Bangkok--Nov 23--Oasis Media
Harrison Group has announced that it is ready to join the Stock Exchange of Thailand in order to raise funds for expanding the scope of its services across the country.
Bangkok: Mr. Alan Lin, chief executive officer of the group, said the group has a plan to register with the Stock Exchange of Thailand in May next year after the group has been a property consultancy for 10 years.
Mr. Alan said the registration was aimed at collecting funds to broaden the business about the service networks of property nationwide while another sum of money would be spent as a revolving fund in the business.
At present the group has provided five main services. They include being a consultancy & broker on property, a project& sales marketing consultancy ,a property auction consultancy , a NPA, NPL property re-sales representative , and a developer. The group has got main income from commission on the sales and the marketing consultation.
For the property projects that the group is overseeing the sales and being a consultancy include detached houses, townhouses, twin houses, land and condominium around the outskirts of Bangkok and its surrounding provinces. All the projects are valued at 23 billion baht. ( figures at the third quarter of this year)
“ Our sales administration has growth continually following the condition of property business while most project owners want more professionals to help oversee marketing and sales.
“ In 2001 our projects were valued at 3 billion baht but at present the value of the projects increases to 23 billion baht, and next year we expect that the growth rate will likely increase more than 50 percent which at present we consider it is the largest project sales administration in Thailand.
“ Furthermore, becoming a registered company under the supervision of the Stock Exchange of Thailand will help us raise funds for extending our services especially in up-country provinces where our services are not available now ,’’ Mr Alan said.
Alan said that by the end of the third quarter of this year the group expects to possess the combined assets worth around 199.8 million baht and have debts of 54.35 million baht. The group also expects that the total income is likely at 116.42 million baht higher than that of 53.50 million baht of the whole of last year or about 114 percent increase.
For the net profit of the third quarter of this year, the group expects to have the net profit of 17.12 million baht which rises from the net profit of 6.38 million baht of the whole of last year or about 168 percent increase.
Mr. Kongkiat Opaswongkarn, chief executive officer of Asia Plus Public Co., Ltd. as a finance consultant, said that the property’s future has a tendency to grow steadily rather than the past. Especially operators, they have a more professional approach to work after the crisis of economy over the past years.
Mr Kongkiat said the changes made relevant businesses have a tendency to grow as well, and Harrison Group is regarded as one of the businesses having a tendency to grow well due to the rapid growth of its administration and the need of the projects owners to employ more professionals to help administer the projects, instead of them .
He said that for a plan for registering with the Stock Exchange of Thailand, the group expects to submit a form for selling shares to Office of the Securities and Exchange Commission within the first quarter of next year.
“ Following our target, we will bring all shares of the Harrison Group to register with the Stock Exchange of Thailand in May next year but it may up to the time that Office of the Securities and Exchange Commission takes into account.
“ By the way we’re unsure whether the group will be under the industry unit or not, as we have yet to consider the business again,’’ said Mr Kongkiat.
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