HoonSmart.com >> “Siamese Asset” plans to pay dividend for the first time in 10 years, bringing IPO 825 million baht, reducing D / E, expanding new projects. Buying non-performing assets to support margin, while the backlog is over 9 billion baht, gradually realized from the fourth quarter of next year 2-3 billion baht, issuing 2-3 billion baht debentures and studying to convert assets into tokens. Hoping to attract foreign investors
Siamese Asset Company (SA) has traded on the Stock Exchange of Thailand (SET) on the first day of December 25, 2020, the price opened at 7.55 baht and the highest increase of 7.85 baht before closing at 5.90 baht, an increase of 0.40 baht or 7.27. % From the IPO price of 5.50 baht with a total trading value of 2,281 million baht
Mr. Khajonsit Anusarn, Chief Executive Officer of Siamese Asset (SA), revealed that the company aims to pay dividends to shareholders. After listing in the stock market This is the first dividend payment in 10 years with a dividend payment policy of not less than 40% of the net profit.Currently, the company has retained earnings of approximately 800 million baht at the end of the third quarter and expects the end of 2020 to increase approximately 1 billion. However, the payment of dividends is still subject to approval from the Extraordinary General Meeting of Shareholders during April 2021.
In the year 2021, the company invested in property development projects. The fund raised approximately 825 million baht. 1. Blossom Condo @ Fashion 3, which is planned to develop a Mixed-use Real Estate project worth 4,000 million baht. 2. Above 39 project has a plan to renovate into a hotel or apartment for rent with services under Hotel standard The project value is approximately 1,900 million baht and 3. Blossom Condo @ TSH Station project value is approximately 2,000 million baht.
The company plans to purchase more non-performing assets (NPAs) as finished assets. Currently, the Company has a total of 20 projects, 4 of which are NPAs.
“We aim to come back and grow like the past. But this year I have to admit to being affected by COVID. But we also have cost management, buy NPAs to manage and create good IRR for us, as well as get a good margin. We set a net profit margin target of 20% every year, ”said Kajornsit.
Currently, the company has backlog of more than 9,000 million baht, which will gradually be recognized from the fourth quarter and gradually realized in the year 20, approximately 2,000-3,000 million baht, the rest will be recognized over the next 2-3 years. (2022-2024) with estimated total assets 40,000-50,000 million baht, which will support growth over the next 3 years (2021-2023) without any new investment projects. As for the proceeds from the sale of IPO to repay loans from financial institutions To reduce financial costs The interest-bearing debt to equity (IBD / E) rate at the end of this year is expected to drop to 1.3-1.4 times from the end of the third quarter to 2.1x, with no more than 1.7 times.
In addition, the company plans to issue debentures in the amount of approximately 2,000-3,000 million baht to support various investment plans in the future. The company has prepared a credit rating for the first quarter of 2021.
Mr. Khachon Sit mentioned the case of converting assets into tokens. (Tokenization) or a digital contract in the form of token securities. That can be traded on the Blockchain to allow ordinary investors to buy and sell real estate anytime, anywhere. The company is studying to sell real estate in such a way. Conducive to foreign investors to buy In a state that still cannot open the country But still have to wait for clarity on the rules of the SET
Mr. Lek Sikornwitthit, Managing Director of Asia Plus Advisory Company Limited, as a financial advisor, revealed that SA is a company that operates business with potential. With the knowledge and capability from the construction business to develop Both cost and construction techniques And there are other services Related to real estate business, such as condominium juristic person management service, property development business for sale in the form of Branded Residence, food and beverage business, etc.
SA can be considered as a company. With different strengths over competitors And still able to make the operating results continue to grow Even when the epidemic situation affects the overall economy Hence, it received a good response from investors during the IPO subscription period as it is a real estate development company with a strong business background. And have opportunities for sustainable growth in the future
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