Not only the company name and logo may be changed, but she said at her first press conference that sub-brands for each product category would also be revised.

SC Asset has undertaken six residential projects under its three main existing brands: "Bangkok Boulevard" for single-family homes, "Vista Park" for town houses and "Centric Scene" for condominiums.

"Now we are studying and preparing for surveys to determine what the brand of each project should be," she said, adding that the outcome would be seen sometime this year.

The listed SC Asset Plc is the property arm of the caretaker Prime Minister Thaksin Shinawatra's family, which holds a controlling stake of about 60 per cent.

The company has assets valued at about Bt8 billion.

Yingluck said that because

the property industry still had good prospects in the second half of this year, SC Asset had set aside Bt1 billion to acquire more land.

In addition, it will launch several new projects involving buildings for rent and residences for sale.

She said there was room for growth in the housing market this year, despite the effects of negative factors - including higher interest rates on mortgage loans and political uncertainty.

Despite the changes, she said the industry's financial mechanisms remain functional. More-over, many property developers have adjusted themselves, evidenced by the number of recently launched housing projects with lower-priced homes, aimed at selling in an environment of higher oil prices.

Yingluck said she would blend her experience at Advanced Info Service Plc with the experience of SC Asset's team to set the company's new direction.

"What we're focusing on in this blending of experience is 'technology convergence' and

customer relations management," she said, adding that the company would offer a greater information technology input to its clients.

A wider range of products seen for the future will include customised "I-home" concepts. The company will also seek new business alliances.

Yingluck said that in its single-family housing projects, the company would start targeting the high-end market, with house prices in excess of Bt10 million. Town house projects will be launched with a unit cost between Bt2 million and Bt6 million, while condominiums will sell either at more than Bt4 million or less than Bt2.5 million.

In the first quarter, SC Asset's revenues increased 8 per cent over the corresponding period last year, to Bt426 million. About 55 per cent of this came from rental fees and 43 per cent from home sales.

The company's net profit was Bt70 million, up by 16.4 per cent over the corresponding period in 2005.

However, the company's backlog of Bt1.1 billion, including presales of Bt850 million in the first five months of this year, are expected to be received gradually over this year and next year.

Yingluck said the company this year expected sales growth of 50 per cent over 2005,  to Bt1.8 billion.

Sasithorn Ongdee

The Nation