Thailand’s land and houses presales to jump by 19.5% in 2013

Check out which segment topped the sales last year.

According to Maybank Kim Eng, it expects 2013 presales to grow by 19.5% to THB30bn, potentially another new high after record presales in 4Q12 brought the 2012 presales to THB25.1b (+30.8% YoY), beating its estimates by 14%.

Here’s more:

SDH was c.67% of the presales while townhouses accounted for 8% and condos, 25%. In 2013, LH’s presales of THB30b will be of 85%:15% Metro-Bangkok: Provinces ratio drawn from a pool of 24 new projects (worth THB43.3bn) – 10 SDH, 4 TH, 10 Condo. Fifteen projects will be launched in Metro-Bangkok and nine in the provinces.

The Bangkok Sathorn (worth THB7b) and The Room Aree (worth THB1b) postponed from last year will be launched this year. Maintain FY12-13F earnings estimates. We maintain our FY12 revenue forecasts of THB24.2b,+25.5%YoY, and net profit estimates of THB5.5b, down 1.5%YoY.

The actual net profit could beat our estimate by 1-2%, potentially coming from higher affiliate contributions. We expect 4Q12 revenue at ~THB7b (+21.5%YoY, +3.2%QoQ) and net profit at THB1.4b (-13.6%YoY, -7.2%QoQ). As for FY13, LH already has THB4.4b potential sales to be recognized out of the THB7.6bn total backlog.

We maintain our FY13 revenue forecasts at THB26.8b,+10.9% YoY, and net profit of THB5.991b, +8.5% YoY. Property fund in 2H13, more US investment. LH is studying the possibility of setting up a property fund in 2H13 consisting of Terminal 21 (serviced apartments and a shopping mall), Grand Centre Point Wireless Road, and Grand Centre Point Rachadamri, totalling THB9.9b.

LH may reconsider bringing all three assets into one fund due to the difference in property types. In 2013, LH will spend THB1b on two projects in the US. HOLD for dividends; property fund upside in 2H13. Based on a forward PER of 17x, our target price is THB10.10. With a slower growth outlook compared with the sector and a high PER, we recommend investors HOLD the stock for its dividend yield of c.5% pa. For 2013, the DPS does not include the one-time of THB1/sh from the property fund.

You're the reader we write for. You're also the person our partners want to reach.

If that sentence describes you — a founder, a C-suite, someone whose attention companies pay good money for — then you already understand why SBR works. We've spent twenty years earning the trust of readers exactly like you. Which is exactly what makes this an interesting place for your company to show up, too.

The ways it can show up are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The right fit depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If your company has something this audience should know about, we'd like to hear what you're working on.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia

Top News

30 One-Sentence Stories From People Who Have Built Better Habits

None of these stories are mine. They were sent to me by readers of Atomic Habits. My hope is that these examples will illustrate how real people are putting the book into practice. They will show you what people are actually doing to build good habits and break bad ones. And hopefully, they will spark some ideas for how you can do the same.

news conversion

SBR 5 Lorem Ipsum News 2 [8 May]

Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

SBR 4 Lorem Ipsum [8 May Top Stories]