Thailand’s industrial park giant gears up for ASEAN ‘golden era’

The strategic business plan, unveiled by CEO Jareeporn Jarukornsakul on Wednesday, aims to capitalise on global companies’ increasing interest in Southeast Asia investments.

 
Optimistic outlook for ASEAN investment

"ASEAN will experience a golden era in the next 1-2 years, with investments from China, Taiwan, and the United States in the EV, semiconductor, PCB, and supply chain industries," Jareeporn said.  

This optimistic outlook has prompted WHA to revise its land sales target this year upwards from 2,275 rai (364 hectares) to 2,500 rai.

Jeeraporn noted a "strong trend" of multinationals relocating their production bases to Southeast Asia, driven by the need to diversify their supply chains and leverage the region's growing economic potential.
 

Major deals and ongoing negotiations

Jareeporn said the company has signed a deal with a US technology firm covering more than 400 rai of land, with the outcome of negotiations for another 600 rai expected in October.

WHA aims to close deals on 1,000 rai by the end of the year, focusing on investors looking to relocate to the Thailand-Vietnam corridor.

Thailand's competitive edge

Jareeporn was upbeat on Thailand's prospects of attracting investment despite increasing regional competition. She said five factors continue to attract foreign investors to Thailand:

• Established supply chains and ecosystems
• A highly skilled workforce, government support for infrastructure development
• Investment incentives
• And a strong domestic market

She noted that Chinese electric vehicle (EV) companies have started using Thailand as a production base for left-hand drive cars, aiming to keep production costs competitive.
 

Call for government action

However, the WHA CEO urged the new Thai government to conduct investment roadshows and develop more investment areas outside the Eastern Economic Corridor (EEC).
 

She highlighted the potential of the Southern Economic Corridor and the Land Bridge project to connect the Gulf of Thailand with the Indian Ocean as a new trade route.

The company outlined plans across five key business areas:
1. Industrial estates: WHA increased its land sales target to 2,500 rai for 2024, with plans to add nearly 10,000 rai of industrial land to its portfolio over the next four years. This expansion includes the development of six new industrial estates – four new projects and two expansions.
2. Logistics: WHA is also aiming for international expansion, focused on Vietnam. To attract industries with strong growth potential, the company has launched Mobilix, Thailand's first complete green logistics solution including electric vehicle rentals, charging stations, and software solutions.
3. Utilities (water): WHA aims to seek investment opportunities beyond its industrial estates, expand its value-added water products, and develop new environmentally friendly solutions. It also plans to invest in new water production and wastewater treatment plants in Vietnam.
4. Electrical: The group is committed to clean energy solutions, aiming to increase its cumulative power capacity to 1,000 megawatts. Of this, 472 megawatts will come from clean energy sources, including 283 megawatts from solar rooftops.
5. Digital: WHA is undergoing digital transformation, aiming to become a fully-fledged technology company by 2024 and a technology-driven organisation by 2025. Key projects include the Mobilix Software Solution for managing electric vehicles and batteries, WHAbit for integrated health services, and WHASApp, a super app for WHA customers.

 
Financial projections and sustainability goals

WHA Group expects its total income and profit share to exceed 15 billion baht in the second half of this year, with an EBITDA margin higher than 50%.

Jareeporn also highlighted WHA's commitment to sustainability, announcing the company's goal to become a sustainable tech company.