July 27, 2017: Bangkok Land Public Company Limited or BLAND, led by Mr. Anant Kanjanapas, Chairman and Chief Executive Officer, today holds its annual shareholder meeting to announce achievement of financial targets and dividend payment of 0.08 baht per share, an increase of 14.3% from the previous fiscal year. The recommended dividend will be proposed for shareholders’ approval in today’s 45th Shareholder Meeting. Despite ongoing global economic weakness that consequently leads to the slowdown in various sectors of the Thai economy, BLAND still significantly meet the immense success as expected through its high expertise management.
Mr. Anant Kanjanapas, Chairman and Chief Executive Officer of Bangkok Land Public Company Limited (BLAND), said: “Through our last year’s prudential management, the unit trust of IMPACT Growth Real Estate Investment Trust or IMPACT Growth REIT was held by our subsidiary, IMPACT Exhibition Management Co., Ltd., for 741,250,000 units, with the cost of 10.60 baht per unit, a total value of 7,857 million baht. As of March 31, 2017, the unit price closed at 15.00 baht per unit, representing an increase of 41.5%. Additionally, BLAND has entered into additional land sales with unrelated parties, totaling 14,040 million baht. The lands were already transferred totaled 4,607 million baht, with the remaining to be transferred with a value of 9,433 million baht.
For the fiscal year ended March 31, 2017, the Group reported a consolidated recurring operating profit of 478 million baht and a net profit after non-recurring items and tax of 1,850 million baht.”
The Group’s financial position is as follows.
- Net profit to owners of the company decreased 46.3% to 1,850 million baht (2016 – 3,443 million baht)
- Earnings per share decreased 44.9% to 0.097 baht (2016 – 0.176 baht)
- Consolidated total assets rose 4.4% to 65,773 million baht (2016 – 62,983 million baht)
- Shareholders’ equity rose 2.1% to 48,394 million baht (2016 – 47,400 million baht)
- Adjusted net asset value rose 4.1% to 50,979 million baht (2016 – 48,979 million baht)
- Adjusted net asset value per share rose 9.2% to 2.74 baht per share (2016 – 2.51 baht per share)
Regarding last year’s outstanding operations, BLAND has launched ‘Villa Albero – Rama 9’, a new townhome project at its Srinakarin land bank, with a total project value of 284 million baht. Currently, the project is sold out and fully completed. It has started to be transferred to the customers.
The Portal, a 4-storey state-of-the-art lifestyle shopping complex, located next to the IMPACT Arena and IMPACT Challenger, is also completed. It houses leading restaurants, premium food court, lifestyle shops and new convention facilities which complement the IMPACT facilities.
ibis Bangkok IMPACT, a trendy 3-star hotel with 587 rooms, is also completed. Its close vicinity to IMPACT Exhibition and Convention Center has proven to be successful with exhibition and convention clients.
Meanwhile, IMPACT Speed Park, a brand new world class go kart facility, was opened at the lakeside in Muang Thong Thani with a dedicated international team bringing this fun-filled go kart experience to every member of the family.
For the investment plan, BLAND is developing Cosmo Office Park, a grade A office building in the center of Muang Thong Thani with leasable area of 58,530 sq.m., which will be opened in the second quarter of this year, along with Cosmo Bazaar, a modern air-conditioned shopping center with over 500 shops and eateries and 2,200 parking spaces. The first phase of Cosmo Bazaar was already open in early July 2017. It is expected to be fully opened in the second quarter of this year as well.
