had stipulated 4 strategies for sustainable property development business, consisting of 1. To find the source of investment following project development plan such as Green Finance or Green Bond, new forms of investment which could help reduce the Company's financial cost; 2. To adjust project development ratio by increasing the revenue of the horizontal project; 3. To focus on developing property projects in potential locations such as on Sukhumvit Road and to keep the property for further management, leading to the change of revenue recognition from sales to recurring income; and 4. To develop new business expanding to a new S-Curve business of strong growth in the future.
"The Company is determined to build strong growth through continuous project development planning in order to generate revenue recognition of new projects. In 2022, the Company aims to increase project development ratio of the horizontal project to 50% of the total revenue within 2024 and expects to generate the revenue by 3,000-4,000 million baht per year. Moreover, the Company is seeking for an opportunity to create new S-Curve businesses, namely, green energy business, service-related business, technology of habitation business, senior health service, spa and wellness business, and financial and investment business. With confidence, those are important supportive factors to help operating results of SA to grow with stability and sustainability", Mr. Kajonsit concluded.