Wednesday, November 13, 2019

SEC green-lights WHART’s fourth capital increase for EEC investment

Oct 17. 2019
Narumol Tantayawit
Narumol Tantayawit
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By THE NATION

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Narumol Tantayawit, chief executive officer of WHA Real Estate Management Co Ltd (WHAREM), in her capacity as WHART trust manager, revealed that the Securities and Exchange Commission (SEC) has recently approved the final version of filing documents of WHA Premium Growth Trust (WHART), a trust for investment in properties and renting rights, for its fourth capital increase.

“This approval will allow WHART to invest in properties valued at maximum of Bt4.88 billion,” she said. “We will mainly focus on strategic locations along the logistics lines on Bangna-Trat Road and within the Eastern Economic Corridor (EEC) areas, which will add more values to office buildings and warehouses in a long term.”

Narumol also added that as of June, WHART trust had already invested in 24 property projects with a total value of Bt33.214 billion.

“We have invested in 1,128,113 square metres of office space, 352,119sqm of roofed areas and 26,611sqm of parking lots, netting a total area of over 1,200 rai."

“After the fourth capital increase, WHART will invest in another five projects located in the WHA Industrial Estate in Chonburi, the WHA Mega Logistics Centre and the WHA KPN Mega Logistics Centre in Samut Prakan,” said Narumom. “We are confident that these real estate development projects will increase the efficiency of the logistics network in EEC areas and boost competitiveness of the company as well as the country.

“The total asset value of the WHART Trust should jump from Bt33.214 billion to Bt38 billion thanks to these investments,” she added.

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