Bangkok - WHA Group has continuously been delivering good news following its achievement of a Historic All-Time High Record for its 2022 and 2023 performance. Recently, WHA Group received outstanding demand from institutional investors and high-net-worth investors for its Debenture Issuance No.1/2024, with an offering size of Baht 5,000 million plus a Greenshoe option of Baht 2,000 million (Total offering of Baht 7,000 million). This successful offering demonstrates WHA Group's leadership across its four business hubs, including Logistics, Industrial Estates, Utilities and Power, and Digital Business, both domestically and in Vietnam. It also reflects the solid confidence of investors, reaffirming the company's strong business capabilities, robust financial structure, and definite plans for sustainable business expansion.
Chairman
of the Executive Committee and Group CEO, Ms. Jareeporn Jarukornsakul, is
confident in achieving the business goals set for the year 2024. We are also
committed to innovating business and industrial solutions to strengthen
Thailand’s competitive edge, attract new investments, and create a sustainable
future. Our preeminent duty is to achieve the goal of turning to a technology
company with AI Transformation strategy, aiming at building digital-ready
culture in the organization with a full readiness to embrace digital
transformation, elevate operational excellence with data and artificial
intelligence, maintain our leadership in a rapidly changing business landscape
and advance our digital transformation programs which now account for more than
38 projects.
WHA Group's 4 key
strategies in 2024 consists of Extend Leadership, accelerating continued
business expansion both in the country and regional markets; Embrace
Innovation and Technology, bringing digital technology to create new
S-curve businesses; Enhance the Prominence on Green and Sustainability,
aiming at achieving net zero emissions by 2050; and Build a High-Performance
Organization by enhancing digital technology capabilities.
Ms. Jareeporn
Jarukornsakul, Chairman of the Executive Committee and Group CEO of WHA
Corporation Public Company (WHA Group), reveals that the Company’s
Debenture Issuance No. 1/2024 with an offering size of Baht 5,000 million +
Greenshoe of Baht 2,000 million (Total offering of Baht 7,000 million), offered during 18 – 20 March 20 via
3 underwriters, namely Kasikorn Bank, Siam Commercial Bank
and UOB Bank, has received strong demand from Institutional Investors and HNW
with 3 times oversubscription. There are 3 tranches of debentures: the first
with a 3-year and 6-month term amounting to Baht 2,500 million; the second with
a 5-year term matured in 2028 amounting
to Baht 2,000 million; and the third with a 2-year 7-month and 30-day term (Zero
Coupon Bond) amounting to Baht 2,500 million. WHA Group commits to sustainable
growth in conjunction with environmental and social responsibility to
contribute to the overall sustainable development of the country. With the proceeds
raised from the issuance, the Company shall repay existing debt, and/or utilize
for working capital/capital expenditure to support its business operations.
Tris Rating Co. has
assigned WHA Group’s bond No. 1/2024 an “A-" rating with “Stable” outlook,
as of 6 March 2024. This rating reflects the strong competitive position and
proven track record in built-to-suit warehouses/ factories and industrial
estate development. The ratings also incorporate the sizable base of recurring
income from rental properties, utiliies services, and dividends received from
power plants, as well as financial flexibility from
the ability to monetize its assets to real estate investment trusts (REIT).
Ms. Jareeporn
Jarukornsakul added that
the 2023 performance has set an all-time high record in corporate history. This
underscores the success stemming from its committed leadership across the four
business hubs: logistics, industrial development, utilities and power, and
digital, both in Thailand and Vietnam together with the launch of its strategic
plan for 2024 with the mission of “WE SHAPE THE FUTURE”, aiming at
strengthening and synergizing the capabilities of its 4 business hubs.
Logistics Business – continues to
expand Built-to-Suit Factories and Ready-Built Factories / Warehouses in
Thailand and abroad, focusing on high-growth
industries such as EV, e-Commerce and new S-curve businesses, enhancing
through innovations and technologies and embracing sustainable practices.
This includes the Green Logistics project, where the
company will provide electric vehicles, and develop applications using digital
technology to manage electric vehicles and batteries. This aims to support and
accelerate the use of electric vehicles in the country’s transportation sector, enhancing operational efficiency, reducing logistics costs
in the long term, and taking into consideration the environmental and natural
impact simultaneously.
Office Solutions
Business - continues to offer office building projects in prime locations of Bangkok,
currently accounting for 5 projects with a total area of over 120,000
sq.m. The business unit is also
venturing into new types of commercial property.
Industrial
Development Business - extends leadership in Thailand and broadens national presence in
Vietnam, while enlarging its product to accommodate continuous investment and
production base relocation. In addition, the company will continue to further
develop the Smart Eco Industrial Estates constantly by expanding capabilities
to cover 6 key components including Smart Services, Smart Mobility, Smart
Communication, Smart Power, Smart Water, and Smart Security, which will be
managed by the Unified Operation Center (UOC). This will be further evolved
into a Total Solutions Partner for customers by providing fully integrated
services.
Utilities
Business – continues
to focus on the value-added water products and grow
along with the Group’s industrial estates as well as capture opportunities
outside WHA’s industrial estates both domestic and international. In addition,
the company continues to develop the Smart Water Platform and explore
new business opportunities providing integrated solutions for its customers
such as environmental solutions and other industrial utilities services.
Power
Business – continues
to invest and develop energy solutions, especially those related to renewable
energy while seeking new opportunities in new S-Curve
businesses such as electric vehicle charging stations, Battery Energy Storage Systems (BESS), Carbon Trading and
Carbon Capture Utilization and Storage (CCUS).
Digital
Business – elevates its organizational and workforce development to become
a Technology Company in the year 2024, by adopting technology to drive the
organization under the "Mission to The Sun" through 9 projects aimed
at digitally transforming the business. These include the Green Logistics
project, which is currently developing a platform – Green Mobility Platform
that integrates various services for electric vehicle business customers, such
as fleet management, route optimization, and EV roaming network connection.
Additionally, the Digital Health Tech project has developed the WHAbit
application, which enables comprehensive health management. The company plans
to begin offering application services to industrial customers in the first
half of this year.
Simultaneously, the company has set
goals to fully operate its business in line with the circular economy
principles by the year 2050 through initiatives guided by three principles:
Design & Resource, Green Products, and Operation Excellence to enhance
resource efficiency within the company's ecosystem.
Moreover, the Company
will monetize assets to WHA Premium Growth Freehold & Leasehold Real Estate
Investment Trust (WHART) and WHA Industrial Leasehold Real Estate Investment
Trust in Q4 2023 (WHAIR), as planned.
Lastly, WHA Group commits to
sustainable growth in all dimensions, aligning with
the WHA: WE SHAPE THE FUTURE mission to shape a sustainable society,
environment, and Thailand.
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