JVJareeporn Jarukornsakul, group chief executive officer of WHA Corp, said the joint venture, WHA Daiwa Logistics Property, would pursue two large logistics centres in the Laem Chabang and Bangna-Trat (Chonlaharn) areas for a total investment cost of Bt2.3515 billion. The company has also entered the housing-prefabrication business in Malaysia.Daiwa expects its Thai business to generate similar revenue as its Indonesian and Vietnamese businesses, each of which currently generates between 3 billion and 4 billion yen annually. Of the total logistics investment budget, 10-20 per cent is expected to be for Asean, including Thailand.The WHA joint venture marks Daiwa's first entry to the Thai market, after its inroads to Vietnam's logistics market in 2011 and Indonesia's in 2012. WHA will hold 51 per cent of the JV and Daiwa the remaining balance,"Daiwa has prepared a budget of several billions of baht to join us in several other projects," she said. "It is our strategy not to focus on competing, but rather on having strategic partnerships with people doing similar businesses that will make us No 1 and growing larger.

Source: The Nation Bangkok July 26, 2016 18:00 UTC