WHA eyes digital future on posting strong results

WHA eyes digital future on posting strong results

WHA Group is confident about its future prospects after the country's largest developer of built-to-suit logistics facilities announced a second-quarter net profit of around 260 million baht and pivoted its focus to digital technology.

The company also recorded what it described as total revenue and share of profits of 1.87 billion baht, an increase of 33.3% from the previous quarter.

Jareeporn Jarukornsakul, WHA chairwoman and chief executive, said she was "confident of the robustness" of the company's core businesses despite the new wave of Covid-19 infections.

Logistics has been in high demand during the pandemic while foreign investors continue to relocate to Thailand and Vietnam.

Ms Jareeporn said the logistics business grew in line with demand for premium distribution centres and high-quality warehouses from e-commerce and consumer sectors which have expanded continuously since last year.

The pandemic has encouraged WHA to adopt digital technologies, both for its operations and product and service offerings to customers.

The company is in discussions with start-ups in the logistics sector and is expected to finalise deals by the end of this year, said Ms Jareeporn.

In the industrial estate segment WHA recorded total land sales of 274 rai (241 rai in Thailand and 33 rai in Vietnam) during the first six months of this year.

In the second quarter, its revenue in this segment rose to 537.7 million baht, compared with 154.1 million baht in the first quarter. The growth was in line with Thailand's improving investment and export conditions, said Ms Jareeporn.

The company and its partners plan to launch digital healthcare services to customers and workers in its industrial estates through telemedicine, artificial intelligence, and blockchain technology.

In the utilities segment, total water sales and management in Thailand and Vietnam in the second quarter reached 35.2 million cubic metres.

In the power segment, the company realised a share of normalised operating profit from investment in subsidiaries and joint ventures, which stood at 271.5 million baht in the second quarter.

In this quarter, the company signed a new rooftop solar energy development contract for 1.8 megawatts, bringing total outstanding contracts to 63MW.

The firm said it will continue to expand its solar business to generate electricity for customers at its industrial estates, distribution centres and warehouses, as well as customers outside its industrial estates.

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