Amata Corporation Plc, an SET-listed industrial estate developer, is mulling expansion into Cambodia, Laos and Myanmar to tap growing demand for industrial land.
Steven Siew, senior vice-president for accounting and finance, said the company is conducting feasibility studies of new projects in other Asean countries after the success of its business in Vietnam the last two decades.
"We may look for strategic partners if the feasibility study finds investment is viable," he told a briefing at the SET in the City investment fair yesterday.
In addition to industrial estates, Amata will also look to invest in utility services in these countries, he said.
In Thailand, the ongoing political conflicts have not negatively affected foreign investor confidence, particularly among Japanese investors, who are the largest foreign investors here and the major customers of Amata, said Mr Siew.
"Most foreign investors told us they're still committed with long-term investments in Thailand. In fact, they are more worried about floods than the political situation," he said.
"They are confident the situation will stabilise soon."
Last month, Amata Nakorn Industrial Estate in Chon Buri was hit by floods, forcing some companies to shut down operations for a few days when workers could not enter the factory.
Amata recently finished a 100-million-baht flood prevention system and ensured its clients they can resume normal operations.
The company maintained its land sales target of 3,000 rai this year, although only 1,279 rai were transferred during the first nine months.
"We've sealed a number of land sales contracts in this last quarter to date. We believe our annual target is still achievable, although we might miss it by 10%," said Mr Siew.
Some 64% of total land sales in the first nine months were from existing clients expanding factories.
Amata is reviewing its land sales target for next year. The figure could be finalised next month, he said.
"We think the sales growth of industrial estate land next year should be similar to this year, as Thailand has strong potential for investors in the sectors of utilities, industrial land and facilities," said Mr Siew.
He said Amata has an available land bank of 30,000 rai, ample for development over several years.
Shares of AMATA closed yesterday on the SET at 15.80 baht, down 30 satang, in trade worth 168 million baht.