Message from CEO
Over the past year, overall economic condition of Thailand was constantly challenging for the real estate development business although there was enforcement of housing Ioan quality control measures (LTV), Iand tax collection measures, tax reduction measures for the first home purchase of the government, and relaxation to Bank of Thailand's supervision on housing loan along with low interest rates. Real estate enterprises therefore must adjust their investment plans in accordance with the situation at all times.
For All Inspire Development Public Company Limited (ALL), these challenges were opportunities that rapidly driven us in advance of the target set by developing residential projects to meet the real living needs. ALL had the opportunity to strengthen and be able to achieve the goals set out especially in the past year of 2019, which is divided into the following major issues:
In 2019, the overall business of ALL grew by leaps and bounds over the past year resulted from the success in all segment including low-rise and high-rise condominiums, townhomes, and the business expansion of shopping mall real estate. For the progress of The New Forum Plaza, Chon Buri province, the Company recently signed a contract with the contractor for construction and renovation of the shopping center. The Company is expected to start servicing during 3Q2020. Preliminary, over 80% of the rental spaces have been leased. Such income from this project will be booked as recurring income of the Company in the future.
Moreover, ALL has partnered with two major companies in Japan, which spot the outstanding potential and expertise in property development of the Company. Kyushu Railway Company (JR LINE), a company established over 1:30 years, has its core business in the transportation, construction and real estate in Japan. Hoosiers Holdings, a leading Japanese company, mainly engaged in real estate business. Both companies are confident in a joint venture with ALL under the name of AHJ Ekkamai Company Limited to develop a luxury residential projects towards the needs of customers, both residential and rental.
These business opportunities are not only a challenge of ALL in organization reform of real estate business so as to keep up with technological changes and consumer behavior but also leading the organization to a sustainable stability with regard to society and environment.
On behalf of All Inspire Development Public Company Limited, I would like to convey my appreciation to the shareholders, customers, financial institutions, members of the press and business partners for the trust and support as always. I would also like to thank the Board of Directors, executives and staff for the dedication in driving the Company towards residential development that truly meet the lifestyle, based on the slogan "Class of Living is your choice of life". I hope that all of you will walk on the path of success together forever.