New Risk • Apr 16
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ฿300.3m (US$9.38m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (26% average weekly change). Earnings have declined by 30% per year over the past 5 years. Market cap is less than US$10m (฿300.3m market cap, or US$9.38m). Board Change • Apr 08
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 6 highly experienced directors. Independent Director Wattana Suthipinijtham was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 04
Property Perfect Public Company Limited, Annual General Meeting, Apr 30, 2026 Property Perfect Public Company Limited, Annual General Meeting, Apr 30, 2026, at 15:00 SE Asia Standard Time. Announcement • Mar 03
Property Perfect Public Company Limited to Report Fiscal Year 2025 Results on Mar 20, 2026 Property Perfect Public Company Limited announced that they will report fiscal year 2025 results on Mar 20, 2026 Reported Earnings • Nov 15
Third quarter 2025 earnings released: ฿0.05 loss per share (vs ฿0.039 loss in 3Q 2024) Third quarter 2025 results: ฿0.05 loss per share (further deteriorated from ฿0.039 loss in 3Q 2024). Revenue: ฿1.12b (down 42% from 3Q 2024). Net loss: ฿543.0m (loss widened 40% from 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 55 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 16
Second quarter 2025 earnings released: ฿0.065 loss per share (vs ฿0.018 loss in 2Q 2024) Second quarter 2025 results: ฿0.065 loss per share (further deteriorated from ฿0.018 loss in 2Q 2024). Revenue: ฿986.1m (down 59% from 2Q 2024). Net loss: ฿655.1m (loss widened 269% from 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 65 percentage points per year, which is a significant difference in performance. Announcement • Jul 02
Property Perfect Public Company Limited Announces Resignation of Sirirat Wongwattana as Director, Effective 1 July 2025 We, Property Perfect Public Company Limited announced that Miss Sirirat Wongwattana submitted a resignation letter as the Director of the Company, effective on 1 July 2025 due to the retirement. And the Company will hold a Board of Directors Meeting for consideration and appointment of a new director to fill the vacancy. Reported Earnings • May 17
First quarter 2025 earnings released: ฿0.028 loss per share (vs ฿0.007 loss in 1Q 2024) First quarter 2025 results: ฿0.028 loss per share (further deteriorated from ฿0.007 loss in 1Q 2024). Revenue: ฿1.65b (down 32% from 1Q 2024). Net loss: ฿282.9m (loss widened 311% from 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 63 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 04
Full year 2024 earnings released: ฿0.10 loss per share (vs ฿0.02 loss in FY 2023) Full year 2024 results: ฿0.10 loss per share (further deteriorated from ฿0.02 loss in FY 2023). Revenue: ฿8.92b (down 18% from FY 2023). Net loss: ฿1.01b (loss widened 414% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 55 percentage points per year, which is a significant difference in performance. Announcement • Mar 01
Property Perfect Public Company Limited, Annual General Meeting, Apr 25, 2025 Property Perfect Public Company Limited, Annual General Meeting, Apr 25, 2025, at 10:00 SE Asia Standard Time. New Risk • Dec 13
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Thai stocks, typically moving 9.2% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.2x net interest cover). Share price has been highly volatile over the past 3 months (9.2% average weekly change). Earnings have declined by 11% per year over the past 5 years. Minor Risks Paying a dividend despite being loss-making. Market cap is less than US$100m (฿1.80b market cap, or US$53.0m). Reported Earnings • Aug 14
Second quarter 2024 earnings released: ฿0.018 loss per share (vs ฿0.011 loss in 2Q 2023) Second quarter 2024 results: ฿0.018 loss per share (further deteriorated from ฿0.011 loss in 2Q 2023). Revenue: ฿2.41b (up 2.0% from 2Q 2023). Net loss: ฿177.8m (loss widened 65% from 2Q 2023). Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has fallen by 30% per year, which means it is significantly lagging earnings. New Risk • Aug 09
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Thai stocks, typically moving 9.5% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.3x net interest cover). Share price has been highly volatile over the past 3 months (9.5% average weekly change). Earnings have declined by 23% per year over the past 5 years. Minor Risks Paying a dividend despite being loss-making. Market cap is less than US$100m (฿1.50b market cap, or US$42.6m). Reported Earnings • May 16
