Summary of the Performance in 2016

L.P.N. Development Public Co., Ltd. or LPN is the developer of residential condominiums under “Lumpini” brand targeting middle to lower-middle income earners. The strategy of the Company is unique from its competitors both in terms of product values i.e. “LPN Design” and service values i.e. “Vibrant Community”, both of which are positively accepted by the customers and residents. In 2016, the Company has launched the new product which serves the needs of a wider group of customers. The 35 square meter-two-bedroom condominium unit is innovative in design and is fully equipped with convenient facilities. Furthermore, the Company has developed “Vibrant Community” into “Vibrant Community For All” strategy to respond to social and population changes as well as to develop new dimensions of residential condominium development.

In 2016, four new projects are launched with the combined value of 5.4 billion THB. The value of new projects launched is almost the same as that in 2015 as a result of the concern over the overall situation which may lead to an economic crisis. Also, household debt rises and directly affects the main target group of customers of the Company. However, although there are fewer new projects launched, there are still projects completed and under construction that can continuously generate income for the Company. As of the end of 2016, the Company commands 13% of the market share of new residential condominium projects launched. The Company achieves the sales volume in 2016 of around 8.4 billion THB and the backlog in 2017 of around 1.7 billion THB.

As for projects completed in 2016, there are nine projects completed with the combined value of 17 billion THB, including The Lumpini 24, the first project of the Company that targets high-end customers, and Lumpini Place Rama 4-Ratchada, the project developed in collaboration with the Crown Property Bureau. In 2016, the Company commands around 20% of market share from 63,000 condominium projects completed and registered in Bangkok and peripheral area. In parallel with financial performance, the Company has realized the importance of the responsibilities of business operators towards the environment and society as well as the significance of anti-corruption measures for sustainable development.

In 2016, the awards received are as follows:

  • From the Stock Exchange of Thailand:
    • - The Company was granted Outstanding Company Performance Awards 2016.
    • - The Company was granted Best Sustainability Awards 2016 amongst the listed companies with market capitalization between 10-30 billion THB.
    • - The Company was one of the 51 listed companies in Thailand Sustainability Investment (THSI) list of the Stock Exchange of Thailand for the second consecutive year.
  • From the Thai Institute of Directors:
    • - The Company was ranked Outstanding (5 stars) in corporate governance.
  • From Thai Listed Companies Association:
    • - The Company was granted Sustainability Report Awards 2016.
  • From ThaiPat Institute:
    • - The Company was listed among the top one hundred companies for outstanding performance in terms of environment, social and governance aspects (ESG 100) for the second consecutive year.
    • - The Company was granted a certificate in recognition for its initiative in preparing the sustainability report based on 17 Sustainable Development Goals (SDGs) or the “Global Goals” of the United Nations.
  • From the Department of Alternative Energy Development and Efficiency, Ministry of Energy
    • - The Company received an award for achieving “Building Energy Code” (BEC).

Apart from the above awards, the Company is also requesting for Level 4 Certification from the Collective Action Coalition Against Corruption (CAC). It demonstrates the commitment of the Company to operate the business based on “sustainable development” principles.