JWD InfoLogistics to build cold storage for partner in 3 countries
JWD INFOLOGISTICS will invest about Bt400 million to build cold-storage facilities in Myanmar, Cambodia and Laos to support its partner's restaurants in the three countries.
The company also expects to finalise its initial public offering of 120 million shares next month. JWD InfoLogistics, which provides storage and inland transport services, is a partner of RMA Group, the franchiser of The Pizza Company, Dairy Queen and Swensen’s in those countries.
Charvanin Bunditkitsada, chief executive officer, said yesterday that the company was responding to the exploding demand for fast food in those countries by building refrigerated warehouses to keep the ingredients used in the outlets of its partner in suitable condition.
“The trend of consuming fast food is at peak, especially in Myanmar and Cambodia,” he said. About Bt180 million will be spent in Myanmar, Bt180 million in Cambodia and Bt40 million in Laos. About 25 per cent of the budget will be used to set up the information-technology, transport and human-resource systems.
The company expects to increase the contribution of its foreign operations from about 8-10 per cent of sales now to more than 25 per cent in 2018.
The company expects to start trading its 120 million IPO shares by next month.
The proceeds will be used to expand to Asean countries and augment cash flow. The expansion will focus on storage and transport services for food and frozen products, dangerous goods, and general merchandise within the region. Revenue reached Bt1.2 billion in the first half and is expected to increase by about 10 per cent from last year’s Bt2.2 billion to Bt.2.5 billion for the full year. Revenue is expected to keep growing by more than 10 per cent per year over the next five years.