First quarter 2024 earnings released: ฿0.007 loss per share (vs ฿0.006 loss in 1Q 2023) First quarter 2024 results: ฿0.007 loss per share (further deteriorated from ฿0.006 loss in 1Q 2023). Revenue: ฿2.41b (down 6.9% from 1Q 2023). Net loss: ฿68.8m (loss widened 9.3% from 1Q 2023). Over the last 3 years on average, earnings per share has increased by 78% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Announcement • Apr 27
Property Perfect Public Company Limited Approves Payment of Dividends for the Fiscal Year 2023, Payable Within 24 May 2024 Property Perfect Public Company Limited at is AGM held on April 25, 2024, announced approval for the payment of dividends for the performance results of the fiscal year 2023 to the Shareholders of the Company in number of 10,011,080,604 shares, at the rate of THB 0.013 per share, totaling amount of dividends paid to the Shareholders not exceeding THB 130,144,048 or being equivalent to 20.10% of the net profits of the Company's single financial statements after deducting the legal reserve, and it is in accordance with the conditions in the policy of dividends payment as announced by the Company, However, such dividends shall be subject to the withholding tax at the rate as specified by law. The names of Shareholders who are entitled to receive dividends for the performance results of the fiscal year 2023 will be fixed on 7 May 2024 (Record Date), which the Company will pay dividends within 24 May 2024. Upcoming Dividend • Apr 26
Upcoming dividend of ฿0.013 per share Eligible shareholders must have bought the stock before 03 May 2024. Payment date: 24 May 2024. The company is not currently making a profit but it is cash flow positive. Trailing yield: 5.0%. Lower than top quartile of Thai dividend payers (5.9%). In line with average of industry peers (4.6%). Reported Earnings • Mar 02
Full year 2023 earnings released: ฿0.02 loss per share (vs ฿0.002 loss in FY 2022) Full year 2023 results: ฿0.02 loss per share (further deteriorated from ฿0.002 loss in FY 2022). Revenue: ฿10.8b (up 4.5% from FY 2022). Net loss: ฿196.4m (loss widened ฿171.5m from FY 2022). Over the last 3 years on average, earnings per share has increased by 94% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. New Risk • Feb 07
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 6.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (2.1% operating cash flow to total debt). Earnings have declined by 24% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.2% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (฿2.90b market cap, or US$81.5m). Reported Earnings • Nov 11
Third quarter 2023 earnings released: ฿0.015 loss per share (vs ฿0.006 loss in 3Q 2022) Third quarter 2023 results: ฿0.015 loss per share (further deteriorated from ฿0.006 loss in 3Q 2022). Revenue: ฿2.22b (down 18% from 3Q 2022). Net loss: ฿154.6m (loss widened 196% from 3Q 2022). Over the last 3 years on average, earnings per share has increased by 97% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 12
Second quarter 2023 earnings released: ฿0.011 loss per share (vs ฿0.005 loss in 2Q 2022) Second quarter 2023 results: ฿0.011 loss per share (further deteriorated from ฿0.005 loss in 2Q 2022). Revenue: ฿2.37b (down 1.0% from 2Q 2022). Net loss: ฿107.8m (loss widened 67% from 2Q 2022). Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 6.8% growth forecast for the Real Estate industry in Thailand. Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. New Risk • Jun 29
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ฿3.50b (US$98.5m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.2x net interest cover). Earnings are forecast to decline by an average of 35% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Market cap is less than US$100m (฿3.50b market cap, or US$98.5m). Reported Earnings • May 18
First quarter 2023 earnings released: ฿0.006 loss per share (vs ฿0.055 loss in 1Q 2022) First quarter 2023 results: ฿0.006 loss per share (improved from ฿0.055 loss in 1Q 2022). Revenue: ฿2.59b (up 41% from 1Q 2022). Net loss: ฿63.0m (loss narrowed 89% from 1Q 2022). Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 7.0% growth forecast for the Real Estate industry in Thailand. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • May 02
Upcoming dividend of ฿0.02 per share at 5.1% yield Eligible shareholders must have bought the stock before 09 May 2023. Payment date: 26 May 2023. The company is not currently making a profit but it is cash flow positive. Trailing yield: 5.1%. Lower than top quartile of Thai dividend payers (6.2%). Higher than average of industry peers (4.1%). Reported Earnings • Aug 14
