WHA Group showcases leadership in debenture issuance with triple oversubscription, emphasizing the commitment to building sustainable growth under its mission: WHA - WE SHAPE THE FUTURE.

Bangkok - WHA Group has continuously been delivering good news following its achievement of a Historic All-Time High Record for its 2022 and 2023 performance. Recently, WHA Group received outstanding demand from institutional investors and high-net-worth investors for its Debenture Issuance No.1/2024, with an offering size of Baht 5,000 million plus a Greenshoe option of Baht 2,000 million (Total offering of Baht 7,000 million). This successful offering demonstrates WHA Group's leadership across its four business hubs, including Logistics, Industrial Estates, Utilities and Power, and Digital Business, both domestically and in Vietnam. It also reflects the solid confidence of investors, reaffirming the company's strong business capabilities, robust financial structure, and definite plans for sustainable business expansion.

Chairman of the Executive Committee and Group CEO, Ms. Jareeporn Jarukornsakul, is confident in achieving the business goals set for the year 2024. We are also committed to innovating business and industrial solutions to strengthen Thailand’s competitive edge, attract new investments, and create a sustainable future. Our preeminent duty is to achieve the goal of turning to a technology company with AI Transformation strategy, aiming at building digital-ready culture in the organization with a full readiness to embrace digital transformation, elevate operational excellence with data and artificial intelligence, maintain our leadership in a rapidly changing business landscape and advance our digital transformation programs which now account for more than 38 projects.

WHA Group's 4 key strategies in 2024 consists of Extend Leadership, accelerating continued business expansion both in the country and regional markets; Embrace Innovation and Technology, bringing digital technology to create new S-curve businesses; Enhance the Prominence on Green and Sustainability, aiming at achieving net zero emissions by 2050; and Build a High-Performance Organization by enhancing digital technology capabilities.

Ms. Jareeporn Jarukornsakul, Chairman of the Executive Committee and Group CEO of WHA Corporation Public Company (WHA Group), reveals that the Company’s Debenture Issuance No. 1/2024 with an offering size of Baht 5,000 million + Greenshoe of Baht 2,000 million (Total offering of Baht 7,000 million), offered during 18 – 20 March 20 via 3 underwriters, namely Kasikorn Bank, Siam Commercial Bank and UOB Bank, has received strong demand from Institutional Investors and HNW with 3 times oversubscription. There are 3 tranches of debentures: the first with a 3-year and 6-month term amounting to Baht 2,500 million; the second with a 5-year term matured in 2028 amounting to Baht 2,000 million; and the third with a 2-year 7-month and 30-day term (Zero Coupon Bond) amounting to Baht 2,500 million. WHA Group commits to sustainable growth in conjunction with environmental and social responsibility to contribute to the overall sustainable development of the country. With the proceeds raised from the issuance, the Company shall repay existing debt, and/or utilize for working capital/capital expenditure to support its business operations.

Tris Rating Co. has assigned WHA Group’s bond No. 1/2024 an “A-" rating with “Stable” outlook, as of 6 March 2024. This rating reflects the strong competitive position and proven track record in built-to-suit warehouses/ factories and industrial estate development. The ratings also incorporate the sizable base of recurring income from rental properties, utiliies services, and dividends received from power plants, as well as financial flexibility from the ability to monetize its assets to real estate investment trusts (REIT).

Ms. Jareeporn Jarukornsakul added that the 2023 performance has set an all-time high record in corporate history. This underscores the success stemming from its committed leadership across the four business hubs: logistics, industrial development, utilities and power, and digital, both in Thailand and Vietnam together with the launch of its strategic plan for 2024 with the mission of “WE SHAPE THE FUTURE”, aiming at strengthening and synergizing the capabilities of its 4 business hubs.

Logistics Business – continues to expand Built-to-Suit Factories and Ready-Built Factories / Warehouses in Thailand and abroad, focusing on high-growth industries such as EV, e-Commerce and new S-curve businesses, enhancing through innovations and technologies and embracing sustainable practices.

This includes the Green Logistics project, where the company will provide electric vehicles, and develop applications using digital technology to manage electric vehicles and batteries. This aims to support and accelerate the use of electric vehicles in the country’s transportation sector, enhancing operational efficiency, reducing logistics costs in the long term, and taking into consideration the environmental and natural impact simultaneously.

Office Solutions Business - continues to offer office building projects in prime locations of Bangkok, currently accounting for 5 projects with a total area of over 120,000 sq.m. The business unit is also venturing into new types of commercial property.

Industrial Development Business - extends leadership in Thailand and broadens national presence in Vietnam, while enlarging its product to accommodate continuous investment and production base relocation. In addition, the company will continue to further develop the Smart Eco Industrial Estates constantly by expanding capabilities to cover 6 key components including Smart Services, Smart Mobility, Smart Communication, Smart Power, Smart Water, and Smart Security, which will be managed by the Unified Operation Center (UOC). This will be further evolved into a Total Solutions Partner for customers by providing fully integrated services.

Utilities Business – continues to focus on the value-added water products and grow along with the Group’s industrial estates as well as capture opportunities outside WHA’s industrial estates both domestic and international. In addition, the company continues to develop the Smart Water Platform and explore new business opportunities providing integrated solutions for its customers such as environmental solutions and other industrial utilities services.

Power Business – continues to invest and develop energy solutions, especially those related to renewable energy while seeking new opportunities in new S-Curve businesses such as electric vehicle charging stations, Battery Energy Storage Systems (BESS), Carbon Trading and Carbon Capture Utilization and Storage (CCUS).

Digital Business – elevates its organizational and workforce development to become a Technology Company in the year 2024, by adopting technology to drive the organization under the "Mission to The Sun" through 9 projects aimed at digitally transforming the business. These include the Green Logistics project, which is currently developing a platform – Green Mobility Platform that integrates various services for electric vehicle business customers, such as fleet management, route optimization, and EV roaming network connection. Additionally, the Digital Health Tech project has developed the WHAbit application, which enables comprehensive health management. The company plans to begin offering application services to industrial customers in the first half of this year.

Simultaneously, the company has set goals to fully operate its business in line with the circular economy principles by the year 2050 through initiatives guided by three principles: Design & Resource, Green Products, and Operation Excellence to enhance resource efficiency within the company's ecosystem.

Moreover, the Company will monetize assets to WHA Premium Growth Freehold & Leasehold Real Estate Investment Trust (WHART) and WHA Industrial Leasehold Real Estate Investment Trust in Q4 2023 (WHAIR), as planned.

Lastly, WHA Group commits to sustainable growth in all dimensions, aligning with the WHA: WE SHAPE THE FUTURE mission to shape a sustainable society, environment, and Thailand.