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Land and Houses vs Origin Property PCL: why the prices moved differently

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

Land and Houses Public Company Limited (LH.BK)

Q3 2026
▲2▼2

LH's weak core housing drags profit to 20-year low, but asset sales and new CEO offer recovery

  • Q2 profit collapses on weak housing demand LH's Q2 2026 net profit fell 61.8% to 525.67 million baht, the lowest in almost 20 years, as sales revenue dropped 41.1% on weak housing demand and high household debt. This weak core business is the main reason the share price has fallen to around 3.70 baht from 9.90 baht in 2022.

    It is the single biggest negative force on LH's price and explains why the stock is near multi-year lows.

  • New CEO and asset sales point to recovery LH appointed Archawin Assavabhokhin as CEO from January 2027, which analysts see as positive for strategy and management. Recovery is expected from Q4 2026, driven by transfers of the One Bangkok Chao Phraya condominium (57% sold), the Grand Centre Point hotel opening, and asset sales in Thailand and the US.

    It is the main positive catalyst that could reverse the earnings slump and support a share price re-rating.

  • TRIS affirms A rating and new 6bn baht bonds TRIS Rating affirmed LH at A with a Stable outlook and rated its new 6 billion baht bond issue at A. The proceeds will repay debt and fund working capital. TRIS expects revenue to recover to 23-26 billion baht per year and debt-to-equity to fall to 50-55%, easing financial risk.

    It shows LH can still raise money cheaply and reduce debt, a key support for the share price while earnings are weak.

  • Index removals and earnings downgrades weigh on the stock LH is expected to be removed from the SET50 index with 99.99% confidence and from the FTSE Mid Cap group, which can force index-tracking funds to sell. Analysts also cut LH's September earnings estimate by 1%, reflecting the property sector's divergence from energy-led market gains.

    These events create selling pressure and weaker sentiment, directly pushing the share price down in the near term.

August 2026
▲2▼2

LH's weak core housing drags profit to 20-year low, but asset sales and new CEO offer recovery

  • Q2 profit collapses on weak housing demand LH's Q2 2026 net profit fell 61.8% to 525.67 million baht, the lowest in almost 20 years, as sales revenue dropped 41.1% on weak housing demand and high household debt. This weak core business is the main reason the share price has fallen to around 3.70 baht from 9.90 baht in 2022.

    It is the single biggest negative force on LH's price and explains why the stock is near multi-year lows.

  • New CEO and asset sales point to recovery LH appointed Archawin Assavabhokhin as CEO from January 2027, which analysts see as positive for strategy and management. Recovery is expected from Q4 2026, driven by transfers of the One Bangkok Chao Phraya condominium (57% sold), the Grand Centre Point hotel opening, and asset sales in Thailand and the US.

    It is the main positive catalyst that could reverse the earnings slump and support a share price re-rating.

  • TRIS affirms A rating and new 6bn baht bonds TRIS Rating affirmed LH at A with a Stable outlook and rated its new 6 billion baht bond issue at A. The proceeds will repay debt and fund working capital. TRIS expects revenue to recover to 23-26 billion baht per year and debt-to-equity to fall to 50-55%, easing financial risk.

    It shows LH can still raise money cheaply and reduce debt, a key support for the share price while earnings are weak.

  • Index removals and earnings downgrades weigh on the stock LH is expected to be removed from the SET50 index with 99.99% confidence and from the FTSE Mid Cap group, which can force index-tracking funds to sell. Analysts also cut LH's September earnings estimate by 1%, reflecting the property sector's divergence from energy-led market gains.

    These events create selling pressure and weaker sentiment, directly pushing the share price down in the near term.

Latest
▲2▼2

LH's weak core housing drags profit to 20-year low, but asset sales and new CEO offer recovery

  • Q2 profit collapses on weak housing demand LH's Q2 2026 net profit fell 61.8% to 525.67 million baht, the lowest in almost 20 years, as sales revenue dropped 41.1% on weak housing demand and high household debt. This weak core business is the main reason the share price has fallen to around 3.70 baht from 9.90 baht in 2022.

    It is the single biggest negative force on LH's price and explains why the stock is near multi-year lows.

  • New CEO and asset sales point to recovery LH appointed Archawin Assavabhokhin as CEO from January 2027, which analysts see as positive for strategy and management. Recovery is expected from Q4 2026, driven by transfers of the One Bangkok Chao Phraya condominium (57% sold), the Grand Centre Point hotel opening, and asset sales in Thailand and the US.

    It is the main positive catalyst that could reverse the earnings slump and support a share price re-rating.

  • TRIS affirms A rating and new 6bn baht bonds TRIS Rating affirmed LH at A with a Stable outlook and rated its new 6 billion baht bond issue at A. The proceeds will repay debt and fund working capital. TRIS expects revenue to recover to 23-26 billion baht per year and debt-to-equity to fall to 50-55%, easing financial risk.

    It shows LH can still raise money cheaply and reduce debt, a key support for the share price while earnings are weak.