Second quarter 2022 earnings released: ฿0.004 loss per share (vs ฿0.02 loss in 2Q 2021) Second quarter 2022 results: ฿0.004 loss per share (up from ฿0.02 loss in 2Q 2021). Revenue: ฿2.39b (up 1.4% from 2Q 2021). Net loss: ฿64.3m (loss narrowed 65% from 2Q 2021). Over the next year, revenue is forecast to grow 51%, compared to a 22% growth forecast for the industry in Thailand. Over the last 3 years on average, earnings per share has fallen by 58% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Upcoming Dividend • May 04
Upcoming dividend of ฿0.016 per share Eligible shareholders must have bought the stock before 11 May 2022. Payment date: 25 May 2022. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of Thai dividend payers (5.2%). In line with average of industry peers (3.1%). Price Target Changed • Apr 27
Price target decreased to ฿0.62 Down from ฿1.13, the current price target is provided by 1 analyst. New target price is 27% above last closing price of ฿0.49. Stock is down 3.9% over the past year. The company is forecast to post a net loss per share of ฿0.02 compared to earnings per share of ฿0.05 last year. Reported Earnings • Feb 27
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: ฿0.05 (up from ฿0.12 loss in FY 2020). Revenue: ฿9.61b (down 22% from FY 2020). Net income: ฿526.7m (up ฿1.62b from FY 2020). Profit margin: 5.5% (up from net loss in FY 2020). Revenue missed analyst estimates by 10%. Earnings per share (EPS) exceeded analyst estimates. Over the next year, revenue is forecast to grow 55%, compared to a 19% growth forecast for the industry in Thailand. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 71 percentage points per year, which is a significant difference in performance. Announcement • Feb 26
Property Perfect Public Company Limited Proposes Dividend for the Year 2021, Payable Within May 25, 2022 Property Perfect Public Company Limited approved the dividend by ordinary shares to the Shareholders of the Company at the ratio of 20 existing shares to 1 dividend share, being ordinary shares in the number of not exceeding 476,729,203 shares, with the par value of THB 1 per share, totaling amount not exceeding THB 476,729,203 or equivalent to the rate of payment of dividends of THB 0.05 per share. In case of any Shareholder has a friction of existing share after allotment of the dividend share, the dividend shall be paid by cash in place of the payment by ordinary shares at the rate of THB 0.05 per share and to pay the dividend by cash at the rate of THB 0.015558711280 per share, being the amount not exceeding THB 148,345,840.66. The names of Shareholders who are entitled to receive dividends for the performance results of the fiscal year 2021 will be fixed on 12 May 2022 (Record Date), which the Company will pay dividends within 25 May 2022. Announcement • Feb 25
Property Perfect Public Company Limited, Annual General Meeting, Apr 25, 2022 Property Perfect Public Company Limited, Annual General Meeting, Apr 25, 2022, at 10:00 SE Asia Standard Time. Location: Royal Orchid Sheraton Hotel and Towers, No.2 Captain Bush Lane Charoen Krung Road, Bangrak Sub-district, Bangrak District, Bangkok Metropolis Bangkok Thailand Agenda: To acknowledge the matters to be informed; to consider the performance results of the VOD for the previous year and the Annual Report; to consider the payment of remuneration of BOD; to consider election of new Directors in place of those retiring by rotation; and to consider any other matters. Reported Earnings • Nov 13
Third quarter 2021 earnings released: EPS ฿0.042 (vs ฿0.03 loss in 3Q 2020) The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: ฿2.12b (down 28% from 3Q 2020). Net income: ฿412.5m (up ฿701.1m from 3Q 2020). Profit margin: 19% (up from net loss in 3Q 2020). The move to profitability was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 76 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 13
Second quarter 2021 earnings released: ฿0.021 loss per share (vs ฿0.026 loss in 2Q 2020) The company reported a decent second quarter result with reduced losses and improved control over expenses, although revenues were weaker. Second quarter 2021 results: Revenue: ฿2.36b (down 12% from 2Q 2020). Net loss: ฿186.1m (loss narrowed 26% from 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 67 percentage points per year, which is a significant difference in performance. Reported Earnings • May 16
