MJD plans more new rental projects | Bangkok Post: business

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MJD plans more new rental projects

New SET rules govern revenue recognition

The SET-listed Major Development Plc (MJD) will build more rental properties next year after a new accounting standard by the Stock Exchange of Thailand regarding revenue recognition stands to affect its performance.

"We should have recurring revenue to recognise in order to have stable earnings each year," said the company's chief executive Suriyon Poolvoralaks.

The SET's new accounting standard calls for revenue to be recognised only from project sales via ownership rights transfer.

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