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However, the amount of 1.2 billion baht from the capital increase did not strengthen NOK at all. Moreover, problems between the artist CEO and pilots also occurred, and critically caused the business to be even worse. The consequence from these problems caused customers to face with delayed flights, engine troubles etc., which created dissatisfaction and disbelief. Nok Air became the customers’ last resort.
In addition for the third quarter of 2020, the company recorded THB 15,219 million in total revenues from low-rise products and condominiums (100% JV) as well as other businesses, an increase of 140% on the same period of 2019 when its revenues totaled THB 6,353 million. Net profit for the quarter stood at THB 1,451 million, up 135% on the third quarter of 2019 when THB 618 million of net profit was posted.
In 2020, ORI has improved its operations to match the situation with proactive marketing strategies, online platforms, driving presale and transferred activities. ORI also focused on the Ready to Move project and Inventory for sale with several campaigns, such as the Keep Your Distance campaign, allowing buyers to stay free for up to 3 years, helping to reduce the burden of buyers in the COVID-19 situation.
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