SA Board approved the dividend payment by cash at 0.195 baht per share and payment by stock (reinvestment) following the business growth in 2020. The revenue reached the unprecedented growth at 3,600 million baht.
Siamese Asset Public Company Limited or SA, the integrated property developer, declared the performance of 2020. The revenue unprecedentedly amounted to 3,635.3 million baht, growing by 3.3%. The net profit amounted to 641.4 million baht, growing by 3.7%. The gross profit margin (GPM) reached 42.9%. In the 4th quarter of 2020, the performance strongly grew during the COVID-19 pandemic. The board approved the first dividend payment since the Company establishment. The dividend was paid by cash and stock (reinvestment). Reinvesting dividends were paid at the rate 15 original stocks: 1 dividend stock, equal to the dividend payment rate at 0.067 baht per share and cash payment rate at 0.195 baht per share. It prepares to be one of the integrated property developers at the national level. It expects the earned revenue to reach 5,000 million baht in 2021.
Mr. Kajonsit Singsansern, Chief Executive Officer of Siamese Asset Public Company Limited or SA, the integrated property developer under the concept “Asset of life: Profit for all livings” declared the overall performance of 2020 (ending in December 2020). The earned revenue amounted to 3,635.3 million baht, growing by 3.3% from the previous year which gained 3,520.5 million baht. Since the Company establishment, the revenue was unprecedentedly high due to the earned revenue from the unit ownership transfer in many projects at the end of the year, such as Wyndham Residence, Ramada Plaza Residence, and Wyndham Garden Residence projects. The growth was satisfactory despite the COVID-19 pandemic which widely affected the property industry in the country.
The Company received more revenues from the rental space and services following the launch of full services in Q-Box Hotel Bangkok Blossom on Ramintra Road in the 2nd quarter of 2019. In addition, more earned revenues were gained following the ownership transfer of some condominium units which were developed as serviced residence and commercial space for rent. Lately, the Company’s expanded its operation into the hotel business under the branded residence model with the cooperation between SA and the world-leading hotel brands to upgrade the living of unit owners so as to receive the services as world-leading hotels.
For the net profit in 2020, the Company gained 641.4 million baht, growing by 3.7% from the previous year which gained 618.3 million baht. The net profit margin was 17.6%. This resulted from the efficient managerial cost management, and good control of property project management and cost. This pushed up the net profit margin.
Due to the outstanding performance, the board approved the dividend payment for 2020 in the meeting on 23 February 2021. Reinvesting dividends were paid at the rate 15 original stocks: 1 dividend stock, equal to the dividend payment rate at 0.067 baht per share and cash payment rate at 0.195 baht per share. However, the rights for the dividends were uncertain until the approval from the Annual General Meeting of Shareholders. The list of shareholders having the rights for the dividends would be determined on 16 April 2021 and the dividends would be paid on 30 April.
Chief Executive Officer of SA further added that to be one of the integrated property developers at the national level, SA is ready for strong growth every year. In 2021, the earned revenue is expected to reach 5,000 million baht. At present, the backlog amounts to more than 7,300 million baht of which 2,000 million baht will be earned in this year. The rest amount will be earned in the next 3 years. At present (the data as of 31 January 2021), the Company has at least 11 commercial property projects under the development and sale. Most projects are located in high-potential zones, both CBD and New CBD, such as SIAMESE RAMA 9 (Mixed-Use), Wyndham Residence, Ramada Plaza Residence, Wyndham Garden Residence, and Ramada Residence projects.
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