AP Thailand, known for its commitment to “Cheevit Dee Dee Tee Lueak Eng Dai,” receives positive news as TRIS Rating upgrades the real estate developer’s corporate credit rating to A with a Stable outlook.
Mr. Anuphong Assavabhokhin, Chief Executive Officer of AP Thailand PCL, expressed his satisfaction with the upgrade in AP Thailand’s corporate credit rating by TRIS Rating Co., Ltd.
“The rating has been raised from A- with a Positive outlook to A with a Stable outlook,” he commented. “This upgrade signifies the company’s expertise and leadership in the real estate industry, along with its well-defined business plan, consistent and stable growth, and, notably, effective financial management.
“We take great pride in TRIS Rating’s confidence in our business strategy. The improved credit rating reflects our competitiveness and strong growth in our low-rise product portfolio, which includes single detached homes, townhomes, and joint-venture condominiums available across all locations and price ranges. It also highlights our flexible management policies and stringent financial discipline, enabling us to remain resilient in the face of the ongoing pandemic crisis and economic uncertainty.”
TRIS Rating Co., Ltd. further stated that these upgrades are based on their expectation that AP Thailand will continue to deliver robust operational performance while maintaining its financial indicators at the desired levels.
In 2023, the company plans to launch a total of 58 new projects valued at Bht 77,000 million. The presales target is set at Bht 58,000 million, and the total projected revenue from joint ventures is expected to reach Bht 57,500 million. During the second quarter, AP Thailand will introduce 16 new projects with a total value of Bht 21,030 million. These projects will include 7 single detached home projects valued at Bht 9,380 million, 8 townhome projects worth Bht 8,150 million, and 1 condominium project worth Bht 3,500 million.
For the latest updates on AP’s new single detached homes, townhomes, and condominium projects in 2023, please visit https://apth.ly/APNewHome2023.
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