Thai Stocks: HEFFX Initiates Coverage of Apex Development Public Company Limited (BKK:APX)
HEFFX Rating Must Own
HEFFX Target 3 Baht in 2018
Apex Development Public Company Limited is a Thailand-based company engaged in the real estate development business. It is primarily involved in the development of condominium and hotel properties.
The Company develops residential properties and condominium in form of hotel accommodations in Pattaya, Phuket and Bangkok.
Apex Development Public Company Limited is listed on the Stock Exchange of Thailand (SET), with a registered capital of 2,999,850,000 Baht.
The majority of the developments include both Hotel and Residences in the same project. With a guiding principle of “Enhancing Value”, of the residences encompass the key ingredients of prime location, spectacular view, high quality development, special holiday privileges, and 5-star hotel chains rental management expertise to provide a good appreciation of property value and good return for customers.
Thailand Real Estate is one of our favourite sectors, and the Hotel industry in Thailand continues to outperform as Chinese tourists numbers add the robust Thai tourism industry.
Thailand is one of the worlds fasting growing economies, with a growth of 21% in the past 6 years.
Tourist Arrivals in Thailand increased to 3007830 in March from 2989170 in February of 2017. Tourist Arrivals in Thailand averaged 1336087.04 from 1997 until 2017, reaching an all time high of 3197050 in January of 2017.
Apex has delivered strong growth in revenue and profit over the last 3 years.
Project partners include Movenpick, Sheraton and Hyatt, these brands add significant value to the developments and growth for shareholders.
CEO has been President of Thailand’s Condo Association and Director of the National housing Authority, proven track record as a developer.
Expansion in to much needed Shopping Malls and Theme Parks in Thailand.
2 Billion baht financing approved by shareholders for expansion.
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HEFFX is a Net Buyer of Apex Development Public Company Limited Stock