Cementhai expects to triple 2002 sales revenue

Cementhai Property Co. Ltd. expects sales revenues to reach THB 650 million (US$ 1=THB 43.976) in 2002, compared with THB160 million in 2001, the company“s president Chalaluck Bunnag said on 7 Februa…

Cementhai Property Co. Ltd. expects sales revenues to reach THB 650 million (US$ 1=THB 43.976) in 2002, compared with THB160 million in 2001, the company“s president Chalaluck Bunnag said on 7 February. Cementhai Property is a unit of Siam Cement Pcl, Thailand“s largest industrial conglomerate. “The forecast that our sales revenue will triple this year is due to expected revenue from the sale of two industrial estates and unused land this year,” Chalaluck said. Chalaluck added that thanks to the property sector recovery in Thailand, Cementhai Property expects to swing back to profitability this year, after recording a net loss of THB149 million in 2001. Of the two industrial estates, both located upcountry, one will be sold to electronics firms, while the other will be purchased by automotive parts and food companies, Chalaluck said. The company also hopes to sell part of the 1,600 hectares of unused land it owns nationwide.