AP (Thailand) Public Company Limited was established in 1991 to develop residential projects in Bangkok Metropolitan Area (BMA) by Mr. Anuphong Assavabhokhin and Mr. Pichet Vipavasuphakorn as major shareholders. In 2000, the company did a backdoor listing thru PCM Public Company Limited (PCM), a listed company in the Stock Exchange of Thailand since 18 January 1994, and changed its name to "Asian Property Development Public Company Limited (AP)". Prior to the merger, PCM, a precast concrete floor manufacturer, was mainly owned by Land and Houses Plc. (LH).
Since the merger between Asian Property and PCM on 23 November 2000, Asian Property Development set a new company, called PCM Construction Material Company Limited (PCMC), 100% owned, manufacturing precast concrete floors.