It has bellied up to the negotiating table with PTT Plc, Thai Petrochemical Industry Plc, Cementhai Chemicals Co Ltd, Vinythai Plc, HMC Polymers Co Ltd and BPE Co Ltd.

Wyncoast expects that its new transportation firm will generate Bt200 million in annual revenue mainly by providing rail services between the estate and Laem Chabang Port, according to Chinnicha Wongsawat, the company's chief strategy officer.

"We expect to complete negotiations before November this year when we start operating our logistics service," Chinnicha said.

"We set up this route because it has potential to generate income for the company. We did not use our political connections to set up the business. Any other logistics firms that feel ready to invest in this location are welcome to compete with us."

The company has set aside Bt350 million to purchase two new trains for the route.

 To fund the purchase and drum up some working capital, the company hopes to raise Bt140 million on the Stock Exchange of Thailand (SET) by selling new two new shares to every five that its existing shareholders own.

The company will borrow another Bt262 million from banks.

Last year Yaowapa took over LCD-screen-makerCapetronic International (Thailand) Plc, a listed company under rehabilitation in 2003.

She renamed the company Wyncoast Industrial Park Plc and changed its focus to involvement in property, in particular industrial estates, and eventually in transportation and logistics.

Her first move was to change the LCD production plant and its land in Bang Pakong in Chachoengsao province into an industrial park, which helped Wyncoast generate Bt82.6 million in revenue in 2005 and a net profit of Bt18.9 million.

Phatrlap Davivongsa Na Ayudhya, the company's chief executive and managing director, said this was the first investment for the company since it exited the SET's rehabilitation sector in the first quarter of this year.

"We are also looking into expanding our investment in logistics and expect to be a leader in the field within the next five years," he said.

The company anticipates revenue of Bt100 million this year. Its Bang Pakong industrial park should account for Bt80 million in revenue and its transportation service Bt20 million, despite it starting operations sometime in November, he said.

He added that the company hoped to expand its logistics business to others locations, in particular Suvarnbhumi International Airport, due to open this year.

The Thaksin-led government has said in the past that it wanted to spend Bt500 billion to improve the country's logistics in an effort to improve industrial efficiency and reduce costs for the country's manufacturers and traders.

"The government has put a huge focus on this and we want to be a part of this sector," the chief executive said.

However, if the another party takes the helm from Thai Rak Thai, it would not effect the company's business, he surmised, adding that logistics would be a priority for any party because better logistics will reduce energy and fuel consumption.

Somluck Srimalee

The Nation