FRIDAY, March 29, 2024
nationthailand

TICON earnings fuel Asean expansion plans

TICON earnings fuel Asean expansion plans

TICON posted revenue of Bt1.87 billion for last year, with rental and services relating to the company’s factories and warehouses contributing the bulk of its income.


The board, in announcing Ticon’s 2016 results, said the company would deepen its push to be a leading developer of integrated industrial properties in Thailand and elsewhere in the region.
Virapan Pulges, chief executive of TICON Industrial Connection Public Company Ltd, said net profit was Bt278.10 million. 
Revenue from rental and related services, as the biggest contributor, was Bt1.17 billion, with revenue from management fees at Bt201.12 million and the gain on sales of investment units in associates, Bt103.62 million, Virapan said.

It was a record year for TICON Group with factory and warehouse space for lease increasing by 321,888 square meters. Factory leased spaces amounted to 107,390 square meters and TPARK's warehouse leased space was 214,498 square meters.

“The results from 2016 continued to grow steadily as targeted, thanks to the domestic market remaining very active with rising demand for factory and warehouse space for lease,” Virapan said.
“This was especially so in the second half of 2016, which showed a positive trend driven by the national public investment policy and significant growth in development initiatives run by foreign investors whose projects have been approved by BOI (Board of Investment). Additionally, our warehouse expansion in Indonesia has been proceeding as planned.”

The company also cited the Frasers Centrepoint capital increase of this year as another positive factor that helped boost TICON's financial flexibility for its business expansion. This helped the company with “know-how for further growth of the business, benefiting from a large customer base with high future demand for warehouses in Thailand and abroad”, it said.
TICON said this would enable the company to fully benefit from the business partnership and enhanced competitiveness of TICON, “which has a key goal a focus on expanding and strengthening its business presence in international markets”.
Virapan said: “The current board of directors and management team are now setting the company’s vision, policy and direction plan to pave the way for TICON to be a leading developer of integrated industrial properties in Asean”.

The company said it had retained its leadership in Thailand for the development of factory and warehouse businesses, with 51 projects. Total area under management tops 2.7 million square metres, including more than 1.55 million square metres at TPARK.
 

nationthailand