JWD earmarks B5bn for five-year investment plan

JWD InfoLogistics Plc is set to rev up its investment after it completes its listing plan for the Stock Exchange of Thailand by the third quarter.

Charvanin Bunditkitsada, chief executive of the logistics provider, said his company planned to spend 3.5 to 5 billion baht from 2016-20, mainly on warehouse expansion in Bangkok, Samut Sakhon, Samut Prakan and Chon Buri to cope with growing cross-border logistics services from Laos, Myanmar, Cambodia, Vietnam and Malaysia.

Plans are also afoot to develop new warehouses in Yangon and Vientiane.

“Of the five-year investment, 500-850 million baht will be used for chemical warehouse construction in Laem Chabang as well as new warehouses in Myanmar and Laos this year,” Mr Charvanin said.

Founded in 1979, JWD InfoLogistics, a subsidiary of JVK Group, handles a range of items such as car parts, chemicals, hazardous materials and food.

The company set up AutoLogic in 2008 at Laem Chabang port in Chon Buri to provide yard management service for all types of vehicle exports.

AutoLogic’s other services include automotive yard storage, self-drive service and contamination control.

The company has three car yards under management spanning 300 rai and handling 20,000 to 25,000 vehicles a year.

Of the total, 8,000 to 9,000 vehicles for export were handled at the main yard near Laem Chabang’s A5 Pier.

Its main customers are Nissan, Mitsubishi, Isuzu, Tata, General Motors and SAIC Motor-CP.

Mr Charvanin said JWD was unlikely to expand the car park in the short term since the space was still sufficient.

JWD submitted an initial public offering (IPO) filing in March to offer up 120 million shares or 20% of paid-up shares.

The Bunditkitsada family now owns 63.06% of JWD, the Nimitpanya family 22.8% and others 14.14%.

After the IPO, the Bunditkitsada family’s stake will be diluted to 50.44%, the Nimitpanya family 18.24% and others 11.32%.

JWD achieved revenue of 2.28 billion baht last year, up by 8% from 2.11 billion in 2013, which was an increase of 26.3% from 2012.

Net profit was 124 million baht last year, 375 million in 2013 and 193 million in 2012.

Kasikorn Securities Plc is acting as JWD’s financial adviser.