Bangkok--15 Nov--Siam PR. Consultant
Lalin Property Public Company Limited, Thailand’s leading property operator completes its 3rd quarter performance with total revenue worth 413.4 million baht, posting 175.7 million baht and 79.6 million baht in initial profit and net profit respectively. The initial profit and net profit figures are worth 42.5% and 19.25% of the company’s total income realization. Compared with the same period a year ago, both revenue and net profit tumbled 42.51% and 56.11% respectively. The company’s performance for the first 9 months of 2006 with over 1,503 million baht worth of sales and 316.1 million baht in net profit or 0.38 baht worth of net earnings per share.
Chaiyan Chakarakul, Chief Executive Officer of Lalin Property Public Company Limited, disclosed that most industries were severely affected by negative internal and external factors during the first 9 months of 2006, resulting in declined performances. “However, the factors affecting the operations were considered sensitive as they include the political turmoil, which lasted from earlier in the year until September. Furthermore, the rising global oil prices have continued to deepen the impact on both business operators and consumers. Another factor bearing impact on the property developers and homebuyers is the FED rate, which rose 17 times during the period. The rising FED rate affected the financial costs as well as home loan approvals, resulting in declining confidence on the part of the consumers.
“However, these negative factors have improved to a certain level and it is believed that during the slow-down economy, property operators will have a chance to adjust to the situation and create greater stability for themselves. Indicators of the macro economic also started to display positive signs. The more reasonable crude oil price of US$60 per barrel, lower interest trend in the year to come and go ahead on further investments in 5 sky train routes around Bangkok and its vicinity will positively benefit the property industry. They should encourage afresh adjustment within the property industry and how to go about home buying including the changing of the people’s overall lifestyles,” he explained.
“The year 2007 is believed to be a good year for the property industry after the difficult tests. Lalin remains confident in the policy to attract homebuyers with medium-priced houses, whose price ranges from 2 to 5 million baht as they are the segment posting actual demands. With strong financial structure, effective cost management and excellent risk management, Lalin should be able to rise to success,” he added.
In 2006 Lalin was able to launch 3 new projects with combined value of 2.15 billion baht successfully as planned. The projects are situated in the eastern zone of Suwarnabhumi Airport, On-nuch and Bangna. They include:
1. The Balcony Town Home worth 450 million baht totaling 150 units
2. The Young Executive worth 650 baht totaling 167 units
3. The Executive worth 1.05 billion baht totaling 213 units
At present, Lalin operates a total of 17 projects in 5 zones (north, south, east, west and downtown) within Bangkok and its vicinity to allow homebuyers variety of choice to suit their preferences at reasonable prices.
For more information please contact:
Jidapa Pramualsub, Somruthai Polpala
Siam PR. Consultant Co., Ltd.
Tel. 0-2693-7835-8 ext 32,34, 08-1817-7153
Fax. 0-2693-6920 E-mail: [email protected]
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