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Download Financial Statement Yearly 2025
Statements of financial position
| Statements of financial position | 2025 | 2024 |
| As at 31 December 2025 | ||
| '(Unit: Thousand Baht) | ||
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | 34,338,983 | 3,255,576 |
| Trade and other current receivables - net | 196,209,432 | 160,878,100 |
| Inventories | 1,432,188 | - |
| Project development costs | 3,798,625,061 | 3,803,537,957 |
| Deposit for purchase of land | 85,382,750 | 69,382,750 |
| Other current financial assets | 780,000 | 970,000 |
| Other current assets | 5,239,753 | 11,817,607 |
| Total current assets | 4,122,008,167 | 4,049,841,990 |
| Non-current assets | ||
| Restricted bank deposits | 24,243,220 | 24,105,312 |
| Other non-current financial assets | 40,451,064 | 57,399,552 |
| Loans to related parties and interest receivable | - | - |
| Investments in subsidiaries | - | - |
| Investment in joint venture | 184,307,075 | 216,096,571 |
| Investment properties | 1,547,038,991 | 1,676,284,792 |
| Property plant and equipment | 2,873,654,307 | 247,340,725 |
| Right-of-use assets | 699,453,546 | 658,894,908 |
| Deposit for purchases of assets | - | 1,400,000,000 |
| Deferred tax assets | 175,885,813 | 102,796,415 |
| Income tax receivable | 18,158,595 | 19,954,463 |
| Other non-current assets | 45,884,624 | 46,970,186 |
| Total non-current assets | 5,609,077,235 | 4,449,842,924 |
| Total assets | 9,731,085,402 | 8,499,684,914 |
| Liabilities and shareholders' equity | ||
| Current liabilities | ||
| Short-term loans | 532,506,301 | 325,321,105 |
| Trade and other payables | 483,178,274 | 359,419,676 |
| Current portion of payable for purchase of assets - related party | 389,207,125 | - |
| Advance received from customers | 326,759,806 | 110,609,529 |
| Short-term loans from related parties and interest payable | 281,125,593 | 302,871,742 |
| Current portion of debentures | 172,641,437 | 2,093,728,829 |
| Current portion of long-term loans | 141,413,987 | 387,246,952 |
| Current portion of lease liabilities | 223,769,984 | 192,268,509 |
| Income tax payable | - | 2,841,851 |
| Other current liabilities | 34,254,253 | 9,644,499 |
| Total current liabilities | 2,584,856,760 | 3,783,952,692 |
| Non-current liabilities | ||
| Payable for purchase of assets - related party | 796,803,437 | - |
| Debentures | 2,772,380,083 | 925,280,733 |
| Long-term loans | 224,310,000 | 34,455,622 |
| Lease liabilities | 550,885,178 | 556,119,109 |
| Non-current provision for employee benefits | 14,102,510 | 13,613,773 |
| Other non-current liabilities | 81,417,063 | 79,675,744 |
| Total non-current liabilities | 4,439,898,271 | 1,609,144,981 |
| Total liabilities | 7,024,755,031 | 5,393,097,673 |
| Shareholders' equity | ||
| Share capital | ||
| Registered | ||
| 5,702,747,351 ordinary shares of Baht 1 each (2024: 4,943,571,556 ordinary shares of Baht 1 each) |
5,702,747,351 | 4,943,571,556 |
| Issued and fully paid up | ||
| 3,802,747,351 ordinary shares of Baht 1 each | 3,802,747,351 | 3,802,747,351 |
| Share premium | 1,030,789,309 | 1,030,789,309 |
| Difference from changing investment proportion in subsidiary | (5,957,912) | (5,957,912) |
| Deficit from business combination under common control | (141,038,894) | (141,038,894) |
| Retained earnings | ||
| Appropriated - statutory reserve | 50,655,721 | 50,655,721 |
| Deficit | (1,980,969,212) | (1,594,271,132) |
| Other components of shareholders' equity | (49,895,992) | (36,337,202) |
| Total shareholders' equity | 2,706,330,371 | 3,106,587,241 |
| Total liabilities and shareholders' equity | 9,731,085,402 | 8,499,684,914 |
Statements of comprehensive income
| Statements of comprehensive income | 2025 | 2024 |
| FOR THE YEAR ENDED 31 December 2025 | ||
| (Unit: Baht) | ||
| Profit or loss: | ||
| Revenues | ||
| Revenue from sale | 193,579,750 | 1,915,760,210 |
| Revenue from rental and services | 259,465,120 | 246,086,575 |
| Revenue from hotel operations | 157,176,104 | - |
| Gain from sale on investment properties | 20,232,626 | - |
| Dividend income | 4,764,913 | 12,613,824 |
| Other income | 17,079,745 | 12,358,544 |
| Total revenues | 652,298,258 | 2,186,819,153 |
| Expenses | ||
| Cost of sales | (78,669,362) | (945,467,355) |
| Cost of rental and services | (130,554,706) | (153,416,456) |
| Cost of hotel operations | (124,830,965) | - |
| Distribution costs | (44,067,332) | (135,694,767) |
| Administrative expenses | (276,615,031) | (316,632,305) |
| Total expenses | (654,737,396) | (1,551,210,883) |
| Profit (loss) from operating activities | (2,439,138) | 635,608,270 |
| Share of profit from investment in joint venture | 9,010,483 | 18,846,524 |
| Finance costs | (462,969,884) | (395,530,227) |
| Profit (loss) before income tax | (456,398,539) | 258,924,567 |
| Tax expenses (income) | 69,700,459 | (85,362,800) |
| Profit (loss) for the year | (386,698,080) | 173,561,767 |
| Other comprehensive income: | ||
| The items not to be recognised to profit or loss in subsequent periods | ||
| Income (loss) on investment in equity designated at fair value | ||
| through other comprehensive income | (16,948,488) | 1,382,045 |
| Less: Income tax effect | 3,389,698 | (4,214,470) |
| Other comprehensive loss for the year | (13,558,790) | (2,832,425) |
| Total comprehensive income (loss) for the year | (400,256,870) | 170,729,342 |
| Earnings (loss) per share | ||
| Basic earnings (loss) per share (Baht) | (0.10) | 0.05 |
| Weighted average number of ordinary shares (Thousand Shares) | 3,802,747,351 | 3,802,747,351 |
