公司新聞
Hemaraj 9M’2014 Industrial Estate Land Sales of 522 rai with an Improving Trend
13/10/2014
Bangkok, 13 October 2014 PM – Hemaraj Land And Development Public Company Limited (Hemaraj) announced that Industrial Estate land sales for 9M’2014 were 522 rai (208 acres or 84 hectares). Year to date, there are 31 contracts, being 21 new customers and 10 project expansions from existing customers. Of the contracts, 39% are Japanese companies while 25% were from the automotive industry.
David Nardone, President and CEO of Hemaraj Land And Development Public Company Limited noted “From mid 2014, the Thai economy, reflecting a stable political environment, the return of peace and order, and a resumption of foreign direct investment has started to recover. The IMF projects Thailand GDP growth at 1% in 2014 and recovering to 4.6% in 2015.
Our industrial estate land sales reflect the continued severe weakness in the domestic automotive market with total automotive OEM production volume down 28% through August 2014. Export auto OEM growth up 3% in volume, however inclusive of auto parts increased 8.8% in value. There continues to be longer term new product or technology automotive investments reflecting positive plans in the industry. The ECO Car 2 program applications were submitted by five (5) Hemaraj automotive OEM manufacturers.
The backlog in Board of Investment applications, being baht 284 billion to be approved, has had some negative impact on 2014 investment timing. Still, we are heartened by 21 new Hemaraj customers and a non automotive exposure of 23 out of 31 contracts. These constraints as well as heavy industry plant maintenance in the third quarter have impacted our short term water and waste water utility volume with growth up 2%, the take-up of ready built factory space being up 2%, and logistics warehouse growth up 14%.
Our Power business with Gheco-One, a 660 MW IPP (Independent Power Producer) coal project with Hemaraj 35% shareholding and Glow Energy 65% (GDF Suez group), has operated at 95% commercial dispatch capacity, exceeding our operating and financial expectations during this year.
We remain confident in our business strategy of increasing broad recurring revenue and predictable earnings as reflected positively by the financial results for the first half of 2014. Thailand continues to be the preferred location for manufacturing and growth due to reasonable costs, good infrastructure, and expanded market access.”
David Nardone, President and CEO of Hemaraj Land And Development Public Company Limited noted “From mid 2014, the Thai economy, reflecting a stable political environment, the return of peace and order, and a resumption of foreign direct investment has started to recover. The IMF projects Thailand GDP growth at 1% in 2014 and recovering to 4.6% in 2015.
Our industrial estate land sales reflect the continued severe weakness in the domestic automotive market with total automotive OEM production volume down 28% through August 2014. Export auto OEM growth up 3% in volume, however inclusive of auto parts increased 8.8% in value. There continues to be longer term new product or technology automotive investments reflecting positive plans in the industry. The ECO Car 2 program applications were submitted by five (5) Hemaraj automotive OEM manufacturers.
The backlog in Board of Investment applications, being baht 284 billion to be approved, has had some negative impact on 2014 investment timing. Still, we are heartened by 21 new Hemaraj customers and a non automotive exposure of 23 out of 31 contracts. These constraints as well as heavy industry plant maintenance in the third quarter have impacted our short term water and waste water utility volume with growth up 2%, the take-up of ready built factory space being up 2%, and logistics warehouse growth up 14%.
Our Power business with Gheco-One, a 660 MW IPP (Independent Power Producer) coal project with Hemaraj 35% shareholding and Glow Energy 65% (GDF Suez group), has operated at 95% commercial dispatch capacity, exceeding our operating and financial expectations during this year.
We remain confident in our business strategy of increasing broad recurring revenue and predictable earnings as reflected positively by the financial results for the first half of 2014. Thailand continues to be the preferred location for manufacturing and growth due to reasonable costs, good infrastructure, and expanded market access.”