SET-listed luxury property developer Raimon Land Plc (RML) is confident it can fully repay 406 million baht worth of bonds next week, with the remaining 118 million baht set to be redeemed by Sept 20.
According to chief financial officer Sorrapong Mamuang, RML has successfully repaid debentures No 1/2023 Tranche 1 worth 126 million baht and No 1/2023 Tranche 3 worth 162 million baht, which matured on Monday.
"RML has emphasised that all bond interest payments and principal redemptions have been made on time for every series, reflecting the company's effective financial liquidity management," said Mr Sorrapong.
"We are fully prepared to repay debentures No 2/2023 Tranche 1, valued at 118 million baht, due on Sept 20, and we will meet this obligation as scheduled in full," he added.
RML says it greatly appreciates the trust and support of investors.
"The company has consistently adhered to its debt repayment schedule, with no delays in interest payments, both for bondholders and financial institutions. This reflects the company's stringent financial discipline and robust liquidity management."
Looking ahead to the fourth quarter, RML plans to maintain strong revenue generation, focusing on selling out the remaining four units of the Tait Sathorn 12 project.
A joint venture project with Tokyo Tatemono, Tait Sathorn 12 is a luxury condominium project in the heart of Sathorn valued at 4.4 billion baht. As of Aug 31, roughly 90% of all 231 units are ready for transfer.
"The company is set to recognise revenue from unit transfers, with all units expected to be handed over to customers by the end of the quarter," Mr Sorrapong said.
Additionally, RML continues to receive stable revenue from its One City Centre luxury office building, which currently has an occupancy rate of roughly 72%. The target is to achieve 80% occupancy by year-end.
RML is also poised to enhance revenue streams through private sales of ultra-luxury mansions at The 528 Estate and special units at The River.