Assetwise Public Company Limited

Assetwise Public Company Limited, or ASW, disclosed that its board of directors, at its 4/2569 meeting on August 6, 2569, approved the sale of ordinary shares of Wise Estate 23 Company Limited, or WE23, a subsidiary in which ASW holds 99.97%, to Tokyo Tatemono (Thailand) Company Limited, or TTT, a company in the group of Tokyo Tatemono Co., Ltd., a company listed on the Tokyo Stock Exchange. ASW is selling a 49% stake of the registered capital in WE23, representing a total transaction value of 24.49 million baht, to be paid in cash. The sale price is higher than the net book value and higher than the par value. After the transaction, WE23 will cease to be a subsidiary of ASW but will remain a joint venture. ASW's objective is to open opportunities for joint investment with international partners, as well as to extend and support the development of the company's real estate projects. As for TTT, its major shareholders are Tokyo Tatemono Co., Ltd. with 99.9998% and Tokyo Tatemono Asia Pte. Ltd. with 0.0002%. ASW and TTT have no relationship that would qualify as related persons under the criteria of the SEC and the Stock Exchange of Thailand. The conditions precedent under the share purchase agreement were fully completed on September 25, 2569, allowing the WE23 share sale transaction to proceed under the agreed conditions.

AssetWise Public Company Limited, or ASW, is preparing to launch two new projects in Phuket province in November 2026, in the Kata and Kamala beach areas, after benefiting from the arrival of the high-season tourism period and the global success of Nene Royal, winner of America's Got Talent season 21, who is from Phuket and has helped raise awareness of Phuket as a tourism destination. Kromchet Vipanpong, Chief Executive Officer of ASW, told Than Hoon that at the end of the second quarter of 2026 the company had a backlog of sales awaiting revenue recognition worth more than 38.181 billion baht, of which projects in Phuket province accounted for more than 20 billion baht, with the remainder in projects in Bangkok and its vicinity, which will gradually recognize revenue through 2028. The company remains confident it will meet its target of combined revenue of 12.5 billion baht for ASW and its affiliate Rompho Property Public Company Limited, or TITLE, according to plan. This year ASW plans to deliver 11 completed projects with a total value of more than 26.76 billion baht, a record high in its history. As for third-quarter 2026 operating results, although the period falls in the low tourism season, the company adjusted its marketing and sales strategy and achieved sales higher than the same period last year, and it expects the fourth quarter of 2026 to be the period with the highest sales and ownership transfers of the year. In addition, in the second half of September 2026 the company will launch the KAVE Bloom Kaset condominium project near Kasetsart University in the Bangkok area.

AssetWise, or ASW, has launched the ONE RESIDENCE. THREE LEGACIES campaign for its master-piece single-detached home project, THE HONOR Yothinpattana, partnering with AAS Auto, the importer and distributor of Porsche vehicles, and OSIM to offer an exclusive package comprising the 100% electric sports SUV Porsche Macan EV and the smart wellness innovation OSIM uDream.AI to customers who purchase homes in the project priced between 50 and 100 million baht, from now until 31 October 2026 only. Mr. Kriangsak Hiamtho, Senior Managing Director of the Single-Detached Home and The Title Business Group at AssetWise Public Company Limited, said the campaign aims to deliver a Luxury Living Experience through three dimensions: Legacy of Prestige, Legacy of Performance, and Legacy of Wellness. Homes in the project range from 455 to 710 square meters, each with a private swimming pool and elevator, as well as two clubhouses. Ms. Tiwanat Rangsipramanakul, General Manager of AAS Auto Service Company Limited, said this collaboration reflects a shared vision of delivering an exceptional experience to customers. Meanwhile, Ms. Mutita Padiworadaphat, Marketing Director of OSIM (Thailand) Company Limited, said OSIM aims to convey the art of relaxation through innovation that addresses the Wellness at Home concept, a key element of the Luxury Living Experience.

