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Thai WHA Corp eyes two businesses in Việt Nam

Update: December, 01/2020 - 15:35

 

A solar farm in Ninh Thuận. Thai logistic firm WHA Corporation (WHA) is planning to acquire a solar farm and a tap water business in Việt Nam. — VNS Photo

BANGKOK — Logistics giant WHA Corporation (WHA) is planning to acquire a solar farm and a tap water business in Vietnam next year once the Thai government eases travel restrictions.

WHA chief executive officer Jareeporn Jarukornsakul said the two planned Việt Nam acquisitions along with WHA’s Thai digital platform business will help the company generate revenue next year.

The company will postpone investment in land for factories and warehouses this year because land use has not increased, said Jareeporn, adding that WHA will announce its operating plan at the beginning of next year. Company profit this year was lower than in 2019 since land deals in Thailand and Việt Nam are expected to drop to 600-700 rai (960,000-1.12 million square metres) from the targeted 900 rai due to the Covid-19 lockdowns, she said.

"Meanwhile, we are waiting to find out whether the company can lease about 200,000 square metres of land this year or not," she said, adding that it had already leased 100,000 sqm this year.

However, she said this was not a concern as the company was able to diversify risks, while expecting to realise gains from sales of assets to WHA Premium Growth Real Estate Investment Trust (WHART) and Hemraj Leasehold Real Estate Investment Trust (HREIT) of Bt4.6 billion this year.

She added Goertek Precision Industry Vietnam (Goertek Vina) had bought 253 rai in WHA Industrial Zone 1-Nghe An, to be transferred by the end of this year.

"The company plans to develop this industrial zone to attract more investors," she added.The Nation/ANN

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