Fitch Rating (Thailand) has affirmed Asian Property Development's national ratings at long-term "BBB+(tha)" and short-term "F2(tha)". The outlook is stable.
The ratings reflect the company's strong foothold in the condominium and townhouse market in Bangkok and nearby cities, Fitch said. Its established brand and development track record, particularly in mid-tier to upper mid-tier properties, have helped maintain both healthy presales averaging Bt15 billion per year and reasonable profit margins of 19 per cent to 24 per cent during the past five years.
26 October 2012