Raimon Land Posts 12th Consecutive Quarter of Profit and Announces RML-W4

Bangkok, 15 May 2015 – Thailand’s leading luxury real estate company, Raimon Land Public Company Limited (the “Company”), recognized net profit of THB 313 million for 1Q 2015 marking a 12th straight quarter of profit.

Financial Highlights

The Company recognized revenue of THB 1,630 million for 1Q 2015, demonstrating continued solid performance as compared to THB 1,666 million for the same period last year. The Company’s EBITDA and net profit for 1Q 2015 were THB 434 million and THB 313 million, respectively.

As a result of strong operating cash flow, the Company’s interest-bearing debt, net of cash and cash equivalents, to equity ratio now stands at 0.7x, a reduction from 0.9x at the end of 4Q 2014.

“Raimon Land continues to perform well under the current environment, as evidenced by our strong EBITDA and improving balance sheet. The management will continue to closely monitor industry fundamentals, source land plots to further augment the Company’s backlog, and explore opportunities for alternative sources of income,” Johnson Tan, Chief Executive Officer and Board Director, said.

Raimon Land’s Warrants Series 4 (RML-W4) Announced

On 7 April 2015, the Board of Directors had a resolution to issue RML-W4. RML-W4 will have an exercise price of THB 1.97, with issue ratio of 4 ordinary shares to 1 warrant for all shareholders who owns the Company’s shares prior to 5 June 2015. The security will be subjected to shareholders’ approval on 29 May 2015.

“In light of our business strategy to expand the backlog while preserving balance sheet’s flexibility, the Board of Directors has decided to issue RML-W4. In addition to preserving the Company’s cash, RML-W4 will provide the Company with an alternative source of capital, should the warrants be exercised. Shareholders will also be given an opportunity to monetize, should they elect to do so, by trading the security on the Stock Exchange of Thailand said Mr. Tan.

Steady Sales at Existing Properties

1Q 2015 saw sales at the company’s completed existing properties reaching over 90%.

For properties under construction, Unixx South Pattaya offering resort style living at attractive pricing has sold 64% with completion scheduled for 4Q 2015. In Bangkok, The Lofts Ekkamai providing industrial chic loft styling in the inner city, has already sold 85% with completion slated for 4Q 2016.

Raimon Land has seen ongoing growth in sales to mainland Chinese buyers, and plans to unveil new marketing campaigns targeting both international buyers and Thai locals later in 2Q including roadshows and partnerships with leading banks. The Company’s continuing sound deposit policy has ensured that transfer failure rates have remained under 1%.

New Land Acquisitions & Developments

The Company has revealed plans for two new developments in 1H 2015 which will serve to strengthen the Company’s position as a leader for high-end residential properties.

Mews Yen Akat by Raimon Land landed housing estate in the Sathorn central business district is a bespoke offering of 9 unique homes. Raimon Land’s first development in the Limited Edition range reflects the luxuriousness, exclusivity and prime location of each home. Official launch and construction commencement is scheduled within the next 3 months.

The company also announced the purchase of a prime inner city plot of almost 2 Rai near to MRT Subway, BTS and Airport Link, beginning pre-sales late this year.

“Raimon Land has spent the last 2 years focused on internal improvements as well as handover of 2 major developments,” said Mr. Tan. “This year we will unveil new to market properties that will continue to build the company’s reputation as a leader in high-end real estate development.”

The company has received substantial interest in both of these new developments, with advance registrations ahead of expectations.