SC Asset aims for B20bn

SC Asset is highly confident of achieving 20 billion baht in revenue by 2019 after reporting revenue of 14.4 billion baht in 2016.

The company said its revenue rose 3% last year from 14 billion baht, with net profit rising by 3.85% to 1.96 billion, the highest in 14 years.

Of the total revenues, sales from highrise projects made up 13.7 billion baht, up 3.33% from a year before, with revenue from rentals and rendering of services fetching 755 million baht, down 7.08%. Revenue from consulting and management services contributed 1.09 million, unchanged from 2015.

Chief executive Nuttaphong Kunakornwong said the higher revenue and profit was largely because of the company’s strategy to create income and effectively manage expenditures.

SC could maintain its leadership in the detached housing market, priced from 20 million baht, and enjoy a 21% increase of income from detached houses priced between 5-10 million baht, he said. Ownership transfers exceeded expectations thanks to the government’s real estate stimulus measures in the first four months of last year, coupled with the company’s effective cost management and optimisation of digital marketing.

Mr Nuttaphong said of gross revenue last year, residential development totalled 13.7 billion baht, or 95% of operating income. The remaining 756 million came from office building leasing and service business.

SC and its subsidiaries’ assets and liabilities last year totalled 33.5 billion baht and 19.0 billion, respectively. It reported a debtto-equity ratio of 1.32 times.

He said SC has 49 projects for sale with a combined value of 54 billion baht, and 17 of them are new projects worth 27 billion. The other 32 are continuations worth 27 billion baht.

In the first quarter this year, the company will launch four projects worth a combined 11 billion baht, including two horizontal projects valued at 2.2 billion baht — Headquarters Ekamai-Ladprao and The Gentry Sukhumvit. Two condo projects worth a combined 8.8 billion baht are dubbed 28 Chidlom and Chambers Cher Ratchada-Ramintra.