CENTEL POSTS 43.5% RISE IN PROFIT FOR QUARTER DESPITE CHALLENGES

The company posted total consolidated revenues of Bt4.9 billion for the fourth quarter, with an increase in EBITDA (earnings before interest, taxes, depreciation and amortisation) of 7.8 per cent year on year, totalling Bt1.10 billion, attributing this to effective cost management.
Centel chairman Suthikiati Chirathivat said the company’s overall operating performance for the quarter was better than expected, in spite of having to face many operational challenges. 
The Centara Grand Resort in Phuket was damaged by the recent floods and was forced to close down for three weeks during November. The new regulations relating to “zero baht” tours from China together with the increased visa fees in October and November resulted in a decrease in the total number of tourists from China. 
As well, there was the temporary ban on entertainment activities or any press and TV advertising and promotional campaigns for the initial 30-day mourning period for the late King. 
However, Centel achieved total consolidated revenues of Bt4.985 billion, more or less equal to the same period of 2015. Net profit was Bt416.0 million, a year-on-year increase of 43.5 per cent attributed to effective cost management and also to lower interest costs resulting from funds being acquired from alternative sources that carried a lower interest rate than the existing loans. 
–The Nation

GROUP LEASE SETS UP IN CYPRUS 

SET-listed digital financing firm Group Lease (GL) has decided to set up an investment and financial-services company in Cyprus to spearhead its expansion into Eastern Europe, Africa and Latin America. 
Cyprus has been chosen as the springboard for GL’s global expansion because of its strategic location. It is a member of the European Union, which is well known for its favourable taxation, legal and financial regimes, making it ideal for GL to use as a centre to raise funds and expand globally, the company says.
The strategic plan on global expansion came after GL achieved historical-high profits of Bt1.06282 billion in 2016, a whopping 82.34-per-cent increase from the year before. GL yesterday reported its 2016 audited financial statements to the Stock Exchange of Thailand, which were exactly the same as the unaudited numbers filed earlier. 
“Our record-high profits, low D/E [debt-to-equity] ratio of only one time and healthy balance sheets will help sustain our expansion globally,” GL chairman and chief executive officer Mitsuji Konoshita said. 
The planned expansion to Latin American is on top of earlier plans to expand to African and Eastern European countries.

CHEWATHAI READIES BT2 BN FOR LAND

Listed property firm Chewathai is setting aside an investment budget of Bt2 billion to purchase undeveloped land for residential projects. The developments will cover condominiums, houses and townhouses worth a total of Bt6.55 billion this year.
Managing director Boon Choon Kiat said that the company would increase the sales contribution of its houses and townhouses to 50 per cent of its total sales value, from 10 per cent last |year.
For 2016, the company reported total revenue of Bt1.2 billion and net profit of Bt63.08 million.

CMO LOOKS FOR REGIONAL PARTNERS

Creative-management advisory CMO targets total revenue of Bt1.3 billion this year, up 8.33 per cent from Bt1.2 billion last year, under plans to find strategic partners in Cambodia, Laos, Myanmar and Vietnam as part of its regional expansion.
Chief executive officer Sremkhun Kunawong said at press release yesterday that the |company's board had approved a dividend of Bt0.055 per share, after an interim dividend of Bt0.09 per share.