SC : SC ASSET CORPORATION PUBLIC COMPANY LIMITED
9M/2024 (Jan - Sep 2024)
Business Overview

The Company operates fully integrated property development and

services related to property which consists of property for sales and

property for rental purposes such as office buildings, hotels and

warehouses.

Financial Statement
9M24 9M23 2023 2022
Income Statement (MB)
Revenues 14,688.47 15,820.92 24,682.80 21,684.86
Expenses 13,041.56 13,526.62 21,057.00 18,325.00
Net Profit (Loss) 1,219.55 1,631.02 2,482.27 2,556.01
Balance Sheet (MB)
Assets 67,824.02 62,764.83 63,887.71 57,401.31
Liabilities 44,334.96 40,291.51 40,635.68 35,691.99
Shareholders' Equity 23,457.37 22,484.40 23,227.64 21,732.51
Cash Flow (MB)
Operating -2,330.86 -1,817.23 -2,071.13 -5,431.29
Investing -357.52 -1,851.80 -2,168.44 -783.24
Financing 2,837.21 3,423.16 4,139.08 2,919.85
Financial Ratio
EPS (Baht) 0.29 0.38 0.58 0.61
GP Margin (%) 30.48 33.03 32.21 33.22
NP Margin (%) 8.35 10.35 10.23 11.82
D/E Ratio (x) 1.89 1.79 1.75 1.64
ROE (%) 9.01 11.88 11.04 12.22
ROA (%) 4.53 6.19 5.88 6.30
Business Plan

The Company aims to 2024 business targets , which are

1. 2024 presales target at Bt28,000 million

2. 2024 portfolio revenue target at Bt26,500 million

3. 17 new projects with total value of Bt 30,000 million

Sustainable Development Plan

The Company combines sustainability issues with its strategies and

goals. Company growth must cooperate with creating values for

the people and for the earth which will eventually contribute back

to the Company’s sustainable growth, comprising 4 main pillars,

which are customers, employees, environment, and corporate, all

leading to goals and implementations regarding the strategy called

“Thriving Together".

Business Highlight
  • In 9M24 , the Company opened 13 new projects with value of Bt 26,600 million.
  • In 3Q24, the Company launched Ultra Luxury project named "Connoisseur" , 20 units with total value of Bt 1,760 million.
Performance and Analysis
Business Performance Summary

In 9M24 The Company showed performance highlights from

consolidated statements of income as follow;

• Operating Revenues at Bt 14,454 million

• Gross Profit at Bt 4,405 million

• Net Profit to the owner at Bt 1,220 million.

• Earning Per Share at Bt 0.29

Key Milestones
  • In 1995, the Company started its office rental business and

invested in the construction of Shinawatra Tower 3 which is a

Smart Building.

  • In 2003, its name was changed to the SC Asset Corporation

Public Company Limited. After becoming a public company, the

Company has operated a fully-integrated property development

business.

  • In 2018, the Company established SC ALPHA Inc. to invest in

rental apartment in USA

  • In 2019, the Company established SC expedition Co., ltd to

operating recurring income businesses.

  • In 2022, the Company establised SCX H1 and SCX1 to operate

hotel and warehouse businesses

  • In 2023, the Company established XWBP1,XWBP2 and XWEEC1

to operate warehouse business

Risk Management Policy

The Company follows the COSO ERM 17 framework which are;

1. Set objectives

2. Set Risk Assessment Measures

3. Identify Risk

4. Assess the Severity of the Risk

5. RIsk Response

6. Monitor and Reporting on Risk Management

Recent Awards and Recognitions

1. The Best Exposure Home-GRAND BANGKOK BOULEVARD RAMA

9-KRUNGTHEPKRITHA from the Livinginsider Awards 2023.

2. The 18th BCI Asia TOP 10 Developer Awards 2023 from THE

GENTRY CULTIVA RAMA 9 for three stories single detached

houses.

3. The 18th Property Guru Thailand Property Awards from THE

95E1 for the “Ultra Luxury Residence” for the Baht 100 million

price level.

4. The Brand Star Awards for the real estate category (Single

Detached House) for the 2023 survey of “Thailand’s Most

Admired Brand” by the BrandAge.

5. SC Asset was assessed for security with SET ESG Rating at the

rating scale of AA.

6. SC Asset was certified with the ISO 14064-1 that is

internationally qualified for its greenhouse gas mitigation

mechanism.

7. The SC Tower was awarded the first runner up for the Green

Building category in the 2023 ASEAN Energy.

8. Excellence Reward in type of energy conservation for the Green

Building in 2023 Thailand Energy Awards by Ministry of Energy

Revenue Structure
Property Development for Sale 91.76% Rental and Rendering Services 5.42% Consulting and Service mgt 1.22% Others 1.6%
Stock Information
SET / PROPCON / PROP
Closing price SC SET index 5.00 3.00 1.00 1490.00 1398.33 1306.67 1215.00 2-10-23 4-1-24 29-3-24 3-7-24 30-9-24
as of 30/09/24 SC PROP SET
P/E (X) 6.37 14.67 18.03
P/BV (X) 0.56 1.11 1.37
Dividend yield (%) 7.78 4.10 3.16
30/09/24 28/12/23 30/12/22
Market Cap (MB) 13,173.82 14,014.95 17,819.44
Price (B/Share) 3.08 3.28 4.22
P/E (X) 6.37 5.46 8.09
P/BV (X) 0.56 0.62 0.86
CG Report:
Company Rating:
BBB+
Major Shareholders
as of 28/09/2024
Ms. Paetongtarn Shinawatra (28.43%)
Ms. Pintongta Shinawatra Kunakornwong (27.52%)
Mr.Bhanapot Damapong (4.70%)
Khunying Potjaman Damapong (2.74%)
Bualuang Long-Term Mutual Funds (2.71%)
Others (33.90%)
Company Information and Contact
http://www.scasset.com
ir@scasset.com
0-2949-2000
1010 VIPHAVADI RANGSIT ROAD, CHATUCHAK Bangkok 10900
Other Trading Info. : https://www.settrade.com/C04_01_stock_quote_p1.jsp?txtSymbol=SC
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Published on 12/12/2024