Asian Property may revise Q4 project launch plan

By Somluck Srimalee
The Nation
Published on October 10, 2008

Asian Property Development is considering revising its plan to launch six residential projects worth nearly Bt6 billion this quarter, should the domestic political situation remain uncertain.

"We are currently maintain¬ing our business plan to launch six new residential projects in the last quarter of this year, but we will not launch any this week or next, because we want to wait and see whether the country's political problems can be resolved. If it's all going to take a long time, we may revise our plan for the rest of the year," senior vice president Visanu Suchatlumpong said yester¬day.

However, if the company does change its plans, it will not affect its financial projec¬tion for the year, he said.

Asian Property estimates 2008 presales at between Bt15 billion and Bt16 billion and revenue of Bt9 billion.

The company posted rev¬enue of Bt3.9 billion for a net profit of Bt647.5 million for the first half.

"We have strong confidence in building our sales to meet the target, because we had high presales over the first nine months. We also have presales worth Bt12 billion that will be booked to revenue in the last quarter of this year through to 2010," Visanu said.

He said the political turmoil had negatively affected its business, with the number of visitors to its alreadylaunched residential projects having dropped by 1020 per cent a day since last week.

However, the company is pumping up its marketing activity by launching its "One Fine Day by AP" campaign.

Under the "feel good" cam¬paign, which runs from Monday until the end of the year, the company will serve snacks and soft drinks at 15 Land Offices in Bangkok when customers register and have their homes transferred to them.

"The campaign has the objective of creating a relaxing feeling for customers during these times of daily bad news rather than actually boosting our sales,' he said.

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Asian Property may revise Q4 project launch plan

Asian Property Development is considering revising its plan to launch six residential projects worth nearly Bt6 billion this quarter, should the domestic political situation remain uncertain.

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