Assetwise vs L.P.N. Development: why the prices moved differently

Weekly · monthly · quarterly news summaries, side by side in time

Assetwise Public Company Limited (ASW.BK)

Q3 20262 Aug – 7 Oct 2026

▲4

ASW profit surges, Phuket expands, new projects launch

Q2 profit surge and record backlog ASW reported Q2 2026 net profit of 563 million baht, up 184% from a year earlier, on strong condo transfers in Phuket. First-half profit nearly doubled to 792 million baht, and the sales backlog hit a record 38.2 billion baht, securing revenue through 2028. This confirms the company is executing well and gives investors confidence in future earnings.
This is the core earnings story that directly explains why ASW's stock is moving.
Phuket expansion and foreign demand ASW took over TITLE, a Phuket specialist, adding over 20 billion baht in Phuket sales and a 200-rai land bank. Phuket is becoming a global hub for wealthy foreigners, with strong cash purchases and low loan rejection. This boosts ASW's premium project sales and margins.
Phuket is a key growth driver and a major reason for ASW's recent profit surge.
New project launches and transfers ASW launched several new condos, including WYNN Bang Mot, KAVALON, and Modiz Voyager, and is transferring large projects like KAVE Town. Nine-month sales reached 15.3 billion baht, 83% of the annual target. These launches and transfers support revenue growth into 2027.
New launches and transfers are the operational engine that drives future revenue and profit.
Capital moves: debentures, stake sales, M&A ASW will issue its first public debentures to fund expansion, sold a 49% stake in WE23 to Tokyo Tatemono, and acquired Chewathai Estate 3. These moves bring in cash, reduce risk, and support growth, while the credit rating upgrade to BBB lowers borrowing costs.
Capital actions strengthen the balance sheet and fund expansion, directly supporting the stock.

September 20262 Aug – 7 Oct 2026

▲4

ASW profit surges, Phuket expands, new projects launch

Q2 profit surge and record backlog ASW reported Q2 2026 net profit of 563 million baht, up 184% from a year earlier, on strong condo transfers in Phuket. First-half profit nearly doubled to 792 million baht, and the sales backlog hit a record 38.2 billion baht, securing revenue through 2028. This confirms the company is executing well and gives investors confidence in future earnings.
This is the core earnings story that directly explains why ASW's stock is moving.
Phuket expansion and foreign demand ASW took over TITLE, a Phuket specialist, adding over 20 billion baht in Phuket sales and a 200-rai land bank. Phuket is becoming a global hub for wealthy foreigners, with strong cash purchases and low loan rejection. This boosts ASW's premium project sales and margins.
Phuket is a key growth driver and a major reason for ASW's recent profit surge.
New project launches and transfers ASW launched several new condos, including WYNN Bang Mot, KAVALON, and Modiz Voyager, and is transferring large projects like KAVE Town. Nine-month sales reached 15.3 billion baht, 83% of the annual target. These launches and transfers support revenue growth into 2027.
New launches and transfers are the operational engine that drives future revenue and profit.
Capital moves: debentures, stake sales, M&A ASW will issue its first public debentures to fund expansion, sold a 49% stake in WE23 to Tokyo Tatemono, and acquired Chewathai Estate 3. These moves bring in cash, reduce risk, and support growth, while the credit rating upgrade to BBB lowers borrowing costs.
Capital actions strengthen the balance sheet and fund expansion, directly supporting the stock.

Latest2 Aug – 7 Oct 2026

▲4

ASW profit surges, Phuket expands, new projects launch

Q2 profit surge and record backlog ASW reported Q2 2026 net profit of 563 million baht, up 184% from a year earlier, on strong condo transfers in Phuket. First-half profit nearly doubled to 792 million baht, and the sales backlog hit a record 38.2 billion baht, securing revenue through 2028. This confirms the company is executing well and gives investors confidence in future earnings.
This is the core earnings story that directly explains why ASW's stock is moving.
Phuket expansion and foreign demand ASW took over TITLE, a Phuket specialist, adding over 20 billion baht in Phuket sales and a 200-rai land bank. Phuket is becoming a global hub for wealthy foreigners, with strong cash purchases and low loan rejection. This boosts ASW's premium project sales and margins.
Phuket is a key growth driver and a major reason for ASW's recent profit surge.
New project launches and transfers ASW launched several new condos, including WYNN Bang Mot, KAVALON, and Modiz Voyager, and is transferring large projects like KAVE Town. Nine-month sales reached 15.3 billion baht, 83% of the annual target. These launches and transfers support revenue growth into 2027.
New launches and transfers are the operational engine that drives future revenue and profit.
Capital moves: debentures, stake sales, M&A ASW will issue its first public debentures to fund expansion, sold a 49% stake in WE23 to Tokyo Tatemono, and acquired Chewathai Estate 3. These moves bring in cash, reduce risk, and support growth, while the credit rating upgrade to BBB lowers borrowing costs.
Capital actions strengthen the balance sheet and fund expansion, directly supporting the stock.