  • Index removals and earnings downgrades weigh on the stock LH is expected to be removed from the SET50 index with 99.99% confidence and from the FTSE Mid Cap group, which can force index-tracking funds to sell. Analysts also cut LH's September earnings estimate by 1%, reflecting the property sector's divergence from energy-led market gains.

    These events create selling pressure and weaker sentiment, directly pushing the share price down in the near term.

Origin Property PCL (ORI.BK)

Q3 2026
▲3▼1

ORI sells hotels, raises cash, but weak demand and high loan rejections weigh

  • Hotel sales and asset recycling boost cash ORI closed the sale of Staybridge Suites Sukhumvit for over 550 million baht, following the ibis Phuket Kata sale. This Build-Operate-Exit-Reinvest strategy brings in cash to fund new projects and repay debt, supporting the share price by showing the company can generate liquidity from its assets.

    This is a major new event that directly improves ORI's cash position and validates its business model.

  • New bond issues and debt repayment strengthen finances ORI raised 800 million baht from new bonds and fully repaid 714.7 million baht of maturing bonds. Successful fundraising and timely repayment show bondholders still trust the company, easing worries about its debt load and supporting the stock.

    These are fresh capital market actions that demonstrate financial health and access to funding.

  • Phuket expansion and 2028 profit target ORI plans to grow its Phuket portfolio to 30 billion baht by 2028 and targets net profit of 1.43 billion baht in 2028, up 42.6%. New projects and hotel developments in Phuket, plus a clear three-year plan, give investors a growth story beyond the current weak market.

    This is a new strategic plan that outlines future growth and could lift investor expectations.

  • Weak housing demand and high loan rejections pressure sales Brokers cut ORI's profit forecasts due to weak housing demand and mortgage rejection rates above 40%. KGI rates ORI a Sell, and Tris warns floods worsen the property slump. ORI is pushing online sales and discounts to clear inventory, but the tough market remains a drag on the stock.

    This is the main negative force, with multiple new reports highlighting demand weakness and its impact on ORI.

September 2026
▲3▼1

ORI sells hotels, raises cash, but weak demand and high loan rejections weigh

  • Hotel sales and asset recycling boost cash ORI closed the sale of Staybridge Suites Sukhumvit for over 550 million baht, following the ibis Phuket Kata sale. This Build-Operate-Exit-Reinvest strategy brings in cash to fund new projects and repay debt, supporting the share price by showing the company can generate liquidity from its assets.

    This is a major new event that directly improves ORI's cash position and validates its business model.

  • New bond issues and debt repayment strengthen finances ORI raised 800 million baht from new bonds and fully repaid 714.7 million baht of maturing bonds. Successful fundraising and timely repayment show bondholders still trust the company, easing worries about its debt load and supporting the stock.

    These are fresh capital market actions that demonstrate financial health and access to funding.

  • Phuket expansion and 2028 profit target ORI plans to grow its Phuket portfolio to 30 billion baht by 2028 and targets net profit of 1.43 billion baht in 2028, up 42.6%. New projects and hotel developments in Phuket, plus a clear three-year plan, give investors a growth story beyond the current weak market.

    This is a new strategic plan that outlines future growth and could lift investor expectations.

  • Weak housing demand and high loan rejections pressure sales Brokers cut ORI's profit forecasts due to weak housing demand and mortgage rejection rates above 40%. KGI rates ORI a Sell, and Tris warns floods worsen the property slump. ORI is pushing online sales and discounts to clear inventory, but the tough market remains a drag on the stock.

    This is the main negative force, with multiple new reports highlighting demand weakness and its impact on ORI.

Latest
▲3▼1

ORI sells hotels, raises cash, but weak demand and high loan rejections weigh

  • Hotel sales and asset recycling boost cash ORI closed the sale of Staybridge Suites Sukhumvit for over 550 million baht, following the ibis Phuket Kata sale. This Build-Operate-Exit-Reinvest strategy brings in cash to fund new projects and repay debt, supporting the share price by showing the company can generate liquidity from its assets.

    This is a major new event that directly improves ORI's cash position and validates its business model.

  • New bond issues and debt repayment strengthen finances ORI raised 800 million baht from new bonds and fully repaid 714.7 million baht of maturing bonds. Successful fundraising and timely repayment show bondholders still trust the company, easing worries about its debt load and supporting the stock.

    These are fresh capital market actions that demonstrate financial health and access to funding.

  • Phuket expansion and 2028 profit target ORI plans to grow its Phuket portfolio to 30 billion baht by 2028 and targets net profit of 1.43 billion baht in 2028, up 42.6%. New projects and hotel developments in Phuket, plus a clear three-year plan, give investors a growth story beyond the current weak market.

    This is a new strategic plan that outlines future growth and could lift investor expectations.

  • Weak housing demand and high loan rejections pressure sales Brokers cut ORI's profit forecasts due to weak housing demand and mortgage rejection rates above 40%. KGI rates ORI a Sell, and Tris warns floods worsen the property slump. ORI is pushing online sales and discounts to clear inventory, but the tough market remains a drag on the stock.

    This is the main negative force, with multiple new reports highlighting demand weakness and its impact on ORI.