AQUA secures 7-year warehouse contract with Unilever
Two AQUA subsidiaries sign lucrative long-term warehouse rental deals expected to generate almost 2 billion baht over the next decade
Aqua Corporation Plc (AQUA) announced on Monday that its subsidiary Thai Consumer Distribution Centre (TCDC) has signed a contract to rent out its warehouses to Unilever Group, a leader in the fast-moving consumer goods industry, for a period of seven years.
The deal is expected to generate an income for the company of around 1.67 billion baht, and increase its cash flow by some 1.47 billion baht, acting CEO of AQUA Shine Bunnag said.
Shine is also the chief executive officer of Nation Group.
Meanwhile, Accomplish Way Holdings, another subsidiary of AQUA in the warehouse business, has secured two long-term warehouse rental contracts for periods of 5 and 9 years. These contracts are expected to help increase the company’s revenue by 32% or 278.6 million baht, said Shine.
“AQUA is committed to strengthening its foundation by focusing on ‘cash cow’ businesses that can generate income in the long term,” he said. “We have invested in property, power plant and warehouse rental businesses to diversify our portfolio, secure sustainable income and minimise the risks.”
The acting CEO added that AQUA is also looking to expand into more businesses in the future, including foods, technology, energy and product transport.
“We expect to hold a press event in the third quarter this year to unveil business and investment plans to interested investors and partners,” said Shine.
AQUA currently holds stakes in eight companies in the property, packaging, renewable energy, Fintech, and logistics businesses.
