Manufacturing shift to east of Bangkok boosts Thai Factory Development
Industrial-estate firm Thai Factory Development has raised its revenue estimate for the year from Bt800 million to Bt1.3 billion, thanks to rising demand for the construction of manufacturing plants to the east of Bangkok.
The company recorded revenue of Bt766.61 million and net profit Bt116.58 million in the first nine months of the year.
It achieved revenue of Bt370.42 million and a net loss of Bt46.17 million last year.
TFD’s adviser to the board, Apichai Taechaubol, yesterday |said that two weeks ago the com-pany had sold three plots worth nearly Bt500 million combined |to Japanese auto-assembly |firms.
The companies have decided to set up plants at TFD Industrial Estate because it is in Chachoeng-sao province, which has not been hit by the severe flooding and is close to other auto manufacturing plants.
Meanwhile, some manufacturers badly affected by the floods in Ayutthaya and Pathum Thani provinces have moved their plants or warehouses to TFD Industrial Estate, which will drive the developer’s revenue this year above its earlier estimate, he said.
Given the demand to move manufacturing to the east of Bangkok, the company has decided to buy 1,000 rai (160 hectares) of land close to its Chachoengsao estate for
Bt1.2 billion, so that it can establish another industrial estate.
TFD has also set aside Bt800 million to build infrastructure at the new estate next year.
Apichai said the company would also develop a new condominium project worth Bt3.2 billion in Hua Hin, with the grand opening and presales launch set for December 1.
The project, which targets home-buyers seeking a second residence, will commence construction in March and be completed in 2014.
“We target sales of about 15 per cent upon opening presales next month,” he added.
The Hua Hin project is the company’s second condominium, following the launch of a Bt3.3-billion project at Sukhumvit Soi 15 in Bangkok.
The Sukhumvit project has sold 50 per cent of its value and will be completed and transferred to customers next year.
Apichai said the main income of the company this year was from its industrial estate, but revenue next year would also be generated by condominium projects and the Anantara Sathorn Hotel in Bangkok.
