Office and industrial estate businesses support first-half performance, while Fiji hotels achieve record-high RevPAR. Residential joint venture One River Rama 3 is fully sold, with phased handovers expected to begin in late 2026.

BANGKOK, August 2026 – Singha Estate Public Company Limited (SET: S) reported operating revenue of THB 2.89 billion for the second quarter of 2026, bringing total operating revenue for the first half of the year to THB 6.15 billion. More than 90% of the company’s core revenue was generated by recurring-income businesses, reinforcing the stability of its revenue base and cash flow. EBITDA margin increased to 26%, reflecting the company’s continued focus on cost management and operational resilience, as well as disciplined portfolio management across its diversified businesses.

Mr. Chairath Sivapornpan, Chief Executive Officer of Singha Estate Public Company Limited (SET: S), said: “We continue to actively manage our portfolio while maintaining strong financial discipline to enhance business flexibility and position the company to capture future investment opportunities. During the second quarter, our THB 2 billion bond offering was fully subscribed within a short period, reflecting investor confidence in Singha Estate’s fundamentals and business potential. The proceeds will also support more efficient financial cost management and further strengthen our readiness for ongoing operations and future investment plans, while providing investors with an alternative investment opportunity offering consistent returns at an appropriate level of risk.”

Diversified Portfolio Drives Resilient First-Half Performance

Singha Estate’s first-half results reflected the strength and resilience of its diversified business portfolio, with solid contributions across its commercial, industrial estate, hospitality and residential businesses.

• Commercial office business generated revenue of THB 645 million in the first half of 2026, up 9% year on year, while normalized net profit reached a record high of THB 323 million, an increase of 38% from the same period last year. The performance was supported by consistently high occupancy rates across the company’s key office properties.
• Industrial estate and infrastructure business recorded revenue of THB 90 million, nearly tripling from the previous year, driven by higher utility income in line with increased customer consumption, together with the transfer of ownership of 13 rai of industrial land. In the second half of the year, Singha Estate plans to transfer additional land to a data center operator as scheduled, which is expected to provide further support to revenue recognition for the remainder of 2026.
• Hospitality operations have begun benefiting from the tourism high season in Fiji and the United Kingdom. The company’s Fiji hotel portfolio achieved an average occupancy rate of nearly 90% in the second quarter, driving Revenue per Available Room (RevPAR) to a new record high of FJD 625.
• Meanwhile, the residential business continued to benefit from sustained demand from genuine homebuyers from the second into the third quarter. One River Rama 3, a residential joint venture between Singha Estate Public Company Limited and One Real Estate Company Limited, has now sold out. Construction was approximately 70% complete as of August 2026, with the project expected to begin phased handovers of certain units ahead of schedule in late 2026. The handovers are expected to support revenue recognition from the residential business in the coming periods.

Mr. Chairath added: “Our first-half performance demonstrates the strength of Singha Estate’s diversified portfolio and our ability to generate a balanced revenue stream across multiple business segments. In the second half of the year, we will remain focused on improving operational efficiency while maintaining financial discipline and recognising revenue from projects in line with our plans. These priorities will support sustainable growth and create long-term returns for our shareholders.”