Mr. Nuttaphong Kunakornwong, Chief Executive Officer of SC Asset Corporation PCL (SC) which is a leading real estate developer, said, “In the first half of this year, SC grew in terms of revenue and net profit, as summarized below.

1. SC gross revenue totaled 6,652 million baht, up 44 percent YoY, the majority of income of 6,223 million baht, accounting for 94 percent, was generated from projects for sales as follows:

1.1 Sales from low-rise projects worth 4,522 million baht, up 49 percent YoY, with highlights in three categories:

• Luxury home priced over 20 million baht increased 67 percent.
• Residential projects priced between 8-20 million baht skyrocketed 512 percent.
• Residential projects priced less than 5 million baht surged 132 percent.
  1.2 Income from condo sales totaled 1,701 million baht, up 49 percent YoY, a majority of 1,119 million baht came from the transfer of SALADAENG ONE project and the other 582 million baht from ready-to-move-in condos, namely, Chambers, Centric and The Crest projects.

2. Net profit jumped to 704 million baht, up 107 percent YoY due mainly to two reasons:
2.1 Income from low-rise and high-rise projects expanded, thanks to the transfer of SALADAENG ONE project beginning from the second quarter this year.

2.2 Cost management became more efficient. SC revenue grew 49 percent while marketing cost dropped 13 percent. SC has entered into a joint business partnership agreement (JBP) with Google and increased the use of online marketing by almost 100 percent. Consequently, low-rise project management cost dropped by 15 percent on average.

Gross revenue in the first half of 2018 totaled 7,235 million baht, 70 percent of which came from  low rise projects and 30 percent from high rise projects. As of June 30, 2018, SC and its subsidiaries reported total assets of 41,711 million baht and liabilities of 26,583 million baht.

In the second half of this year, SC will unveil 51 projects worth a combined 47 billion baht, 15 of which are new projects amounting to 15 billion baht and the other 36 projects are ongoing projects worth 32 billion baht. Backlog projects waiting for transfer amounted to 10.73 billion baht, 45 percent of which will realize income this year. Therefore, we are confident that SC will achieve the sales revenue and income this year of 17 billion baht as planned.”

SC’s plan to launch 15 new projects consisting of a condo project, namely, Chambers On Nut Station, valued at 1.7 billion baht and priced at 3-5 million baht per unit, and the other 14 low-rise projects for every price level totaling 13.3 billion baht, as follows:

Ten projects of single house projects, priced 3-60 million baht:

1. THE GENTRY Ekamai-Lad Phrao

2. Grand Bangkok Boulevard Ramintra-Serithai

3. Bangkok Boulevard Srinakarin-Bangna

4. Bangkok Boulevard Rama 9-2

5. Bangkok Boulevard Ramintra-Serithai

6. Venue Tiwanon-Rangsit

7. Venue Westgate

8. Venue Rama 9

9. Pave Pinklao-Salaya

10. Pave Motorway-Chachoengsao

Two townhome projects and one home office priced 2-10 million baht:

11. Verve Tiwanon-Rangsit

12. Verve Rama 9

13. WorkPlace Petchkasem 81-2

“V Compound”, the latest residential and townhome project priced 3-7 million baht, will be launched:

14. V Compound Ratchaphruek-Pinklao

Meanwhile, SC Re-invention 2020 strategy toward becoming a Living Solution Provider has progressed as planned:

1. Jointly develop Baan Rue Jai Application with FiveOneOne Co., Ltd. to create an intimate communication experience between SC and SC families. The application will be ready for download through iOS and Android systems in the fourth quarter this year. Two main features of the application are repair reporting function and One-on-One Conversation that SC families can contact SC and update the repair status from anywhere and anytime. More features are being developed and will be added every quarter through the human-centric thinking process.

2. Work with our diverse partners in the ecosystem to pilot a project to allocate a plot of six rais in front of the company’s 240-rai land in Bang Kradi, Pathum Thani, to create a common area for residents there and nearby communities.

3. Begin transforming a space covering more than 1,500 square meters on the 14th floor of Shinwatra Tower III into a co-working space, which will be operational in the second quarter of 2019, to promote co-creation working format with startups and SC business partners.

4. Work with Slingshot Group to modernize SC corporate culture in line with the new chapter of business expansion for everyone in the company and the new-generation staff to be recruited in the future.

Mr. Nuttaphong summed up, “the new context will change SC business landscape to ensure sustainable growth. SC will become a Living Solutions Provider to blend innovations with our residential projects in response to evolving lifestyle of residents now and the future. We are always ready to rethink our business plans and learn to catch up with the changing behaviors of our customers. Nonetheless, two things will remain unwavering; our excellent quality and sincerity”.

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