WHA seeks space for Bt4.8-billion warehouse centre

WHA Corporation is looking for a location in Greater Bangkok to build a Bt4.8-billion warehouse and distribution centre with more than 300,000 square metres of space to support global firms with businesses in Thailand.

"We have to expand when we see strong demand, especially from foreign investors boosting their presence in Thailand to be their base in Southeast Asia after the Asean Economic Community crystallises in 2015," Somyos Anantaprayoon, chairman and chief executive officer, said in a press release yesterday.

Its targets include Lat Krabang, Bang Na-Trat, Kabinburi, Wang Noi in Ayutthaya, Saraburi and Chon Buri, he said.

Project financing will come from the company's internal cash flow and proceeds from listing its Bt2.08-billion WHA Property Fund on the Stock Exchange of Thailand. Yesterday was the fund's trading debut.

WHA Group is also known as a leading developer of world-class, built-to-suit factories.

Its customers include DKSH (Thailand), Kao (Thailand), Johnson & Johnson, Unilever (Thailand), DSG International (Thailand), BJC, Chanel (Thailand), Central Retail Corp, Minor Group, Kuehne & Nagel, Kerry Logistic (Thailand), LF Logistics, Hitachi Transport System (Thailand), APL Logistics (Thailand), Mazda Sales (Thailand), Primus International Bangkok, Ducati (Thailand) and Dana.

The company plans to go on a roadshow to Hong Kong from January 23-24 and to Singapore from March 4-6.

"We target growth of at least 30 per cent this year," Somyos said.

In the first nine months of last year, its net profit was up 233 per cent to Bt348.79 million from Bt104.46 million in the same period of the previous year, partly on extraordinary income from the sale of assets.