กรุงเทพฯ--9 มิ.ย.--124 Communications
Siam Future Development Plc (SF) Managing Director Somnuk Pojkasemsin said today that capital increase shares will be allocated to expand the company’s Pattaya and other projects during 2007-2008 as agreed by its board on June 8, 2006.
The planned expansion by Thailand’s leading open-air shopping center developer will add 50,000 square meters to company’s existing rental space and will generate additional 400 million baht revenue annually.
Altogether 84.82 million shares of this issue have been set aside as right offering with existing shareholders allowed to obtain 1 new share for every 5 shares they currently hold at 5 baht apiece or a total of 424.12 million baht, Mr Somnuk added.
SF has set August 7-11, 2006 as the period to book, buy and make payment for these capital increase shares.
The company will close the register for the transfer of shares to exercise the right to attend the shareholders meeting on June 23, 2006 with this meeting to take place on July 14, 2006. Registration of the right to buy this issue of capital increase shares ends on July 25, 2006.
“From SF’s point of view, this round of capital increase will boost the company’s ability to generate revenue and profits. This is because funds will be used to expand new projects, including The Avenue Pattaya which is a lifestyle shopping center on Pattaya II Road. This project consists of a boutique hotel, a movie hall, 24-lane bowling alley, a fitness centre, Villa supermarket and other well-known shops,” Mr Somnuk said.
“SF has shown that it makes full effort in developing its projects and for this reason results have been beyond expectation. Many shopping centers have been well-received, both downtown lifestyle centers such as Market Place Thonglor, J Avenue Thonglor and Power Center Ekamai with famous tenants such as Big C and Index Living Mall and shopping centers in the suburbs such as Petchkasem Power Center.
“An increasing number of people have expressed interest in renting our space, with the occupation rate now being 100%. All tenants are well recognized because SF only chooses those who are qualified for each shopping center,” Mr Somnuk said.
“This year, SF plans to open at least 3 more shopping centers. These include The Avenue Changwattana, La Villa Phaholyothin and Esplanade Rachadapisek and once operational take the total rental space at SF’s 27 shopping centers to 185,000 square meters. If we add The Avenue Pattaya, the total rises to 28 shopping centers with 207,000 square meters of space.”
Siam Future Development Plc is the largest developer of open-air shopping centers in Thailand and has shown continuous growth. When it listed on the Stock Market of Thailand in 2002 SF had 14 shopping centers with a total of 27,000 square meters of space with this jumping to 24 shopping centers and 96,800 square meters of space at the end of last year or an increase of 260%. SF expects to operate 27 shopping centers with altogether 185,000 square meters of space by the end of this year or an increase of 91% from the previous year. This rate rises by a further 12% to 207,000 square meters when SF’s 28th shopping center opens in Pattaya.
SF posted 204.73 million baht total revenue in the first quarter of 2006, an increase of 132.44 million baht or 183% year-on-year. Net profit in the same period totaled 69.76 million baht, a increase of 64.26 million baht or 1170% from previous year.
About Siam Future Development
Siam Future — founded in 1994 as a shopping center developer and manager specializing in open - air outlets - currently owns 8 neighborhood shopping centers - Bangbon, Pracha-utit, Sukhapibal 3, Sukhumvit 71, Sukhumvit 55 ,Yen-arkard, Changwattana and Pitarom; 4 convenience centers — Ramindra k.m. 2, Wanghin, Ladprao 120, Wong-Hin ; 8 stand-alone retail stores — Ratchada-Huaykwang, Ratchada-Rama III, Satorn, Pattanakarn, Ta Pra, Bang Kae, Meng Jai and Phaholyothin k.m. 27; 1 urban entertainment center which is Major Cineplex Chacheongsao; 2 Power Center — Pethkasem, Eakkamai; 4 Lifestyle Entertainment — J Avenue Thonglor 15, The Avenue Changwattana, La Villa Phahonyothin, Esplanade
For more information, please contact:
Elizabeth Wongwasin
124 Communications Public Company Limited
Tel: 0-2662-2266 # 216 Fax: 0-2662-2266