SA declared the great performance of the 1st quarter of 2021. The backlog amounted to 7,000 million baht. It was confident that the annual revenue would reach 4.8 billion baht. The new mixed-use project will be launched in May.
Siamese Asset Public Company Limited or SA, the integrated property developer, declared the performance of the 1st quarter of 2021. The year-over-year growth was higher. The backlog of 7,000 million baht began to be subsequently earned. The revenue of 2021 reached the target of 4,800 million baht. The sale of Landmark by Siamese Asset projects in 2 locations will begin on 15 and 22 May. SA expects the initial sale volume at 200 units which will be added to the backlog in the future.
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” said that SA expects the higher year-over-year performance in the 1st quarter of 2021, due to the large amount of earned backlog following the unit ownership transfer of the property projects, together with the growing revenues from other businesses, such as food & beverage business such as Kafeology Café, Rosemary Thai restaurant, etc. It has launched the Cloud Kitchen service which offers the rental space for cooking and food delivery to the leading food and beverage brands in the high-potential zones in Bangkok. It received good response from the consumers owing to the convenient and quick service and tasty and hygienic standard of foods.
At present, the backlog of SA amounts to 7,000 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. This will be a factor pushing the revenue in 2021 to the expected target of 4,800 million baht. The Company plans to diversify the investment risks through the mixed and flexible business plan to increase the recurring income from the property for rent and serviced residence. At present, SA has the assets in the form of property for rent and serviced residence amounting to 8,400 million baht.
Chief Executive Officer of SA further added that the Company... [truncated]
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