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Thailand Industrial Developer Hemaraj Seeks Rebound

By on May 14, 2015 in Property News

servive-industrial-1(1)The Thailand Industrial Estate Developer, Hemaraj Land and Development Plc (HEMRAJ) is looking for better performance this year as they focus on recurring revenue from utilities and the non-automotive sector.

The President and Chief Executive, David Nardone, said the company’s performance last year fell short of expectations because the Board of Investment failed to grant investment privileges at a time when the country’s economy was ailing. Continued growth in non-automotive categories such as consumer goods, electronics and petrochemicals should offset falling output in heavy industry and warehousing.

“We see the non-automotive business capitalising on a bigger market with the rising population in Asia-Pacific, with Thailand remaining the company production base to provide for the growing market,” MrNardone said.

WHA Corporation Plc, a warehouse developer, recently acquired Hemaraj to increase its presence in the industrial estate sector. “The merger allows the company to achieve economies of scale that will reduce operating and production costs,” said SomyosAnantaprayoon, chairman of Hemaraj and chief executive of WHA.

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