AssetWise Public Company Limited, or ASW, led by Chief Executive Officer Kromchet Viphanphong together with the management team and partner companies, took part in a roof-topping ceremony and a readiness inspection for the KAVALON project, whose main structural work has now been completed on schedule. The project is preparing to open for on-site visits and to begin gradual transfers of ownership in late 2026. KAVALON is a low-rise condominium development of nine eight-storey buildings with a total of 2,192 units on more than 20 rai of land, with a project value of 4.5 billion baht. It has already achieved sales of more than 70%. The project sits right against the fence of Bangkok University's Rangsit campus, with the mouth of its alley only 100 metres from the university's entrance gate, along the Phahonyothin-Rangsit road and near the Uttaraphimuk elevated highway and the Don Mueang Tollway. It offers a large common area with five zones and 60 facilities in total across more than 7,800 square metres, plus Mingle Mall KAVALON, a community mall at the front of the project. Prices start at 1.79 million baht, and the average rental yield in this area is as high as 8% per year. In addition, AssetWise is running the Campus Condo Rangsit grand giveaway campaign, offering a move-in-ready package with three special offers: book for just 999 baht, live free for 24 months, two years of free common-area fees, and a low monthly instalment rate of just 2,800 baht per million baht borrowed. Buyers also get a chance to win an AION UT 420 electric vehicle plus prizes worth a total of more than 1 million baht, a furniture voucher worth up to 50,000 baht, and a CENPAY card worth 2,000 baht with every unit when they book and sign a contract from now until 30 September 2026.

Asset Wise Public Company Limited (ASW) is preparing to offer debentures to the general public for the first time, in two tranches: a 2-year 6-month tranche with a fixed interest rate of 5.25-5.35% per annum, and a 3-year 3-month tranche with a fixed interest rate of 5.70-5.90% per annum. Interest will be paid quarterly. The subscription period is expected to be from November 2-4, 2026, through 16 leading financial institutions. The debentures will be offered at a price of 1,000 baht per unit, with a minimum subscription of 100,000 baht. The debentures have been rated BBB- with a stable outlook by Tris Rating. The company plans to use the proceeds to repay existing debentures and expand investment in prime real estate projects. In the first six months of 2026, the company reported total revenue of 5,691 million baht, up 57% from the same period last year, and net profit of 792 million baht, up 98%. The company plans to deliver 11 new projects with a total value of over 26,760 million baht, which would be a record high, and had a backlog of over 38,181 million baht as of the end of Q2/2026.

Phillip Securities assesses the property sector, noting that in the first half, the market is adjusting. The value of new project launches is less than sales for both low-rise and high-rise segments among the top 11 companies, leading to lower inventory and a trend of easing supply in the second half. This should improve gross margins due to a better product mix, and price competition may soften next year. In 2Q69, total sales reached 52 billion baht, up 9.2% year-on-year, supported by high-rise sales which had a low base due to the earthquake, while low-rise sales weakened due to reduced demand and new supply. Higher energy costs have pushed construction costs up by about 10%, impacting total costs by around 2.5%, but developers are managing. For 3Q69, the top pick is AP, given two additional condominium projects ready for transfer and a strong low-rise backlog. ASW is a pick for dividends, with the highest expected dividend yield in the group at 10.4%.

AssetWise Public Company Limited (ASW) is preparing to transfer ownership of the "Modiz Voyage Srinakarin" project, a 37-story high-rise condominium with 813 units, valued at 2.6 billion baht, after construction is completed. The company will open the project for customers to view the "actual building, actual view" for the first time on September 5-6, 2026. The project's highlight is its design that caters to both living and business needs (Life & Business), featuring Business Units that support business registration in the same area as the residence, along with flexible usable space and Extra Wide rooms with a maximum width of 7.6 meters. It targets young people and entrepreneurs who want to combine home and workspace in one place. The project is located in the "Gateway of New East Bangkok" area, connecting Srinakarin-Lam Sali-Rama 9, about 300 meters from the MRT Yellow Line's Si Krita Station, and about 5 minutes from the Si Rat Expressway. Prices start at 2.39 million baht, with special promotions during the event, including an additional discount of 100,000 baht and free common area fees for 1 year.

