After seeing strong interest at a recent investor roadshow in Singapore, Thailand developer Sansiri is aiming high with a similar sales event in New York City at the end of October.
The listed property developer, together with, UBS Securities (Thailand) Limited, organised the ‘ASEAN Conference 2014’ in Singapore in early September.
A spokesperson for the company said: “At the event we received the opportunity to meet directly with institutional investors in Singapore, and we were able to assure them of the clear signs of recovery and growth trends in the Thai economy.
“We advised them that, now that a government had been formed, the Thai government policies in running the country would be much clearer. And with the increased registered capital, our company will be in a much stronger position to accomplish our goals according to the ‘Engineer for Growth’ business strategy.
“During the event, the investors showed great interest and asked a lot of questions which we were happy to answer. Sansiri has always placed great importance on keeping our valued investors informed so that they remain confident in investing with our company.”
Sansiri now plans to work with KT Zmico Securities Co., Ltd., an investment broker in the United States, to organise a similar event in New York City.
In its recent independent market analysis report, KT Zmico Securities made a ‘Buy’ recommendation of SIRI shares and maintained a target price after ‘XR’ sign was put up at 2.22 Baht (PER 2015 at 8.0 times).
The report also estimated that SIRI’s profitability would significantly increase between the years 2014 to 2016, thanks to the company’s cost control measures which is expected to bear fruit within 12-16 months.
Moreover, the numbers of both reserved properties and ownership transfers are expected to increase during the second half of 2014. At the same time, demands for Sansiri condominium units upcountry are also anticipated to rise.
Andrew Batt, International Group Editor of PropertyGuru Group wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg