Prominent Assavabhokhin family sees massive profits

One of the most prominent families in the Thai business community, the Assavabhokhins are a leading land developer in the real estate sector whose business extends to various other sectors, including construction materials, home decoration, financial services, and hotel businesses.

The Nation has compiled the performance results of the Assavabhokhin family for the past 9 months, revealing a total profit of over 17.678 billion baht, with the market capitalization standing at 339.692 billion baht.

1. Home Product Center Public Company Limited or HMPRO

Profit: 4.764 billion baht

As of the end of the third quarter of 2022, HMPRO has 86 HomePro branches, 6 HomePro S and 16 Mega Home branches.

Additionally, there are 7 HomePro branches in Malaysia.

However, one HomePro branch at The Mall Bang Khae was closed during the period following the expiry of the lease agreement.

There are plans to open new branches in nearby areas in the coming year, as well as in Pattaya and Chachoengsao.

2. AP (Thailand) Public Company Limited, or AP

Profit: 4.719 billion baht

In the last quarter of 2022, the company was preparing to launch 23 new projects with a total value of approximately 35.740 billion baht.

These projects include 11 townhome projects, 9 detached house projects, 2 condominium projects and 1 out-of-province project. As a result, by the end of this year, the company will have a total of more than 169 projects for sale in both Bangkok and other provinces, with a total value of over 130.630 billion baht.

3. Land and House Public Company Limited, or LH

Profit: 3.989 billion baht

CGS-CIMB Securities (Thailand) is preparing to launch 9 new projects, 8 residential projects and 1 condominium project in the fourth quarter of 2023. LH launched the Wan Vayla Na Chaopraya condominium project in October, and this received a positive response with a sales take-up of 31.5%.

This contributed to presales in October increasing to 6.1 billion baht, led by 4.5 billion baht from the Wan Vayla Na Chaopraya project.

Additionally, in 2024, LH plans to introduce more residential projects and unveil high-end projects under the Nantawan and Mantana brands.

4. Quality House Public Company Limited, or QH

Profit: 1.895 billion baht

The latest project introduced by the company is “Vararom Suksawat 76” under the concept “Where Magic Becomes True”.

5. LH Financial Group Public Company Limited, or LHFG

Profit: 1.744 billion baht

In 2023, the company set out to grow its credit portfolio with a focus on higher-yield portfolios that effectively manage associated risks.

This strategy also included cross-selling bank products, increasing fee income, developing digital capabilities, streamlining processes for efficiency and speed, and enhancing data analytics.

This was complemented by elevating the digital platform to meet the comprehensive needs of financial transactions and investments, such as the investment application LH Bank Profita and the mobile banking application LHB You.

6. Quality Construction Products Public Company Limited, or Q-CON
Profit: 542.60 million baht

Liberty Securities Limited says that Q-CON is a rapidly growing company and is in the orbit of major Thai companies, such as the SCG Group which holds 61% of the shares and LH which holds the second-largest share of 21%.

These major shareholders have long supported the use of lightweight concrete products from the company.

For mid-term investors seeking undervalued stocks with a rising profit and high dividend yield, Q-CON is regarded as an interesting option and is seen as a dark horse with a relatively low price.

Q-CON is a manufacturer and distributor of lightweight concrete, selling both domestically and internationally.

Their products include various sizes of blocks and reinforced types.

7. Mandarin Hotel Public Company Limited, or MANRIN

Profit: 23.41 million baht

MANRIN operates hotels providing accommodation services, selling food and beverages, organising conferences and seminars, hosting events, and offering other services related to the hospitality business.

This year, the company adjusted its plans to align with the changing economic context, lifestyle, and evolving tourism preferences.

The hotels have introduced new service formats to provide convenience to customers and sustain business operations in the long term.

In addition, the Assavabhokhin family has other business activities in the securities industry through their Land and Houses Securities Public Company Limited, as well as in fund management through Land and Houses Fund Management Company Limited.