The Year 2016 has been one of the most remarkable years of WHA Corporation Public Company Limited (“the Company’) evidenced from the sustainable growth of revenue and net profit of the Company including the completion of loan repayment to financial institutions used for the acquisition of Hemaraj Land and Development Public Company Limited (“Hemaraj”) during the period of 2015 until the beginning of 2016. The Company has been in continuous business growth and overcome all challenges amid the lack of consumers’ confidence, the rising household debt, the fluctuation in oil price, interest rate and foreign exchange rate of US Dollar currency against Thai Baht, the BREXIT impacts, the terrorist attacks in Europe and the US president election.
Our successful acquisition of Hemaraj and delisting of Hemaraj from the Stock Exchange of Thailand (“SET”) on 2 March 2016 is one of the most critical milestones of the Company to further grow business in which the Company is able to expand in vertical integration. The Company can provide more diverse and comprehensive services to the customers under the concept of one-stop service for industrial estate development, industrial and logistics rental properties for rent as well as other complimentary infrastructure i.e. water utilities for the industrial estate customers and solar rooftop service and other renewable energy in accordance with the government’s policies.
After the consolidation of the Company and Hemaraj, the Company has reorganized the Group business structure, organization structure, management team, as well as human resources development to be well-equipped with the future growth in all 4 business hubs: Industrial Development Hub, Logistics Hub, Utilities & Power Hub and Digital Platform Hub. Moreover, the Company has planned to list WHA Utilities and Power Public Company Limited (“WHAUP”) in the SET in 2017 to support continuous growth of Utilities & Power Hub which generates recurring income. In addition, the Company has set the 5-year business plan as well as announcement of new branding and logo to represent the Group synergy of 4 business hubs under the new slogan “Your Ultimate Solution Partner” in providing fully integrated services to meet both leading domestic and foreign customers’ requirements. Moreover, the Company aims to be the leader of 4 business hubs and ready to respond the 12th National Economic and Social Development Plan, especially the Eastern Economic Corridor (“ECC”) project including to correspond with the official inauguration of the ASEAN Economic Community (“AEC”) and expand the comprehensive services to other ASEAN countries such as Indonesia and Vietnam.
Despite the tremendous growth, the Company also emphasizes on the financial discipline which includes how to optimize the capital structure, maintain the debt to equity ratio, reduce the financial cost and best utilized the financial engineering to enhance the value for the asset of the Company. The Company has monetized the assets in the optimal time and use the proceeds to repay loans from financial institutions in order to lower the financial cost and use for the capital expenditure and working capital. The Company believes that the reduction on financial cost will give rise the benefit to the shareholders, suppliers, financial institutions and other stakeholders.
On behalf of the Chairman and the Board of Directors, I would like to extend my gratitude to all our shareholders, business partners, financial institutions, stakeholders as well as the Board of Directors, management team and employees who have always trust and dedication to ensure the continued growth and success. The Company is ready to grow sustainably in pursuit of our business slogan, “Your Ultimate Solution Partner”.
Dr. Somyos Anantaprayoon
Chairman of the Board of Directors
WHA Corporation Public Company Limited