Supalai Public Company Limited

An analyst at Asia Plus Securities said 14 residential developers posted second-quarter 2026 normalised profit of 5.88 billion baht, recovering 75 percent from the previous quarter and rising 16 percent from the same period last year. This marks the first return to year-on-year growth in 12 quarters. Seven companies, namely SPALI, QH, LPN, SC, SIRI, PSH and LALIN, announced interim dividend payments for the first half of 2026, offering average yields of more than 2 to 3 percent, except PSH and QH, which average more than 1 percent. They will go ex-dividend this week between 25 and 28 August 2026. The analyst recommends a market-weight stance, selecting SC and SIRI as top picks to accumulate before the XD dates to capture dividends of around 3 percent, and expects second-half 2026 profit to be better than the first half, when normalised profit was 9.25 billion baht, up 9 percent from the same period last year. Meanwhile, AP pays dividends only once a year but offers a yield above 6 percent per year, and its profit is expected to stand out more in the second half of 2026.

TQR reported second quarter 2026 net profit up 48.07 percent from the same period last year, and its board approved an interim cash dividend of 0.203 baht per share, with the XD date on 24 August 2026 and payment on 4 September 2026. Thai Eastern Group Holdings received a perfect score of 100 points at the excellent level for the third consecutive year in the 2026 annual general meeting quality assessment. Supalai received a perfect score of 100 points at the excellent level for the fourteenth consecutive year. Samo Thong Group posted second quarter 2026 revenue up 2.48 percent to 3.52 billion baht. North East Rubber announced an interim cash dividend of 0.05 baht per share, with the XD date on 20 August and payment on 4 September.

E-Finance Thai News reports the second-quarter 2026 results of 10 property companies, comparing net profit and growth rates with the same period last year. Companies with standout profit growth included Sansiri, AP Thailand, and Supalai, while those with significant profit declines included Pruksa Holding and Land & Houses. Overall, the property sector continues to face pressure from high household debt and loan rejections by financial institutions, causing transfer volumes to slow further.

Supalai disclosed that its Australian business recorded pre-sales of 420 million Australian dollars, or about 9.5 billion baht, in the first six months of 2026, representing 62% of the full-year target of 680 million Australian dollars, or about 15 billion baht. Dr. Prasas Tangmatitham, Director of Supalai Australia Holdings Pty Ltd, said the Brisbane market in Queensland was a key driver, accounting for 43% of total sales. The company has already closed sales on two projects, Arcadia Officer and Brunswick Yard, with a combined project value of more than 190 million Australian dollars, or about 4.28 billion baht. As of 30 June 2026, the company had a sales backlog of 489 million Australian dollars, or about 11 billion baht, with more than half coming from projects in Queensland. The company is confident it will achieve its 2026 sales target as planned.

Supalai Public Company Limited, or SPALI, reported second-quarter net profit for 2026 of 1.65 billion baht, up 542.26 million baht, or 49%, from the same period last year. Revenue from property transfers was 6.83 billion baht, up slightly by 8.34 million baht from the same period last year, comprising 86% from houses and townhouses and 14% from condominiums. For the first six months of 2026, the company posted total transfer revenue of 10.48 billion baht, up 147.56 million baht, or 1%, from the previous year. Its current sales backlog stands at 15.38 billion baht, of which 6.65 billion baht is expected to be transferred and recognised as revenue within the remaining six months of 2026, while the remaining 8.73 billion baht is expected to be recognised over the next three years. The board of directors resolved on 11 August 2026 to approve an interim dividend of 0.55 baht per share, with the ex-dividend date, or XD, set for 25 August 2026 and the record date for 26 August 2026. The dividend is scheduled to be paid on 10 September 2026.

SPALI shares climbed 4.40% to 16.60 baht after Dao Securities Thailand upgraded its recommendation to buy with a target price of 19.00 baht, up from 16.40 baht. The company reported second-quarter 2026 net profit of 1.6 billion baht, up 49% from a year earlier and 310% from the previous quarter, well above the consensus estimate of 782 million baht. Total revenue was 6.9 billion baht, flat from a year earlier but up 83% from the previous quarter. Revenue from ownership transfers came mainly from low-rise projects at 86% and condominiums at 14%. Share of profit from investments rose 99% from a year earlier to 890 million baht, supported by joint-venture projects in Australia with significantly higher transfers. Finance costs fell 22% to 150 million baht thanks to new low-interest debentures. The research team raised its 2026 net profit forecast by 9% to 4.4 billion baht. First-half profit was 2.0 billion baht, representing 47% of the full-year estimate, and the second half is expected to improve as two new condominium projects begin transfers, compared with only one project in the first half. The company announced an interim dividend of 0.55 baht per share, representing a dividend yield of about 3.5%, with the ex-dividend date set for 25 August 2026.

Asia Plus Securities said the combined net profit of 277 Thai listed companies in the second quarter of 2026 came in 11.8% above market expectations, a factor supporting the SET Index's tendency to swing upward and test resistance at 1,630 points this week. Companies that reported standout earnings included CENTEL, BA, SPALI, BCP, SCC, PTTGC, SJW, ITC, SCGP, PTTEP, GULF, TTB, KTB and KCE, and this is expected to lead to upward revisions in market earnings estimates in the next phase. Asia Plus Securities recommends a Selective Buy strategy, naming ADVANC, HANA and SPALI as top picks for the day. It noted that ADVANC is attractive for its interim dividend yield of 2.3% of the market price. HANA's second-quarter results are expected to recover both quarter-on-quarter and year-on-year, and it is benefiting from being selected for the latest MSCI Small Cap Index. SPALI reported second-quarter net profit above expectations and announced an interim dividend of 0.55 baht per share, representing a yield of 3.5%.

