Well the body looks like a single piece of wood, so that's good. I'm going to assume the electronics/pickups aren't top notch. Dunno about the neck, though I'd honestly want an all-maple neck.
I guess it all depends on how you build it. If you get the body and neck lined up nice, then get new pickups and guts for it you'll have something probably the quality of an American standard.
I'm also going to assume the tremolo is junk. Put the guitar together right with all the parts you have and if it works out great, switch out the trem, electronics, pickups, nut and tuners and it'll be a good player I imagine.
I just went and looked up RAS. It's a distributor and your kit was like $120, so that means it's a hodge-podge of Chinese and S/E Asian parts assumedly. Don't expect to get a Custom Shop Strat out of it.