- AP Thailand with a promise of Cheevit Dee Dee Tee Lueak Eng Dai welcomes good news from TRIS Rating following upgrades of corporate credit rating to A with Stable outlook
- Reflects business potential and competiveness as property industry leader with one of the most comprehensive product portfolios and solid financial profile
- Leading the industry with plans to spread projects across Thailand: Bangkok – Rayong – Chiang Rai – Ubon Ratchathani – Udon Thani – Chachoengsao – Ayutthaya – Nakhon Si Thammarat – Nakhon Pathom
- Q2 will see company launch 16 projects worth Bht 21,030 million: 7 single detached home projects worth Bht 9,380 million, 8 townhome projects worth Bht 8,150 million and 1 condominium project worth Bht 3,500 million
- For updates on all new detached home, townhome and condo projects from AP throughout 2023, click https://apth.ly/APNewHome2023
Mr. Anuphong Assavabhokhin, Chief Executive Officer, AP Thailand PCL., said, TRIS Rating Co., Ltd., has upgraded AP Thailand’s corporate credit rating to “A” with “Stable” outlook from “A-” with “Positive” outlook. The rating reflects the company’s expertise and leadership in the real estate industry as well as its business plan, strong and stable growth and, importantly, efficient financial management.
“It gives us a great sense of pride that TRIS Rating is confident in our business strategy. The upgraded credit rating reflects our competitiveness and solid growth in our low-rise product portfolio of single detached homes, townhomes and joint-venture condominiums available across all locations at all price levels as well as flexible management policy and strict financial discipline allowing us to stay resilient in the face of the pandemic crisis and economic uncertainty.”
According to TRIS Rating Co., Ltd., the upgrades reflect our expectation that AP will consistently deliver strong operating performance while maintaining its financial metrics at the target levels.
In 2023, the company plans to launch a total of 58 new projects worth Bht 77,000 million and has set a presales target at Bht 58,000 million and a total revenue target for 100% JV projected at Bht 57,500 million. In the second quarter, AP will launch a total of 16 new projects worth Bht 21,030 million, consisting of 7 single detached home projects worth Bht 9,380 million, 8 townhome projects worth 8,150 million and 1 condominium project worth Bht 3,500 million.