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Download Financial Statement Q3 2025
Statements of financial position
| Statements of financial position | 30 September 2025 | 31 December 2024 |
| As at 30 September 2025 | ||
| '(Unit: Thousand Baht) | ||
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | 4,043 | 3,255 |
| Trade and other current receivables - net | 182,766 | 160,878 |
| Inventories | 1,151 | - |
| Project development costs | 3,874,167 | 3,803,538 |
| Deposit for purchase of land | 82,383 | 69,383 |
| Other current financial assets | 880 | 970 |
| Other current assets | 5,126 | 11,818 |
| Total current assets | 4,150,516 | 4,049,842 |
| Non-current assets | ||
| Restricted bank deposits | 24,227 | 24,105 |
| Other non-current financial assets | 43,731 | 57,400 |
| Loans to related parties and interest receivable | - | - |
| Investments in subsidiaries | - | - |
| Investment in joint venture | 187,734 | 216,097 |
| Investment properties | 1,564,252 | 1,676,285 |
| Property plant and equipment | 2,855,222 | 247,341 |
| Right-of-use assets | 708,191 | 658,895 |
| Deposit for purchases of assets | - | 1,400,000 |
| Deferred tax assets | 67,680 | 102,796 |
| Income tax receivable | 16,735 | 19,954 |
| Other non-current assets | 41,749 | 46,970 |
| Total non-current assets | 5,509,521 | 4,449,843 |
| Total assets | 9,660,037 | 8,499,685 |
| Liabilities and shareholders' equity | ||
| Current liabilities | ||
| Short-term loans | 561,749 | 325,321 |
| Trade and other payables | 489,535 | 359,420 |
| Current portion of payable for purchase of assets - related party | 386,934 | - |
| Advance received from customers | 360,992 | 110,610 |
| Short-term loans from related parties and interest payable | 280,699 | 302,872 |
| Current portion of debentures | 130,122 | 2,093,729 |
| Current portion of long-term loans | 70,762 | 387,247 |
| Current portion of lease liabilities | 223,840 | 192,269 |
| Income tax payable | - | 2,841 |
| Other current liabilities | 31,993 | 9,644 |
| Total current liabilities | 2,536,626 | 3,783,953 |
| Non-current liabilities | ||
| Payable for purchase of assets - related party | 817,627 | - |
| Debentures | 2,811,571 | 925,281 |
| Long-term loans | 231,829 | 34,455 |
| Lease liabilities | 543,343 | 556,119 |
| Non-current provision for employee benefits | 16,044 | 13,614 |
| Other non-current liabilities | 65,225 | 79,676 |
| Total non-current liabilities | 4,485,639 | 1,609,145 |
| Total liabilities | 7,022,265 | 5,393,098 |
| 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 | 4,943,572 |
| Issued and fully paid up | ||
| 3,802,747,351 ordinary shares of Baht 1 each | 3,802,747 | 3,802,747 |
| Share premium | 1,030,789 | 1,030,789 |
| Difference from changing investment proportion in subsidiary | (5,958) | (5,958) |
| Deficit from business combination under common control | (141,039) | (141,039) |
| Retained earnings | ||
| Appropriated - statutory reserve | 50,656 | 50,656 |
| Deficit | (2,052,150) | (1,594,271) |
| Other components of shareholders' equity | (47,273) | (36,337) |
| Total shareholders' equity | 2,637,772 | 3,106,587 |
| Total liabilities and shareholders' equity | 9,660,037 | 8,499,685 |
Statements of comprehensive income
| Statements of comprehensive income | 2025 | 2024 |
| For The Nine-month Period Ended 30 September 2025 | ||
| (Unit: Baht) | ||
| Profit or loss: | ||
| Revenues | ||
| Revenue from sale | - | 1,821,971 |
| Revenue from rental and services | 186,269 | 180,708 |
| Revenue from hotel operations | 88,400 | - |
| Gain from sale on investment properties | 20,232 | - |
| Other income | 13,827 | 18,399 |
| Total revenues | 308,728 | 2,021,078 |
| Expenses | ||
| Cost of sales | - | (904,749) |
| Cost of rental and services | (99,311) | (112,432) |
| Cost of hotel operations | (72,692) | - |
| Distribution costs | (20,502) | (125,912) |
| Administrative expenses | (204,011) | (162,017) |
| Total expenses | (396,516) | (1,305,110) |
| Profit (loss) from operating activities | (87,788) | 715,968 |
| Share of profit from investment in joint venture | 12,438 | 20,358 |
| Finance costs | (344,679) | (295,430) |
| Profit (loss) before income tax | (420,029) | 440,896 |
| Tax expenses (income) | (37,850) | (85,434) |
| Profit (loss) for the period | (457,879) | 355,462 |
| Other comprehensive income: | ||
| The items not to be recognised to profit or loss in subsequent periods | ||
| Loss on investment in equity designated at fair value through other comprehensive income | (13,670) | (14,677) |
| Less: Income tax effect | 2,734 | 2,910 |
| Other comprehensive income for the period | (10,936) | (11,767) |
| Total comprehensive income for the period | (468,815) | 343,695 |
| Earnings (loss) per share | ||
| Basic earnings (loss) per share (Baht) | (0.120) | 0.093 |
| Weighted average number of ordinary shares (Thousand Shares) | 3,802,747 | 3,802,747 |
