Company News
Hemaraj’s Confident in its Business Prospects
20/01/2015
The company four Business Lines - Industrial Estates, Utilities, Power and Property - are poised to generate further growth
Bangkok, 20 January 2015 – Hemaraj Land And Development Public Company Limited (Hemaraj) announced that Industrial Estate land sales for 2014 were 665 rai (266 acres or 106 hectares). There were 42 new contracts, being 31 new customers and 11 project expansions from existing customers. Of the contracts, 30% were Japanese companies while 30% were from the automotive industry.
Despite the sluggish Thailand economy in 2014, due to Thailand’s political issues and to the global economic slowdown, Hemaraj’s financial status is strong. In November 2014, TRIS Rating upgraded the company from “A-” to “A”, highlighting the shift in Hemaraj’s earning structure towards more predictable revenues, thanks to its utility, power and rental businesses, which now represent more than 50% of the company’s earnings.
In 2014, Ready Built Factories increased net 8,522 square meters, totaling 302,070 square meters under rent. Hemaraj Logistics Parks for Rent increased net 10,290 square meters or 14% from 2013 cumulative balance.
Utilities volume demand increased 4% by volume in comparison from average 2013.
The Power business with Gheco-One, a 660 MW IPP (Independent Power Producer) coal project with Hemaraj holding 35% shares and Glow Energy 65% (GDF Suez group), operated at 95% commercial dispatch capacity, exceeding operating and financial expectations during 2014.
The total customer investments on Hemaraj industrial estates are approximately USD 26 billion, contributing extensively to Thailand’s development and growth.
David Nardone, President & CEO of Hemaraj, said: “Hemaraj is proud to have contributed extensively to building a cluster industrial base in Thailand, in particular in the automotive, electronics and petrochemical sectors. Today, our key customers at our industrial estates are using advanced technologies enabling Thailand to be a world player in these industries.”
“Hemaraj remains confident in Thailand as an attractive destination for industrial investment,” concluded Mr. Nardone. “With revenue streams from four business lines that complement each other, we are strategically placed to build upon what we have achieved. For 2015, Hemaraj projects 1,400 rai (554 acres or 224 hectares) in Industrial Estate Land Sales,” he said.
Bangkok, 20 January 2015 – Hemaraj Land And Development Public Company Limited (Hemaraj) announced that Industrial Estate land sales for 2014 were 665 rai (266 acres or 106 hectares). There were 42 new contracts, being 31 new customers and 11 project expansions from existing customers. Of the contracts, 30% were Japanese companies while 30% were from the automotive industry.
Despite the sluggish Thailand economy in 2014, due to Thailand’s political issues and to the global economic slowdown, Hemaraj’s financial status is strong. In November 2014, TRIS Rating upgraded the company from “A-” to “A”, highlighting the shift in Hemaraj’s earning structure towards more predictable revenues, thanks to its utility, power and rental businesses, which now represent more than 50% of the company’s earnings.
In 2014, Ready Built Factories increased net 8,522 square meters, totaling 302,070 square meters under rent. Hemaraj Logistics Parks for Rent increased net 10,290 square meters or 14% from 2013 cumulative balance.
Utilities volume demand increased 4% by volume in comparison from average 2013.
The Power business with Gheco-One, a 660 MW IPP (Independent Power Producer) coal project with Hemaraj holding 35% shares and Glow Energy 65% (GDF Suez group), operated at 95% commercial dispatch capacity, exceeding operating and financial expectations during 2014.
The total customer investments on Hemaraj industrial estates are approximately USD 26 billion, contributing extensively to Thailand’s development and growth.
David Nardone, President & CEO of Hemaraj, said: “Hemaraj is proud to have contributed extensively to building a cluster industrial base in Thailand, in particular in the automotive, electronics and petrochemical sectors. Today, our key customers at our industrial estates are using advanced technologies enabling Thailand to be a world player in these industries.”
“Hemaraj remains confident in Thailand as an attractive destination for industrial investment,” concluded Mr. Nardone. “With revenue streams from four business lines that complement each other, we are strategically placed to build upon what we have achieved. For 2015, Hemaraj projects 1,400 rai (554 acres or 224 hectares) in Industrial Estate Land Sales,” he said.