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4) Financial Status 4.1 Assets Total Assets as at December 31, 2010, accounted for Baht 5,512.70 million, increased by Baht 168.41 million or 3.15% compared with Baht 5,344.28 million in 2009. The Increase was mainly based on real estate projects development costs due to this year the Company launched 6 new projects to divide into 2 condominium and 4 townhouse projects. Major change in company assets are as follows: „ Cash

and cash equivalents

Cash and cash equivalents as at December 31, 2010, accounted for Baht 112.27 million, decreased by Baht 54.03 million or 32.49% compared with Baht 166.29 million in year 2009. (please see Notes to Financial Statement No. 5) Due to in last year the government had activated the sale of property by customers to transfer house in year 2009. The customer could bring the housing payment for reduction of personal income tax Baht 300,000. So it resulted the Company large volume of house transfer in the end of year 2009. „ Real

estate projects development costs

Real estate projects development costs as at December 31, 2010 was Baht 5,085.69 million, increased by Baht 466.06 million or 10.09% compared with Baht 4,619.63 million in year 2009. Due to this year the Company launched 6 new projects to divide into 2 condominium projects and 4 townhouse projects. So this year the Company acquired 4 new lands while the Company had no purchase new land in last year. „ Deposit

in land

Deposit in land as at December 31, 2010 was Baht 26 million, decreased by Baht 101 million or 79.53% compared with Baht 127 million in year 2009. Due to this year the Company had already purchased land which paid deposit in land in last year. „ Efficiency

Ratios

Return on Assets and Return on Fixed Assets decreased from 9.36% in 2009 to 7.88% in year 2010 and from 393.10% in year 2009 to 329.52% in year 2010, respectively. As a result from decrease in net profit due to increase in large amount of selling expenses.

4.2 Liquidity „ Cash

Flows from Operating Activities

Cash flows from operating activities at end of year 2010 was equal to Baht 51.69 million. Compared with year 2009, the company had cash flows from operating activities equal to Baht 1,225.33 million. The main reason of decrease balance was real estate projects development costs-net increased amount of Baht 235.04 million due to this year the Company spent on 6 new projects dividing into 2 condominium projects and 4 townhouse projects and purchased 4 new lands. Moreover this year net profit decreased Baht 90.06 million from last year. „ Cash

Flows from Investing Activities

Cash flows from investing activities of year 2010 was Baht -10.14 million whereas Baht -43.83 million in year 2009 mainly affected from decrease in acquiring construction equipment by the Company’s subsidiary. (One Up Company Limited). Moreover the company used of saving deposits as collateral for the banks to issue the letter of guarantee less than in last year. „ Cash

Flows from Financing Activities

Cash flows from financing activities of year 2010 was Baht -95.58 million whereas Baht -1,066.78 million in year 2009. Although this year the Company had high volume transferred units to customers and the company could also repay both long-term and short term loans from financial institutions in large amount but the Company had requested for new loan for acquiring in new lands. As a result, the Company’s cash flows from financing activities decreased less than last year.

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AREEYA AWARD WINNING ANNUAL CHIC REPORT 2010

A 10  

A_2010 AREEYA PROPERTY PCL Annual Report 2010

A 10  

A_2010 AREEYA PROPERTY PCL Annual Report 2010

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