Message from CEO

Mr. Kromchet Vipanpong
Chief Executive Officer
Dear Shareholders and Stakeholders

Over the past few years, economic impacts from the COVID-19 pandemic, rising costs of living, elevated household expenses, and persistently high household debt have continuously hindered Thailand's domestic economic recovery. Throughout 2024, many customers continued to face significant financial challenges, including household indebtedness, informal debt burdens, diminished consumer confidence, stringent lending policies by financial institutions, and sustained high-interest rates—all factors negatively affecting their purchasing power. Although government initiatives aimed at stimulating the real estate market—such as reductions in transfer fees, mortgage registration fees, and special loan schemes for low-income individuals—provided some relief, these measures were insufficient to catalyze a nationwide housing market recovery. Nevertheless, positive factors emerged from foreign customer segments, particularly in select regions, driven by tourism-related economic stimulus. Consequently, foreign investment played a crucial role in supporting the overall housing market, particularly reflected in property transfer values.

Despite ongoing economic pressures, the company successfully maintained growth in sales, revenue, and net profit, driven by prudent business planning, disciplined financial management, strategic expansion into high-potential locations such as Phuket, and timely project delivery. These factors have collectively reinforced customer confidence and trust. Guided by our concept of "THE NEW FRONTIERS," AssetWise is committed to sustainable growth and stability across all dimensions, integrating three core strategies:

  1. Execute: Focusing on delivering high-quality homes and condominiums while maintaining the strength of our core business portfolio. In 2024, the company launched 13 new residential and condominium projects totaling THB 36,860 million, achieving sales of THB 19,330 million—exceeding targets and representing over 17% growth compared to 2023.
  2. Expand: Growing our projects across various dimensions, including locations, product types, and pricing segments, while continuing to leverage expertise in established locations and expanding into new, high-potential areas such as the EEC and Phuket to mitigate market volatility risks.
  3. Explore: Continuously identifying new business and investment opportunities to strengthen our real estate development business and secure recurring income streams for the company's future. Furthermore, we emphasize sustainable practices under our "GrowGreen" initiative, fostering an ecosystem that enhances the quality of life environmentally, socially, and residentially.

This strategic approach enabled the company to achieve total sales of THB 19,330 million in 2024, a 17% increase from 2023, surpassing our initial sales target of THB 17,800 million. Additionally, the company reported total revenue of THB 9,987 million, up 39% from the previous year, exceeding the initial revenue goal of THB 8,700 million. Net profit reached THB 1,457 million, marking a 33% increase year-on-year and achieving the highest revenue and net profit in company history (New High). Key contributors to this success include well-received projects like Kave Town Island, valued at THB 3,500 million, and THE TITLE HALO 1, valued at THB 1,537 million—the first project delivering revenue recognition following AssetWise's acquisition of a stake in Rhom Bho Property Public Company Limited (TITLE), a Phuket-based real estate development specialist.

For over 19 years, AssetWise has continuously pursued the vision of becoming Thailand’s leading real estate company. Since our inception, we have remained committed to delivering outstanding residential projects designed to bring happiness to our customers, while cultivating excellent relationships with our business partners under our guiding principle of "We Build Happiness."

Finally, on behalf of AssetWise Public Company Limited, I extend my sincere appreciation to our shareholders, investors, business partners, and all valued customers for their continued trust and steadfast support. Most importantly, I thank our management team and all employees for their unwavering dedication and contribution. The company remains fully committed to operating with utmost diligence and good corporate governance, sustainably delivering maximum benefits for all stakeholders.