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Nusari plans to double revenue

Friday, 03 October 2008

source: Bangkok Post Sept 30 2008 The property developer Nusasiri Co aims for 3.58 billion baht in revenue this year, up 107.5% on last year, as it will be able to transfer units from its large-scale Nusasiri Grand Condo Sukhumvit-Ekamai. Chief executive Visanu Thepcharoen said the company would record 2.43 billion baht revenue from the delivery of units in its Nusasiri Grand Condo and 1.55 billion from single houses and the hotel business. The company operates the four-star Nusa Playa Hotel and Spa in Jomtien Beach near Pattaya. The hotel is building its conference room, expected to open this year, to serve rising demand from the Mice sector. Though Nusasiri had been inactive in marketing for the past two years, it plans to develop another three projects in the fourth quarter, including a single housing estate in Rama II with a loan of 1.346 billion baht from Krung Thai Bank. Nusasiri earlier had problems with internal liquidity, but Mr Visanu said the company was able to repay its debts so business would move forward with an appropriate investment plan and a suitable debt-to-equity ratio. "We have sorted things out with our business partners, especially the small contractors. We expect no more problems with contractors as Nusasiri will only choose large contractors to ensure no delay in unit deliveries," he said.

 

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