Sammakorn to invest Bt2 bn a year till 2019
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PROPERTY FIRM Sammakorn plans to invest an average of Bt2 billion a year to boost its annual revenue to Bt4 billion by 2019.
Over the same period, the company plans to launch two or three residential projects a year, for an annual investment of between Bt2 billion and Bt3 billion, managing director Kitipol Pramoj Na Ayudhya told a news conference late on Tuesday.
Half of the investment budget will come from the company’s internal cash flow, and the rest from bank loans and bills of exchange.
The aim is to keep its debt-to-equity ratio from exceeding 1:1. At present, the ratio is 0.3:1.
This year, it plans to launch two projects worth a total of Bt2 billion – a detached-housing project at Chaeng Watthana and a townhouse complex on Ram Indra Road.
Sammakorn last year reported revenue of Bt1.15 billion and net profit of Bt99.9 million.
It hopes to boost 2015 revenue by 56 per cent to Bt1.8 billion – Bt1.05 billion from its low-rise projects, Bt500 million from condominiums completed and transferred to customers this year, and Bt250 million from rental income.
Kitipol said the company was confident that the economy would recover this year, and along with |it the demand to buy homes, es-pecially low-rise units such as detached houses and townhouses. Sammakorn is pinning its forecast for revenue growth of more than 50 per cent on that hope. The company estimates that demand for low-rise homes will grow by 8 per cent this year.
