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Top Thai warehouse developer WHA Corp expects record revenue this year

BANGKOK : Thailand's largest warehouse and logistics firm WHA Corporation Pcl is expecting revenue to reach an all-time high this year on the back of an e-commerce boom brought on by the pandemic, its top executive said on Tuesday.

"There was strong demand for distribution centres for consumer goods and electronics from the rise of e-commerce," chief executive Jareeporn Jarukornsakul, told reporters.

The company is on track to end the year with record revenue, up 30per cent from last year, she said. In 2020 WHA Corp booked 9.4 billion baht (US$285.63 million) in revenue.

Logistics is forecast to make up 46per cent of its revenue this year, up from about a quarter in 2020. In comparison, the industrial estate segment is expected to account for 27per cent of its revenue, down from 47per cent in 2020.

Balancing the business portfolio had minimised the impact of the coronavirus, she said.

The company was delaying some investments to 2022 and expects full-year capital expenditure of 6.1 billion baht, from a target of 9 billion baht.

In addition to industrial estates and logistics, WHA Corp is launching office space as an additional segment with six locations mostly in Bangkok, Jareeporn said.

"Working from home is only suitable for certain situations, but it could lead to decline in efficiency," she added.

(US$1 = 32.9100 baht)

(Reporting by Chayut Setboonsarng; Editing by Martin Petty)

Source: Reuters

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