WHA Corporation Public Company Limited (SET: WHA) announced that it is in talks with buyers to sell at least 100 rai (approximately 40 acres) of land before the end of this year to investors aiming to establish data centers.
The sales would contribute to WHA’s total sales target of 2,500 rai (988 acres). The company also plans to continue selling land to multiple data center customers in the upcoming year.
This announcement follows a comment from Ms. Jareeporn Jarukornsakul, CEO of WHA, stating that the company is maintaining its growth target according to earlier estimates.
The company is also confident that its overall performance in the latter half of 2024 will improve, supported by its logistics, industrial estate development, utilities and energy services, and digital businesses. This growth is expected to drive total revenue beyond that of the first half and achieve a new all-time high once again.
Additionally, Nvidia, a world-class chip manufacturer, plans to invest in Thailand after expressing a “positive” view of the industrial estate development groups, including both WHA Group and AMATA Corporation Public Company Limited (SET: AMATA), and recognizing the Thai government’s readiness to support the country as a hub for data centers and AI, according to Thanachart Securities.
The securities firm expected WHA to generate 1 billion baht in profit for Q3, reflecting a 40% increase compared to last year, driven by higher gross profit margins resulting from rising land prices. Thanachart Securities maintained a “BUY” recommendation on WHA with a target price at THB6.30 per share.
