TPARK's Excellent Performance of the first 7-month Confident to meet the target by Year End with the increasing investment budget of 10 Billion Baht

Stocks and Financial Services Press Releases Wednesday August 28, 2013 18:03
Bangkok--28 Aug--BrandComm Consultants

TPARK's Excellent Performance of the first 7-month Confident to meet the target by Year End with the increasing investment budget of 10 Billion BahtAs at the end of July 2013, warehouse space for lease increased by 199,531 sq mcomparing to target of over 300,000 sq m for 2013

TPARK or TICON Logistics Park Co., Ltd., the leading logistics parks and warehouses developer for lease in Thailand, announced its first 7-month performance of 2013 is beyond expectation. Accumulated leased space totals 746,284 square meters, an increase of 199,531 square meters or nearly 40% compared to accumulated space at the end of 2012. The successful operation comes from increased number of customers due to expansion of key industries and continuous launching of TPARK's new logistics park projects. A part of its business strategy, TPARK aims to increase land bank by 1,000 rai by end of 2013. The company has increased 2013 investment budget to 10 billion baht from 5.5 billion baht earlier announced at the beginning of the year. The budget will be used for land purchase and Logistics Park development in order to serve immediate requirements of industry expansion.

Mr. Patan Somburanasin, General Manager of TPARK or TICON Logistics Park Co.,Ltd., announced that for the first half of 2013 TPARK has a total of 250 million baht realised revenue from leased space. As at the end of July 2013 increased warehouses space for lease totals 199,531 square meters or nearly 40% increase from total accumulated leased space of 546,753 square meters at the end of 2012. Total number of customers increased to 86 representing a totally accumulated leased warehouse space of 746,284 square meters. Among these, 41% are Logistics Services Providers, 23% from Automotive Industry, 10% from Electronics, 7% from Consumer Products and 19% from other industries.

"During the first 7 months of this year, Rental warehouses business continues to grow. TPARK's new customers continuously increase, reflecting consistent expansion of industries especially Automotive, Electronics and Imports & Exports. As a result, demand for warehouses in strategic locations for logistics and distribution also increases. Realizing the opportunity, TPARK continued to launch new Logistics Park projects in key areas such as Laemchabang and Bangplee. For example, 'TPARK Laemchabang 2' was recently launched on a 500 rai of land which will serve as a distribution hub and facilitate the increasing demand from the Imports & Exports sector in the Eastern region. With an investment of approximately 4.2 Billion Baht we plan to complete the project within 2015 with a total space of 230,000 square meters of warehouses for lease.

TPARK also witness the great success of 'TPARK Bangplee 1' which covers a land area of 121 rai. The total 100,000 sq.m of warehouses for lease in the Bangplee project has been fully leased out before completion of the project. Some of the customers are Central Watson, Siam Makro, Rhenus Logistics and DSV Air & Sea with majority of requirements for Built -to-Suit warehouses.", said Mr Patan.

Concerning the business direction of TPARK in the 2nd half of 2013, Mr. Patan disclosed that the company still focuses on increasing 'availability' of high quality Ready-Built warehouses (RBW) and ready-for-use land for development of Built-to-Suit warehouses (BTS) in order to create superior competitive edge over our competitors in responding to customers' immediate needs.

"TPARK will continue to buy more land for developing new Logistics Parks. At present, TPARK has a total 4,692 rai of land, an increase of 656 rai compared to accumulated land area at the end of 2012. We have already acquired approximately 600 rai in Bangplee area for developing TPARK Bangplee 1-5. With the acquisition TPARK becomes the developer of warehouses for lease with the biggest ready-for-use land bank in Bangplee area. The company aims to increase our land bank to a total of 1,000 rai in Bangplee area by the end of 2013. In addition, we have expanded our locations to the South with the purchase of the first plot of 70 rai in Surat Thani Province. We are confident that with this aggressively strategic move TPARK will easily achieve the set target of 60% growth by end of 2013," concluded Mr. Patan.

TPARK now has 28 logistics parks covering a total land area of 4,692 rai and total 746,284 square meters of leased warehouses. With an additional 450,000 square meters of ready-built warehouses already available for lease and under development in 2013, TPARK will have a total warehouse spaces for lease of 1,196,284 square meters by the end of 2013. Each TPARK's Logistics Park is situated in strategic location for logistics operation. Especially, TPARK Bangna and TPARK Bangplee are the most suitable locations for logistics operation to support various industries.

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