ASW revealed that the outlook for the second half of 2026 is improving, supported by the gradual transfer of ownership of completed projects, especially in the third quarter of 2026 with the Modiz Voyager Srinakarin project, a high-rise development that took about three years to build. Meanwhile, projects in Phuket, including The Title Villa and The Title Shell, will also begin transferring ownership, following the continuous transfer of The Title Heritage project. For the fourth quarter of 2026, the company plans to gradually transfer the Kave Town project, a large-scale development near Bangkok University, with a project value of approximately 4.5 billion baht, as well as Kave Playground near Bodindecha School. The Title Moda project may begin transferring earlier than the original schedule in the first quarter of 2027 if construction is completed as planned. The company's backlog as of the end of the second quarter of 2026 stood at 38.181 billion baht, which will be gradually recognized as revenue through 2028. For 2026, the company targets total revenue of 12.5 billion baht, a 19% growth from the previous year. In terms of business expansion, ASW is increasing its consideration of the EEC area, while TITLE continues to focus primarily on Phuket in the near term, and is studying the potential of other areas including Samui, Hat Yai, Phang Nga, and Krabi.

Mr. Kromchet Vipanpong, Chief Executive Officer of AssetWise Public Company Limited, said Phuket is transforming from a seasonal tourist destination into a global hub and permanent residence for foreigners, especially buyers from Europe and Russia. With passenger numbers reaching 3 million, and foreign arrivals to the island for tourism and relocation reaching as high as 3.8 million, this reflects strong foreign purchasing power. Phuket's premium real estate market has a stronger financial structure than Bangkok because foreign buyers make down payments of 25% to 50% in advance and purchase with cash in accordance with the law, making the loan rejection rate almost zero. Completed projects have sales and transfer rates as high as 96%, as does the Serenity project, which has sales of 87% and transfers of 83%, while new projects such as Kimbara have sales of 24% and will rise according to the sales launch cycle. Other supporting factors include the growth of international schools with 6,000 to 7,500 students, Michelin Guide restaurants, five yacht marinas, and one deep-water port accommodating more than 1,500 yachts and cruise ships per year, as well as the Phase 2 expansion of Phuket Airport to accommodate 18 million passengers per year, with construction expected to begin in 2028 and services to open in 2031.

Assetwise Public Company Limited, or ASW, said the group's total revenue backlog has surpassed 30 billion baht after it acquired a 68.87% majority stake in Rompho Property Public Company Limited, or TITLE, a Phuket property specialist. Of that amount, TITLE's Phuket sales account for more than 20 billion baht. TITLE has set a 2026 revenue target of 6 billion baht, with more than 2 billion baht already achieved in the first half, and has about 4.5 billion baht worth of units ready for transfer in the third quarter, or roughly 400 units. The group has a total of 17 projects in Phuket with more than 2,500 units, covering Bang Tao, Kamala, Kata, Nai Yang and Rawai beaches, along with a land bank of more than 200 rai, representing about 40 billion baht in future project value. ASW has also had its corporate credit rating upgraded from BBB- to BBB.

Asset Wise Public Company Limited, or ASW, announced plans to accelerate new project launches beyond its original schedule after seeing signs of market recovery. The company expects fourth-quarter performance this year to be the strongest, and plans to launch two additional projects in the remainder of the year, on top of a total plan of six projects. Meanwhile, its sales backlog stands at 38 billion baht, of which 23 billion baht belongs to Title Property. The company expects to recognise revenue of about 6.6 billion baht from that portion this year. Most recently, it brought the WYNN brand back to the market with the launch of WYNN Bang Mot - Pracha Uthit, a low-rise condominium of eight storeys with 235 units and starting prices from 1.69 million baht, targeting younger generations, students, and first jobbers. The company said the project can generate rental yields of up to 6 percent per year.

