Major Thai industrial estate developer announces plans to boost growth in ASEAN

Thailand's leading industrial estate developer, Amata Corporation, announced today a strategic organizational restructuring. The move aims to leverage their robust financial standing to facilitate continued growth across the three ASEAN nations where they operate, despite prevailing geopolitical uncertainties.

The company holds industrial cities for more than 1,600 factories and commercial outlets across Thailand, Vietnam, and Laos.

This year, it is targeting 2,800 rai (about 1,100 hectares) of total land sales, boosted by demand from new Asian investors and the growing trend of global foreign direct investment flowing into ASEAN, Vikrom Kromadit, Founder and Chairman of Amata, said.

"ASEAN is emerging as a new investment hub, especially for high-tech, digital, and future industries, requiring both robust infrastructure and a comprehensive business ecosystem," he said at a press conference on Tuesday.

He said the region is seeing more companies coming to set up research, development, and manufacturing bases as they make strategic decisions to diversify their footprint.

However, Vikrom noted that the recent crisis in the Middle East remains uncertain and that the company needs to closely monitor the situation in the coming weeks. Vikrom revealed that the company's organizational restructuring covers a high-level staff reshuffle and recruitment.

The new appointments include Yasuo Tsutsui, who became the Chief Executive Officer of Industrial Estate Thailand and Acting Chief Marketing Officer of Amata Corp, effective from Mar 1. Also, Osamu Sudo, was appointed Deputy Chief Executive Officer of the affiliate Amata Vietnam.

Amata reported a consolidated net profit of 3.15 billion baht ($100 million) last year, marking a 28 percent year-on-year increase.

The group's Chief Financial Officer Dendao Komolmas said that the improved net earnings were the result of a higher profit from the Vietnam operations and improved efficiency and higher margins across the board.

This year, she said the company expects Thailand to account for 1,650 rai of the sales target, primarily attracting high-tech investors within the Eastern Economic Corridor.

Meanwhile, she revealed that Vietnam is projected to contribute 550 rai, supporting manufacturing relocations for investors across diverse sectors, including high-tech, electronics, and environmentally friendly businesses. In addition, the new Laos operations is aiming for sales of 600 rai for agricultural processing and logistics purposes.

yangwanli@chinadaily.com.cn