||Japan,Thailand : WHA-Daiwa JV plans logistics hubs
||A major logistics and industrial-estate developer, WHA GROUP, has established a strategic partnership via a joint venture being established with Daiwa House Industry, a large Japanese conglomerate.
According to Jareeporn Jarukornsakul, group chief executive officer of WHA Corp, the joint venture, WHA Daiwa Logistics Property, would pursue two large logistics centres in the Laem Chabang and Bangna-Trat (Chonlaharn) areas for an investment cost of total Bt2.3515 billion. WHA will hold 51 per cent stake in the JV and the remaining to be held by Daiwa.
She said, "Daiwa has prepared a budget of several billions of baht to join us in several other projects. It is our strategy not to focus on competing, but rather on having strategic partnerships with people doing similar businesses that will make us No 1 and growing larger."
WHA was in discussion with Daiwa regarding the possibility of forming joint ventures to pursue new logistic projects in neighbouring countries, mainly Indonesia and Vietnam, where both companies already have some projects.
According to Daiwa managing executive officer Tatsuya Urakawa, the company had allotted 700 billion yen (Bt235 billion) for investments over a period of next three years, of which 360 billion yen would be for logistics. Out of the total logistics investment budget, 10-20 per cent would be for Asean, including Thailand.
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