Several mid- and small-cap companies reported second-quarter net profit growth exceeding 10%. ASW posted a profit of 562 million baht, up from 198 million baht a year earlier, on revenue of 3.53 billion baht, with a backlog of 38 billion baht. TACC earned 104 million baht, growing 32% from 79 million baht. 2S reported a profit of 227 million baht, up from 75 million baht, and announced an interim dividend of 0.12 baht per share. TKS posted a profit of 128 million baht, up 28%. Meanwhile, SMT edged lower to close at 5.30 baht on sell-on-fact pressure, and EA closed at 3.06 baht, up 6.25%, marking its first sharp gain in three weeks.

Assetwise Public Company Limited, or ASW, reported first-half 2026 operating results with total revenue of 5.69 billion baht, an increase of 57% from the same period last year, and net profit of 792 million baht, growing 98%. The performance was supported by condominium transfers in the campus condo segment during the new semester opening, such as the Kave Wonderland project worth 2.55 billion baht and the Title Serenity Yang project worth 4 billion baht in Phuket by subsidiary TITLE. For the second half of the year, ASW is preparing to deliver 11 newly completed projects with a combined value of 26.76 billion baht, the highest on record. As of the end of the second quarter, the company had a cumulative sales backlog of over 38.18 billion baht, to be gradually recognized through 2028.

Assetwise Public Company Limited, or ASW, reported net profit attributable to the parent company in the second quarter of 2026 at 562.92 million baht, an increase of 183.63% from the same period last year. Total revenue reached 3.496 billion baht, driven by property sales revenue of 3.375 billion baht, up 110.46%. Net profit margin rose to 15.95% from 10.85% a year earlier. For the first six months of 2026, net profit attributable to the parent company stood at 792.47 million baht, up 98.17%. Meanwhile, Rompho Property Public Company Limited, or TITLE, a subsidiary of ASW, posted a first-half net profit of 293 million baht, surging 1,358%, on total revenue of 2.004 billion baht, which grew 377%. This was supported by revenue recognition from THE TITLE Serenity Naiyang project worth 4 billion baht. Currently, TITLE has a backlog of over 22.981 billion baht, securing revenue through 2028, and targets revenue this year to reach 6 billion baht.

Assetwise Public Company Limited, or ASW, projects a second-quarter 2026 net profit of 539 million baht, up 171 percent from a year earlier and 135 percent from the previous quarter, marking a two-year high. The jump is mainly driven by the start of transfers at The TITLE Serenity Naiyang condominium project in Phuket, continued transfers at Kave Luminous Bangmod, and still-strong sales of the Kave-branded condos, pushing total quarterly transfers to 3.3 billion baht. Gross margin is expected to improve to 45 percent, thanks to a higher share of high-margin Phuket projects, while profit contributions from associates will rise as two new projects begin transfers. This puts first-half profit on track to reach 768 million baht, or 50 percent of the full-year forecast. Earnings are expected to keep growing in the second half, especially in the third quarter, with the start of transfers at three new condo projects carrying a combined backlog of 4.9 billion baht. Leading the pipeline is The TITLE Heritage Bang Tao, a 6-billion-baht premium condominium project in the Bang Tao area of Phuket, developed by Rompho Property Public Company Limited, or TITLE, an ASW subsidiary. The project sits on over 15 rai of land, comprises 789 units with starting prices of 5.5 million baht, and is scheduled for completion this August. Finansia Securities maintains its 2026 profit forecast at 1.5 billion baht, representing 43 percent growth, and keeps a buy rating with a target price of 9 baht. The broker highlights ASW's strength in a diversified project portfolio, particularly Phuket projects where demand remains robust, while the stock trades at a P/E of just 4.7 times and is expected to offer a dividend yield of around 8.5 percent in 2026.