Stella X Public Company Limited is a Thai property developer operating through three segments: Property Development, Rental and Service, and Medical and Health. It develops and sells land, houses, and residential condominium units, and also operates a golf course and hotel, invests in the hospital business, distributes medical and healthcare products, leases space and properties, runs a travel agency, conducts medical and technological business, provides financial services, and constructs residential buildings. The company was formerly known as Nusasiri Public Company Limited and changed its name to Stella X Public Company Limited in December 2024. Founded in 1960, it is based in Bangkok, Thailand.
STELLA turns its first profit in 10 years after selling Legend Siam for 2.45 billion baht
Stella X Public Company Limited, or STELLA, has announced a major turnaround, with its second-quarter 2026 results returning to a net profit for the first time in 10 years. Kan Danai Phuwasawat, Deputy Chief Executive Officer, said the profit came from the sale of the Legend Siam project asset, valued at 2.45 billion baht, along with the successful unlocking of its debt burden under plan, leaving the company with a stronger financial structure and the liquidity to press ahead at full strength in the real estate business. Meanwhile, Chayo Group Public Company Limited, or CHAYO, is targeting net profit attributable to the parent company of no less than 300 million baht and continued growth of 20% a year, from assets under management currently standing at around 100 billion baht. Krungthai Card Public Company Limited, or KTC, is confident that credit card spending and lending in the second half of 2026 will grow in line with its targets, focusing on customers earning 50,000 baht or more and on first jobbers among the younger generation. WP Energy Public Company Limited, or WP, has signalled continued business growth in the second half under its JUMP+ plan, aiming to upgrade its liquefied petroleum gas, or LPG, business. And Meesuk Solutions Public Company Limited, or HAPPY26, a developer of ready-built warehouses and factories, begins trading on LiVEx on 23 September 2026.
STELLA.BK · Capital · Positive STELLA returned to net profit for the first time in 10 years, driven by the 2.45 billion baht sale of the Legend Siam asset and debt restructuring.
KTC.BK · Demand · Positive KTC is confident credit card spending and lending in H2 2026 will grow in line with targets, focusing on higher-income customers and young first jobbers.
WP.BK · Demand · Positive WP Energy signalled continued business growth in H2 under its JUMP+ plan, aiming to upgrade its LPG business.
Meesuk Solutions PCL · · Neutral Meesuk Solutions (HAPPY26) is only noted as beginning trading on LiVEx on 23 September 2026, with no operational development.
STELLA swings to first profit in 10 years at 57 million baht
Stella X Public Company Limited, or STELLA, announced second-quarter 2026 results, swinging to a net profit of 57 million baht for the first time in 10 years, driven by the sale of assets in the Legend Siam project worth 2.45 billion baht. The company also successfully unlocked its debt obligations as planned, resulting in a stronger financial structure and liquidity ready to move forward with its real estate business at full speed. Most recently, its flagship project Nova Westgate, with a project value of over 600 million baht, achieved success during its VVIP Day, closing phase 1 sales with total bookings exceeding 100 million baht, reflecting confidence from real demand buyers and investors. The company is preparing to hold a pre-sale event on 22–23 August 2026, officially launching a new home series and luxury clubhouse.
KPM Securities closes sale of STELLA-RML debentures totalling 767.40 million baht
KPM Securities, as the debenture distribution manager for Stella X Public Company Limited and Raimon Land Public Company Limited, has closed the sale of debentures for both companies across three series, totalling 767.40 million baht. These comprise STELLA debentures series 2/2026, RML debentures series 2/2026, and RML debentures series 3/2026, which were offered to institutional and high-net-worth investors continuously from June to August 2026. Ms. Onanong Intraprasit, Chief Executive Officer of KPM Securities, disclosed that closing the sale on target reflects investor confidence in the potential of the issuers and KPM Securities' product selection process. During the same period, RML redeemed 607.35 million baht of existing debentures, and STELLA redeemed 265.30 million baht, bringing total redeemed debentures to 872.65 million baht, demonstrating the strong financial discipline and liquidity of both companies.
WEH explains 2.45 billion baht purchase of Nusa Legend Siam, cites high IRR but dodges shareholder questions
Wind Energy Holding, or WEH, explained at an extraordinary general meeting on 27 July that its acquisition of the Nusa Legend Siam project from the STELLA group for 2.45 billion baht is justified. The price falls within the SEC's valuation range of 2.427 to 2.47 billion baht and is below the seller's original investment cost of 4 to 5 billion baht. The company plans to develop a mixed-use project on 184 rai of land in the Eastern Economic Corridor, projecting a 14 percent project return and an equity return as high as 21 percent. However, STELLA had previously informed the stock exchange that it tried to sell the asset at an initial price of 3.2 billion baht, gradually reducing it to 2.5 billion baht, but found no buyer. WEH management also stated that the purchase agreement was signed on 12 June 2026, before shareholders requested the meeting, claiming that approval authority rests with the board under the company's articles of association. It acknowledged that a first payment of 1.225 billion baht was made before the transfer of ownership, but considers the risk acceptable. In addition, WEH will receive a loan repayment of 830 million baht from STELLA, bringing the net cash outlay to approximately 1.62 billion baht. Shareholders questioned the financial management plan if the project continues to incur losses, the future use of funds, and why a wind energy company is deploying its massive cash reserves into high-risk real estate, but management chose not to answer these questions during the online meeting.
Wind Energy Holding · Capital · Negative WEH's acquisition is questioned by shareholders as high-risk real estate investment using cash reserves, with management dodging questions.
STELLA.BK · Capital · Negative STELLA sold the asset at a loss after failing to find a buyer at higher prices, indicating poor asset value.
Thailand