TRIS Rating Co., Ltd. announced that its credit rating unsecured bond set in the amount not exceeding Baht 2,000 million, of Quality House Co., Ltd. at “A-” while still credit unsecured corporate bonds, and the current set of Company at the “A-” like the Bond series of the new replacement bond unsecured in the amount outstanding to 1,000 million, the firm has announced the credit to on May 10, 2010 The ratings reflect the work long in the property development business.
As well as a strong presence in the residential housing market and the low price levels. And recurring revenue from a variety of sources including Marble rental apartments and Office building The ratings also consider taking into account the financial flexibility of holding money. Investment in associate with these strengths, however, was partially offset by political uncertainty. Nature of the property development business is up and down cycles. And its ratio of loans is quite high when compared with other operators.
Rating Outlook “Stable” or “Fixed” reflects the effect of the increase of demand from new housing increased TRIS company is expected to maintain its leadership in the residential housing market prices. continue to be high as well as to maintain the proportion of housing products to be balanced to support. Changes in customer demand. The company’s debt issues have to be careful that the plan to expand the project should not affect the effort to build. Strength to the company’s balance sheet.
TRIS Rating reported The Quality House is one of the leaders in the Thai real estate market, which is famous. Market acceptance of the low housing prices. Founded in 2526 by Land & Houses Public Company Limited (), the largest shareholder of the company at the end of 2010, comprised of Land and House with family Asavabhokhin (25%) and The Government of Singapore Investment Corporation Pte. Ltd. (11%) of the company’s competitive advantage comes from having a strong presence in the market. Housing prices. In addition, the exact source of income from rental property with the quality. The service includes Centrepoint Apartment and Office Building, Q. House.
It also has moderately priced housing Casa Ville and Casa City, which is known more. Company had a revenue recognition from the housing and apartment about 93% of total revenue during the first 9 months of the year 2010, while rental income from the project offices and serviced apartments out with about 7% price Average sales per residential unit in all of its projects in 2010 stood at 7-8 million baht steady decline ever since over 10 million in 2549, which shows the strategies that focus on customer revenue. more moderate at the end of September 2010 the Company had the land and construction projects in hand worth about 20,524 million Baht.
When compared to competitors. TRIS Rating said The Quality House is the type of assets that differ by 1 / 4 of total assets as rental property and investments in associates. In addition to real estate for rent by creating recurring revenue and cash of course but also enhance liquidity to the company because the company can sell real estate. Property were granted to real estate funds also investments in associated companies, 3 of which 2 of the securities traded on the Stock Exchange of Thailand and also one of the plans listed on the Stock Exchange, the company had income from cash dividends of approximately 300 – 400 million per year, which is funding the other hand. It also added liquidity to the company in the long term.