Emperor, Insee form JV in Laos
Emperor House Co is joining with Laos-based Insee Group, owned by Laotian businessman Manothum Petchsirisang, in establishing a home-building firm in that country with the target of generating revenue of Bt100 million this year.
"This is part of our strategy to expand into ASEAN Economic Community countries when we saw the potential of this country after we built two homes worth Bt200 million," managing director Suratchai Kunghakij told a press conference yesterday.
Emperor's total revenue target for this year is Bt440 million.
The joint venture in Laos, called Emperor House by Insee Group, will use building materials supplied by Insee, which also has a construction business in Laos.
Domestically, Emperor House aims for revenue growth of 12 per cent to Bt340 million this year from Bt303 million last year.
Revenue last year missed the budget by about 10 per cent because of a labour shortage.
This year, the company is trying to manage its skilled labour force to build homes to deliver to customers on time.
It has work in process worth Bt600 million and four homes in the design stage.