First quarter 2021 earnings released: ฿0.017 loss per share (vs ฿0.007 profit in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and control over costs. First quarter 2021 results: Revenue: ฿2.62b (down 29% from 1Q 2020). Net loss: ฿153.2m (down 336% from profit in 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 62 percentage points per year, which is a significant difference in performance. Analyst Estimate Surprise Post Earnings • Mar 03
Earnings beat expectations, revenue disappoints Revenue missed analyst estimates by 13%. Earnings per share (EPS) exceeded analyst estimates by 44%. Over the next year, revenue is forecast to grow 50%, compared to a 12% growth forecast for the Real Estate industry in Thailand. Reported Earnings • Mar 02
Full year 2020 earnings released: ฿0.12 loss per share (vs ฿0.11 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: ฿12.3b (down 39% from FY 2019). Net loss: ฿1.05b (down 196% from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. Announcement • Feb 26
Property Perfect Public Company Limited, Annual General Meeting, Apr 29, 2021 Property Perfect Public Company Limited, Annual General Meeting, Apr 29, 2021, at 03:00 Coordinated Universal Time. Location: Regency Ballroom, 5th Floor, at Hyatt Regenccy Bangkok Sukhumvit Road, Klongtoey-Nua Sukhumvit Hotel, No. 1 Soi Sukhumvit 13 (Sangchan) Sub-district Wattana District Bangkok Thailand Agenda: To acknowledge the matters to be informed; to consider the minutes of AGM of the company for the fiscal year 2020; to consider the performance results of the board of directors for the previous year and the annual report; to approve the statements of financial position and the statements of comprehensive income of the company for the fiscal year ended December 31, 2020; to consider the election of new directors in place of those retiring by rotation; to consider and appoint the auditors of the company for the fiscal year 2021 and fix the remuneration; to consider payment of dividends for the company's performance results of the fiscal year 2020; and to consider other matters. Is New 90 Day High Low • Dec 04
New 90-day high: ฿0.40 The company is up 8.0% from its price of ฿0.37 on 03 September 2020. The Thai market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 13% over the same period. Is New 90 Day High Low • Nov 17
New 90-day high: ฿0.39 The company is up 5.0% from its price of ฿0.37 on 19 August 2020. The Thai market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 2.0% over the same period. Reported Earnings • Nov 13
Third quarter 2020 earnings released: ฿0.03 loss per share The company reported a poor third quarter result with weaker earnings, revenues and control over expenses. Third quarter 2020 results: Revenue: ฿2.94b (down 35% from 3Q 2019). Net loss: ฿276.4m (down 182% from profit in 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has fallen by 24% per year, which means it is performing significantly worse than earnings. Is New 90 Day High Low • Oct 22
New 90-day low: ฿0.32 The company is down 22% from its price of ฿0.41 on 24 July 2020. The Thai market is down 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is down 14% over the same period. Announcement • Sep 21
Property Perfect Public Company Limited(SET:PF) dropped from S&P Global BMI Index Property Perfect Public Company Limited(SET:PF) dropped from S&P Global BMI Index Is New 90 Day High Low • Sep 19
New 90-day low: ฿0.35 The company is down 20% from its price of ฿0.44 on 19 June 2020. The Thai market is down 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is down 10.0% over the same period. Announcement • Jul 30
Sumitomo Forestry Singapore Ltd. completed the acquisition of 49% stake in PF Forestry Co., Ltd. from Property Perfect Public Company Limited (SET:PF). Sumitomo Forestry Singapore Ltd. signed an agreement to acquire 49% stake in PF Forestry Co., Ltd. from Property Perfect Public Company Limited (SET:PF) for approximately THB 250 million on May 14, 2019. Sumitomo Forestry Singapore Ltd. will acquire 2.45 million shares for THB 100 each. The Board of PF Forestry Co., Ltd. will comprise of 2 representatives from Sumitomo Forestry Singapore Ltd. and Property Perfect Public Company Limited each. The Board of Directors of Property Perfect Public Company Limited approved the transaction on May 14, 2019.
Sumitomo Forestry Singapore Ltd. completed the acquisition of 49% stake in PF Forestry Co., Ltd. from Property Perfect Public Company Limited (SET:PF) on June 12, 2019. 
