Assetwise Public Company Limited

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, has launched a new condominium project under the WYNN brand in the Bang Mot–Pracha Uthit area, marking the first return of the WYNN brand since 2016. WYNN Bang Mot-Pracha Uthit is a low-rise condo with one 8-storey building on more than 2 rai of land, comprising 235 units with prices starting at 1.69 million baht. Three room types are available: a 1-bedroom unit of 23–24 square metres, a 1-bedroom exclusive unit of 26.5–28 square metres, and a 1-bedroom plus unit of 35 square metres. The project is located near the southern Purple Line at Pracha Uthit intersection station and an expressway just 5 minutes away, and is close to King Mongkut's University of Technology Thonburi. The company expects this location to offer investment potential from rental demand by students and workers, with average rental yields of up to 6% per year. The project offers full facilities such as a fitness centre, swimming pool, jacuzzi, co-working space, and EV charging stations. Show units will be open for viewing for the first time on 5-6 September.

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.