'Singha Estate' is Set to Issue 3-Year Debentures with Interest Rates between 5.00 - 5.10% per Year and Payable every 3 Months, Highlights the 'Investment Grade' Rating.
- Expected to be offered to the general investors in August through 4 leading financial institutions.
- Emphasize the strengths of the Singha Estate's business, aiming for 2023 target with all-time high revenue and profit.
Singha Estate Public Company Limited or 'S' submits a filing request for the public offering of debentures with maturity of 3 years with an interest rate of 5.00 - 5.10% per year, and are expected to be offered during August 2023. The company was assigned rating at "BBB+" with a "stable" rating outlook, whereas the debenture rating was assigned an "Investment Grade" of "BBB", as affirmed by TRIS Rating Co., Ltd. on June 9, 2023, reflecting the continuous growth of the hospitality business and well-accepted hotel brands both in the international and in Thailand market. The company emphasizes sustainable growth by adhering to the principles of corporate governance with an IOD rating of 5 stars or "excellent". And set to create all-time high revenue and profit for the year 2023.
Singha Estate Public Company Limited or 'S' has submitted the registration statement and draft prospectus to the Securities and Exchange Commission (SEC) in order to offer unsubordinated, and unsecured debentures with a debenture holders' representative in the name-registered certificate. The 3-years debentures with an interest rate between 5.00 - 5.10% per year and payable every 3 months are expected to be offered to the general investor between August 8 - 10, 2023. The Company has appointed 4 leading financial institutions as underwriters of the debentures, consisting of Bangkok Bank, Krung Thai Bank, Kasikorn Bank, and Kiatnakin Phatra Securities, which the final interest rate will be announced again in July.
On June 9, 2023, TRIS Rating affirms the company rating at "BBB+" with a "stable" rating outlook and at the same time, assigns an "Investment Grade" at rating of "BBB" to senior unsecured debentures. The issue rating reflects the performance of the Company's hospitality business, continuously recovering as well as a variety of projects expansion plans, as well as TRIS Rating's forecast that the Company's debt burdens will remain on the decline path over the next few years. The rating also reflects the exceptional quality of the Company's hotel portfolio, well-established residential brands and recurring income streams from company's commercial business.
Mrs. Thitima Rungkwansiriroj, Chief Executive Officer at Singha Estate Public Company Limited or 'S' reveals with great confidence that Singha Estate debentures will receive excellent feedbacks from investors with assurance in the brand "Singha Estate," both from the strength of the business as a leading real estate operator with an impregnable business structure, financial position, and operations under corporate governance that aims to create the sustainable growth. Particularly in 2023, where Singha Estate will continue to drive all business units forward with full force, implementing the "S EXCELS" strategy, aiming for excellency in all dimensions and to achieve prosperous performance and continued growth, driving the all-time high revenue and profits.
Singha Estate operates a comprehensive property development business. Hospitality Business under management of 'S Hotels and Resorts' (SHR), a subsidiary of Singha Estate, has delivered an outstanding performance in the previous year with current portfolio owning 38 hotel locations of total 4,552 room keys located in major tourist destinations spread across 3 regions and 5 countries. Residential Business with policy to develop diversified projects of both high-rise and low-rise, comprising of single-detached houses, condominiums, and home offices. Commercial Business, including office buildings for rent and shopping centers, holds high growth potential and high returns on investment and Industrial Estate and Infrastructure Business.
Singha Estate announces a net profit of THB 71 million from its Q1/2023, a remarkable result reversed from 126-million-baht loss recorded in the same period a year earlier. Significantly from the expansion of hospitality business given all countries as a global have already re-opened. The hospitality business generated THB 2,544 million from sales and services, marking an increase of 51% year-over-year with a steady recovery direction. Meanwhile, the residential business plans to launch 5 new horizontal residential projects with a total project value of more than THB 10 billion, as well as moving forward to respond to the resurgence of demand in the bustling condominium market, especially in the ready-to-move-in segment. As for the other two business units, commercial business and industrial estate and infrastructure business, are also set to significantly contribute to its growth with steady upwards trend this year. Singha Estate is thus now confident that it will achieve the revenue target of THB 16,700 million in 2023.
"Singha Estate strives to continue driving all business units forward under the Sustainable Diversity vision to achieve a sustainable growth with the commitment of generating good returns for shareholders, delivering superior products to our valuable customers, providing sustainable value to all stakeholders, and creating a well-balanced business operation while preserving the environmental integrity within the area. In 2023, Singha Estate was awarded as Thailand Sustainability Investment (THIS) by the Stock Exchange of Thailand, as well as receiving a 5-star rating or 'Excellent' for the corporate governance. And recently being named Thailand's Most Admired Company award for Corporate Social Responsibility. We are determined to that all of these could assure investors' confidence in investing in our debentures," Mrs. Thitima added.
The Singha Estate debentures are expected to be offered to investors between August 8 - 10, 2023 through 4 leading financial institutions across the country, namely:
- Bangkok Bank Tel. 1333
- Krung Thai Bank Tel. 02-111-1111
- Kasikorn Bank (By an individual who reserves online via https://www.kasikornbank.com/kmyinvest Except foreign nationals and juristic persons can subscribe through the head office and branches) Tel. 02-888-8888 press 819
- Kiatnakin Phatra Securities (including Kiatnakin Phatra Bank as a sales agency of Kiatnakin Phatra Securities) Tel. 02-165-5555 or Application DIME
The company is in the process of filing a registration statement and draft prospectus with the SEC Office, which are not effective yet. For general investors interested in subscribing the debentures, more details can be obtained from the draft prospectus at www.sec.or.th
Warning: Investing is risky. Investors should study and understand product characteristics, return conditions and risks before making an investment decision.