Dao Securities (Thailand) expects the SET Index to move sideways with an upward bias after US inflation came in line with expectations, easing investor concerns about Federal Reserve rate hikes, while the market continues to watch second-quarter earnings announcements. MSCI announced the inclusion of GUNKUL and HANA in the MSCI Thailand Small Cap Index, while removing CHG and JTS. The main strategy expects buying in large-cap stocks on potential foreign fund inflows, especially DELTA, and recommends speculative plays on stocks with expected strong results. Today's standout is SPALI, whose second-quarter 2026 net profit beat expectations by 111 percent at 1.6 billion baht, up 49 percent from a year earlier and 310 percent from the previous quarter, driven by strong transfers and a rise in profit sharing from joint ventures to 890 million baht. Dao Securities upgraded the stock to buy and raised its target price to 19.00 baht after lifting its 2026 profit forecast by 9 percent to 4.4 billion baht, with a dividend yield of about 8 percent per year. EPG posted record first-quarter fiscal 2027 core profit, beating expectations by 14 percent at 474 million baht, up 53 percent from a year earlier and 28 percent from the previous quarter, as all businesses improved, especially Aeroflex, which stood out in the US market. Dao Securities recommends buying EPG and raised its target price to 8.50 baht after lifting its fiscal 2027 core profit forecast by 5 percent to 1.6 billion baht, up 21 percent from a year earlier, with the stock trading at a fiscal 2027 core price-to-earnings ratio of 10.3 times, or minus 1.1 standard deviations. Today's SET Index range is seen with support at 1,600 to 1,606 points and resistance at 1,617 to 1,623 points.

CGS International Securities Thailand, or CGSI, expects the Thai stock market index to move in a range of 1,610 to 1,635 points today, supported by buying in artificial intelligence stocks and US consumer price inflation slowing in line with expectations, which has raised investor hopes that the Federal Reserve will not raise interest rates at next month's meeting. CGSI recommends SPALI after it reported second-quarter 2026 net profit of 1.65 billion baht, 84.6% above expectations, and KCE, whose second-quarter 2026 core net profit was 242 million baht, up 35% from a year earlier and 34% from the previous quarter, exceeding CGSI and Bloomberg consensus estimates by 8% and 10% respectively.

Supalai Public Company Limited, or SPALI, has successfully offered two series of bonds worth a combined 4 billion baht, with institutional investor demand reaching twice the offering amount. The first series, valued at 2 billion baht, has a tenor of 1 year and 6 months and a discount rate of 1.54 percent per annum. The second series, also valued at 2 billion baht, has a tenor of 2 years, 5 months, and 29 days and a discount rate of 1.82 percent per annum. The bonds are registered, unsubordinated, unsecured, and have no bondholder representative. They were offered through Kasikornbank and UOB. The company has maintained an A credit rating with a stable outlook from TRIS Rating for the 12th consecutive year, reflecting its strong financial position and investor confidence.

Analysts at TTB Wealth Securities have an OVERWEIGHT call on the property sector, expecting the market downcycle to trough in 2026, with current share prices already pricing in most negatives. Housing demand is still about 40% below its long-term normal level, but is seen gradually recovering from 2027 onwards alongside the economic recovery, with market share concentrating further among large developers. Preferred stocks are AP, SIRI and SPALI. Meanwhile, the Agency for Real Estate Affairs notes the housing market is moving towards a better demand-supply balance, with new project launches up 12% in the first half of 2026 while sales rose 15%, led by condominiums where new launches jumped 41% and sales rose 27%. Townhouse sales increased 9% even as new launches were flat, while single-detached and semi-detached house launches fell 24% but sales dipped only 3%, causing unsold inventory to start normalising. The number of unsold remaining units fell to 210,000 from 234,000 at end-2024, with unsold condominiums down 22% to 62,000 units, townhouses down 10% to 69,000 units, while unsold single-detached and semi-detached houses were steady at around 77,000 units as the adjustment has only just begun.

Supalai Public Company Limited, or SPALI, has launched a new feature called Supalai Marketplace on the SABAI Application, a platform that connects all aspects of living and lifestyle for its residents. It brings together specially curated products and services from leading brands, offering discounts of up to 30% for Supalai residents. In the first phase, partners include ION Energy, KONCEPT Furniture, Modern Outdoor, JOHNSON, and Hafele, with plans to expand into other categories such as electrical appliances, health, and various services in the future. Miss Thanyawat Panyarat, Assistant Managing Director of Marketing and Sales, said that Supalai Marketplace is part of the continuous development of the SABAI Application to create an ecosystem that meets every dimension of living. Meanwhile, Miss Bussarin Rungrattanakul, Director of High-Rise Marketing and Sales, stated that the company plans to extend this into a Community Platform where residents can easily buy, sell, exchange goods, or share services among themselves.

Supalai Public Company Limited, or SPALI, has launched the Supalai Palm Springs Suphan Buri project, valued at over 2 billion baht. The project sits on 86 rai of land and comprises 384 units in Tambon Phai Khwang, Mueang Suphan Buri District, marking the company's 30th province. The development features single-detached and semi-detached homes in a Tropical Oriental Series style, with seven house types to choose from, offering usable areas ranging from 135 to 330 square metres. Amenities include a public park, children's playground, fitness centre, mineral-water swimming pool, 24-hour security, and smart home technology via a home automation system and the SUPALAI SABAI application. The homes also support EV charger installation. A pre-sale event will be held on 1 to 2 August 2026, with starting prices at 4.39 million baht.