Economy June 25, 2014 00:00

By The Nation

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WHA board approves setup of new REIT, sale of property fund

WHA Corporation’s board of directors yesterday approved the establishment of WHA Premium Growth Real Estate Investment Trust valued at Bt4.5 billion.
The REIT is expected to be set up no later than the fourth quarter of this year, WHA reported to the Stock Exchange of Thailand.
The company, which provides built-to-suit warehouses, distribution centres and factories, will sell three assets into the REIT and will subscribe for units from it in the amount of about Bt511 million. 
The board also approved the sale of the WHA Premium Factory and Warehouse Freehold and Leasehold Property Fund at the price of Bt17.53 million.
WHA’s board also approved the purchase of assets in the Equinox Office Tower project from companies in the Major Development group at the price of Bt2.05 billion. According to WHA, these assets are expected to generate income and growth opportunities for the company.
Funds for this asset purchase are the proceeds from the bonds issued pursuant to the resolution of the 2014 annual general meeting.
Solar plant invests for rise in capacity 
Solartron, a listed solar-farm company, has invested between Bt500 million and Bt700 million to expand the annual production capacity of its solar-module assembly plant by 120 megawatts from the existing capacity of 70MW to prepare for expected new orders, particularly from Europe.
Patama Wongtoythong, chairman of the executive board, said the source of funds was bank loans. The expansion of production capacity is meant to increase productivity of solar cells and modules as well as reduce costs. The plant is in Pak Chong, Nakhon Ratchasima province. 
The company expects annual revenue this year will reach Bt2 billion, up by 30 per cent from last year’s Bt1.38 billion year.
Solartron has a backlog worth Bt2 billion, which will generate revenue over the next two years.
“We are in talks with new clients, causing us to decide to increase production capacity by 120MW per annum to cope with the expected new orders,” Patama said.
SF World Cinema promises luxury
CentralWorld’s newly renovated SF World Cinema hopes to attract more families and career-oriented people, says SF Corporation’s chief marketing officer, Suvannee Chinchiewchan.
The “MasterCard Cinema” has 772 business and balcony seats, she said.
This was the first sponsorship deal for the cinema, and the former World Max Screen theatre was renovated for this purpose.
Its screen is 21.09 metres long and 8.7 metres wide, one of the largest in the country, Suvannee said.  
With its new sponsorship and “Grace of Monaco” as the cinema’s opening film, it guarantees customers comfort and luxury.
A ticket for business seat costs Bt180, and Bt240 for balcony seats, including beverages and popcorn.