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Published on February 23, 2008

Revenue from sales and services went up by 3 per cent on 7-per-cent higher advertising revenue despite the economic slowdown and unstable political situation.

Operating cash flow last year improved by Bt150 million to Bt500 million, from Bt349 million in 2006.

The Nation

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Bt25m renovation

Pacific Star International (Thailand), one of Asia's leading real-estate investment companies, said recently that Bt25 million had been added to the budget for renovating the central facility area of the Sathorn Gardens condominium project, an increase of more than 50 per cent over the original planned figure.

"The past year was an excellent one for us, and we anticipate the same for 2008. Great feedback from the customers on Sathorn Gardens has contributed largely to this success," country manager Pritpal Singh Gill said.

"We started off with Bt500 million for the whole project renovation. But realising the stellar capability of Sathorn Gardens, injecting more funds for the renovation was just a natural decision. All renovations for the common facilities are scheduled to be completed in the next two months," asset manager Urasate Navanugraha said.

The Nation

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Noise issue rushed

Transport Minister Santi Prompat will instruct the new Airports of Thailand board to finalise the compensation issue for noise-affected residents around Suvarnabhumi Airport.

After meeting yesterday with representatives from the AOT, the Budget Bureau and the State Enterprise Policy Office, Santi said there was no law covering the purchase of houses from residents affected by airport noise. The AOT is now consulting the Council of State on the issue.

Moreover, the purchases would entail billions of baht, and it remains unclear whether the AOT would have to shoulder the cost. If so, its financial performance would be hugely affected.

At least 160 house-owners are entitled to compensation for selling their homes due to the noise problems.

Santi said new AOT directors would be appointed on March 13, or as soon as possible thereafter. 

The Nation

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Fund sold out

Property Perfect has succeeded in selling out its Bt520-million Property Perfect Fund, the company's senior executive director Teerachon Manomaiphibool said yesterday after the close of the subscription period.

He said both individual and institutional investors had shown strong interest in buying into the fund, as a result of which the company has had to reduce its own investment from 10 per cent.

Subscription to the fund took place via six securities firms: One Asset Management, Bualuang Securities, Kim Eng Securities (Thailand), KGI Securities (Thailand), Phatra Secutities and Thanachart Securities.

The fund is managed by One Asset Management.

Property Perfect guarantees a return on investment of at least 7.5 per cent a year within five years.

The fund will buy a total of 64 detached houses, 47 of them in Perfect Place at Ramkhamhaeng Road and 17 in Perfect Masterpiece Ekamai-Ramindra.

The Nation