Press Release August 16, 2017 the Platinum Group Expected 2017 Revenue Highest Growth at 2,000 Million Baht • the Platinum
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Press Release August 16, 2017 The Platinum Group expected 2017 revenue highest growth at 2,000 Million Baht • The Platinum Group show new high revealed its profit for the first half of 2017 in the amount of 371 Million Baht, expecting overall of 2017 income will be touch 2,000 million baht. • The new project, The Market Bangkok, has received positive feedback beyond expectations. • High-value tourists from ASEAN countries flock to The Platinum Fashion Mall called “The Best Wholesale Fashion Hub of ASEAN” The overall traffic rate of Thai-foreign customers has increased by 15 % The Platinum Group Public Company Limited or PLAT, the leading commercial real estate developer, revealed its financial performance for the first half of 2017 show new high with a profit of 371 million baht and forecasting the revenue to reach 2,000 million baht through a solid management of both current and new projects, in combination with an enhanced efficiency of incremental income from the shopping center to yield higher return. It is expected to enjoy an exciting in revenue by 2019, upon the opening of The Market Bangkok in Q4/18. Mr. Chanchai Phansopha, President of The Platinum Group Plc., reported The Company’s operating performance for the first half of 2017. The Company’s revenue was 997 million baht or 9 % growth and had net profit amount 371 million baht, increasing by 8 % compared with the same period of last year. Most of the revenue from rental and services was 15%. The revenue from food and beverage was 14 % and the revenue from hotel business was 6%. The company’s gross profit margin for core business averaged 62 % as amount 575 million baht or 15%. Not Only the rental and services income grow from increasing rental rate of The Platinum Fashion Mall and the operation managed common area of the shopping mall increased the other income for the company but also, the company had launched a new rent space project name Talad Neon-Down Town Night Market, in December 2016. Regarding the surge in revenue from food and beverages, it is primarily due to an increase in the number of both Thai and foreigner visitors. In the first half of 2017, the number of visitors to the shopping mall has increased by 15 % compared with the same period of last year. In addition, the company had renovated the food court by offering a more variety of foods to support more customer needs. Furthermore, the revenue from hotel business has increased due to a higher average daily rate as compared to the same period of last year, as a result of the increase in the number of Meetings, Incentives, Conference, and Events or MICE customers. This particular group of customers has high purchasing power, in which the company had provided a room upgrade for customers that consequently leads to increased revenue per room. Moreover, the company had organized various buffet promotions to correspond to the needs of customers, which results in a higher revenue from food and beverages. Likewise, the company has recognized its revenue from Talad Neon-Down Town Night Market in Soi Phetchaburi 23-29 nearly for the full year this year. As of present, Neon Market has become gained its popularity amongst Thai and foreign visitors young generation customer. It indeed has become a rendezvous for food tasters or those who enjoy late night shopping. Recently, on July 15, 2017, a tour group from Indonesia of over 300 people travelled to Neon Market by a total of 5 buses and 90 tuk tuk, which hugely added vibrancy and excitement to the market. Other than a variety of retail stores available at Neon Market, many entertaining events and activities are also organized in each month. For instance, “Concert with the Rain” was recently held at the market during 21-25 June, featuring 20 groups of indie artists. Similarly, “Neon Market Thai Show” was organized on 19-23 July, under the concept of Thai conservation. In addition, “Neon Market Thai Show” will be held on 23-27 August, under the concept of applied Thai tradition, along with an array of activities to be organized until the end of the year. Regarding Novotel Bangkok Platinum Pratunam Hotel, the company has planned to organize various events for tourists at the end of the year, including New Year party by the pool on 9th floor with Christmas Eve and New Year buffet at The Square Restaurant, along with live music featuring renowned DJ and band at Bar9 Beer Garden on the rooftop bar, 9th floor of the hotel. In addition, The Square Restaurant will also offer buffet promotions every two month to delight tourists and Thai customers. Considering the construction of The Market Bangkok, the retail shopping mall have Gross Floor Area 195,000 Square meter its interior and exterior are designed with a perfect combination of Thai and western styles. The project has an investment value of 5,800 million baht, covering an extensive area of 20 rai or 8 acres. It will be open in the end of next year 2018. For Ratchaprasong Walk or R Walk project (formerly known as Bangkok Skyline), it is a joint venture between The Platinum Group Plc. and Gaysorn Group, with an investment value of 400 million baht. The project extends over 500 meters in length and 6 meters in width. Phase 1 and 2 have been completely connected on March 29, 2017 and are now open for public. Currently, there are over 58,000 users per day. The walkway is linked with major attractions, including The Platinum Fashion Mall, Novotel Bangkok Platinum Pratunam Hotel, the new project or The Market Bangkok, Big C Ratchadamri, Gaysorn Village, Amarin Plaza, and all the way to Chidlom station and Siam square stations. Presently, the circulation rate of users who visit The Platinum Fashion Mall is 15%. Meanwhile, The Platinum Fashion Mall –“The Best Wholesale Fashion Hub of ASEAN” continues to implement its marketing strategy to increase the number of customer, as well as the volume of sales for the retail stores on a continual basis. In terms of the current tourism situation, since the beginning of 2017, The Platinum Fashion Mall has continued to be a popular shopping destination for premium tourists, particularly for Indonesian tourists that have rapidly increased in number. Moreover, there is an upsurge of tourists from Vietnam, India, and Burma and from 2015 onwards, the number of tourists has increased respectively. In the aspect of sales and promotion and the incentive sales margin increase for stores in The Platinum Fashion Mall, a variety of events have been organized, including training, business matching, and promotional campaigns for customers. Such activities serve as a means to stimulate purchase and enhance new experience for shoppers. Indeed, The Platinum Fashion Mall is regarded as the only fashion retail center in Thailand with all-year-round activities to fulfill the needs of customers. Accordingly, it had been chosen by the Tourism Authority of Thailand as one of the top ten most popular shopping malls amongst Chinese tourists for three consecutive years. In addition, the company continues to emphasize on the development of good governance and CSR policy. Recently, on 25th June, the Platinum Group Plc. was certified as a member of Collective Action Coalition Against Corruption (CAC). Moreover, on this upcoming 25th August, the company will receive its fifth consecutive national award for outstanding corporate in labor relations and welfare. In the aspect of corporate social responsibility or CSR activities, The Platinum Group has located donation boxes at the information centers of The Platinum Fashion Mall, Novotel Bangkok Platinum Pratunam Hotel, Talad Neon-Down Town Night Market in Soi Phetchaburi 23- 29, and The Wharf Samui as a hub for Thai people to help flood victims in the northeastern region. The collected donations will be bestowed to the related agencies thereafter. .