On Tuesday at 15:42 (Bangkok time), Ananda Development Public Company Limited (SET: ANAN)’s stock rose 5.41% to THB 0.39 per share, with a trading value of THB 226,230.
Mr. Prasert Taedullayasatit, Chief Executive Officer of ANAN’s Property Business, stated that after Thailand’s Council of State permitted the Ashton Asoke project to not be demolished and the Supreme Administrative Court revoked the original construction permit, the company is currently applying for new permit and expected to receiving it within 2025.
Furthermore, in the past 1 – 2 years, ANAN has maintained its liquidity and financial credit’s reputation by repaying debentures worth THB 20 billion and debt to the financial institute worth THB 5 billion, both capital and interest without delay.
ANAN also has opportunities amidst the current crisis. The company has backlogs worth THB 12 billion that will be delivered within this year, with three of them being the newly constructed condominium projects. They are Culture Chula, Culture Thonglor, and IDEO Ramkhamhaeng Lamsali Station project, all of which are located in prime locations.
IDEO Ramkhamhaeng Lamsali Station project is worth THB 1.7 billion. Its ownership transfer started at the end of late May and received a good response. Within 30 days, ANAN successfully transferred about 30 – 40% of the project’s ownership, reflecting high demand and the potential of the project’s location.
As for Culture Chula and Culture Thonglor projects, these two are located in prime locations. The backlog of these two projects is worth THB 7 – 8 billion.
In addition, ANAN also has inventory stock worth THB 18 billion to support the sales, helping the company to continue generating revenue amidst challenging market conditions for the next 1 – 2 years.
Mr. Prasert added that the real estate market is in “the perfect storm.” For the past six months, Thailand has been affected by internal and external conditions, along with natural disasters that affect the economy and industry. Despite the nation imposed stimulus and support measures, these conditions remain negative factors.
The entrepreneur must remain cautious when expanding the business and sustaining it. ANAN estimated that its performance in 2Q25 would slow down before a headlanding. Everyone must be very careful in this condition.
Currently, ANAN must find what is essential to operate its business and prioritize liquidity with caution when expanding the investment. Alternatively, the company can maintain patience until there is a sign of recovery before making investment to diversify the risk. Nonetheless, positive liquidity will help support the company during this difficult time.
Mr. Prasert stated that this crisis would remain for the next one or two years. Besides the positive liquidity that will help support the business, the one with high resilience will withstand the perfect storm and emerge as victorious and receive benefits from the market after the crisis.
The fact that the company has financial discipline to repay its debt, both to the debentureholders and the financial institutions, will provide ANAN with trust and support from the financial institutions, especially from commercial banks during difficult times.
