Thailand Company News

Somboon Advance Technology Plc (SAT) will review this year's revenue forecast of 7.3 billion baht to take into account the Japanese disasters and Middle East riots.

Second-hand units will see more demand. Housing prices are forecast to rise by at least 5% this year, reflecting the higher costs of construction, wages and land, says the Housing Business Association.

The domestic sale of motor vehicles in Thailand surged by 44.2 per cent to 78,039 units in February, with Toyota retaining its predominant market share of 30,592 units, up 44.2 per cent, and Isuzu, ranked second largest with 14,713 units, up 22.2 per cent, an informed source in the automotive industry revealed on Wednesday.

The supply of new condominiums in Bangkok grew a massive 182 per cent last year compared to 2009, however fears of an oversupply appear to be subsiding as developers moderate the number of new developments they are offering to the market.

Raimon Land announces positive earnings for 2010. Sales growth and rationalization last year are platform for sustainable cashflow outlook and share rerating.

Pruksa Real Estate has introduced eight new detached homes projects in the first two months of 2011 and hopes to lead the country’s market in the segment in two years time. Pruksa currently controls 21 per cent of the THB70 billion (US$2.3 billion) per year detached house market.

Trinity Property Fund will start trading on The Stock Exchange of Thailand (SET) under the symbol of “TNPF” from March 8, making it the second property fund to be listed on the SET this year.

Thai listed developer Supalai recently revealed its plan to launch 16 new projects in Bangkok and expected to generate THB17 billion (US$ 557 million) in sales this year.

BANPU reported to the SET that Banpu Minerals (Singapore) (BMS), its wholly-owned subsidiary, has formed a strategic partnership with Hunnu Coal (Hunnu) by acquiring 30mn shares in Hunnu through a private placement at A$1.5 per share or a total of A$45mn (Bt1.4bn).

With strong demand for townhouses in the Wongwaen-Bang Khae area, Pruksa Real Estate has introduced a three-storey townhouse development, "Connect Up3 Wongwaen-Bang Khae", worth Bt699m. The project comprises 233 units on 22 rai at a starting price of Bt2.68m per unit.