Hemaraj’s CEO Shows Confidence in Thailand on CNBC Asia

Mr. David Nardone, President & CEO of Hemaraj Land And Development Plc., recently gave a live interview on CNBC “Squawk Box Asia”.

During the over 6-minute interview, Mr. Nardone expressed confidence in the strength of Thailand’s economy citing the World Bank’s forecasts of 5 – 6% GDP Growth for Thailand with limited political impact on key business areas. The country also experiences a return of investment particularly in automotive industry both domestic and export markets. Supporting the statement is the recent announcement of Ford Motor Company Thailand to invest Bht 15 billion (US$450 million) for construction of a new passenger vehicle plant in Thailand on 187 acres of land at Hemaraj Eastern Seaboard Industrial Estate dubbed the “Detroit of the East”.

Touching on Hemaraj’s performance, the company sees significant improvements in industrial land sales as well as rising revenue from utilities services and property projects, Hemaraj remains on track to deliver solid operating and financial results for 2010.