LPN Plc reportedly has the best balance sheet in the sector and when the economic climate is troubling, developers with solid balance sheets have a competitive advantage. A good balance sheet means they can still easily buy new and more importantly the prime land plots. In such an environment, banks prefer to lend to firms with clean balance sheets.
The launch dates for two big projects (Rangsit and Sukhumvit 24) have been postponed from September to October, but the revenue recognition outlook is unchanged for 2014 and 2015. LPN is virtually certain to achieve its 2013 presales target of Bt20bn.
LPN currently owns 6 plots of land. Each of these is planned to be launched as separate projects towards the end of this year.