L.P.N. Development Public Company Limited (LPN.BK)

Q3 202630 Jul – 9 Oct 2026

▲3▼1

LPN pushes rentals, online sales and new launches to offset weak low-rise demand

Rental demand and yield focus LPN says rental demand is surging as buyers delay purchases. Its rental projects post high occupancy (over 90%) and yields of 6.5-7.5%, giving steady cash flow and supporting earnings while the for-sale market recovers.
Shows a key new demand driver that supports LPN's revenue and offsets weak condo sales.
New projects and online sales push LPN launched an online sales platform and plans three new projects worth over 2.7 billion baht in the second half. It also opened a sales gallery for Lumpini Park Bang Wa and got EIA approval for Lumpini Park on Nineteen, adding future revenue.
Highlights concrete new sales channels and project pipeline that can drive future transfers and bookings.
Presale with guaranteed returns LPN opened presale for Lumpini Park Bang Wa Interchange, offering a 6% return guarantee for six years and discounts. This targets investors and aims to lock in sales for the 862-unit project, supporting future revenue.
A specific sales event that could boost bookings and cash flow, directly affecting LPN's outlook.
Weak low-rise market and floods Tris Rating says Bangkok floods are worsening an already weak housing market. Low-rise sales fell 16% in the first half, which could slow LPN's inventory clearance and cash collection, though LPN's exposure is moderate.
Provides the main counterweight: a real risk that could pressure LPN's sales and transfers.

September 202630 Jul – 9 Oct 2026

▲3▼1

LPN pushes rentals, online sales and new launches to offset weak low-rise demand

Rental demand and yield focus LPN says rental demand is surging as buyers delay purchases. Its rental projects post high occupancy (over 90%) and yields of 6.5-7.5%, giving steady cash flow and supporting earnings while the for-sale market recovers.
Shows a key new demand driver that supports LPN's revenue and offsets weak condo sales.
New projects and online sales push LPN launched an online sales platform and plans three new projects worth over 2.7 billion baht in the second half. It also opened a sales gallery for Lumpini Park Bang Wa and got EIA approval for Lumpini Park on Nineteen, adding future revenue.
Highlights concrete new sales channels and project pipeline that can drive future transfers and bookings.
Presale with guaranteed returns LPN opened presale for Lumpini Park Bang Wa Interchange, offering a 6% return guarantee for six years and discounts. This targets investors and aims to lock in sales for the 862-unit project, supporting future revenue.
A specific sales event that could boost bookings and cash flow, directly affecting LPN's outlook.
Weak low-rise market and floods Tris Rating says Bangkok floods are worsening an already weak housing market. Low-rise sales fell 16% in the first half, which could slow LPN's inventory clearance and cash collection, though LPN's exposure is moderate.
Provides the main counterweight: a real risk that could pressure LPN's sales and transfers.

Latest30 Jul – 9 Oct 2026

▲3▼1

LPN pushes rentals, online sales and new launches to offset weak low-rise demand

Rental demand and yield focus LPN says rental demand is surging as buyers delay purchases. Its rental projects post high occupancy (over 90%) and yields of 6.5-7.5%, giving steady cash flow and supporting earnings while the for-sale market recovers.
Shows a key new demand driver that supports LPN's revenue and offsets weak condo sales.
New projects and online sales push LPN launched an online sales platform and plans three new projects worth over 2.7 billion baht in the second half. It also opened a sales gallery for Lumpini Park Bang Wa and got EIA approval for Lumpini Park on Nineteen, adding future revenue.
Highlights concrete new sales channels and project pipeline that can drive future transfers and bookings.
Presale with guaranteed returns LPN opened presale for Lumpini Park Bang Wa Interchange, offering a 6% return guarantee for six years and discounts. This targets investors and aims to lock in sales for the 862-unit project, supporting future revenue.
A specific sales event that could boost bookings and cash flow, directly affecting LPN's outlook.
Weak low-rise market and floods Tris Rating says Bangkok floods are worsening an already weak housing market. Low-rise sales fell 16% in the first half, which could slow LPN's inventory clearance and cash collection, though LPN's exposure is moderate.
Provides the main counterweight: a real risk that could pressure LPN's sales and transfers.