Thailand Digest: Amata announces $157m investment; IRPC to close first acquisition

Photo: Amata.

By Chalida Ekvitthayavechnukul

January 19, 2018

Amata Corporation has announced a further investment of $157 million in Thailand and Vietnam in 2018, while IRPC Pcl said it is in the process of making its first acquisition next month.

Amata to invest $157m in 2018

Thai listed industrial estate developer Amata Corporation plans to invest 5 billion baht ($157 million) in Thailand and Vietnam this year.

Amata’s director and chief executive Vikrom Kromadit told the media that the company will invest 3.4 billion baht in Vietnam and 1.6 billion baht in Thailand. A majority of the budget will be spent on land and infrastructure development for industrial parks.

Vietnam is becoming the next top destination for industrial investors and Amata Vietnam targets recurring income to grow by 35 per cent over the next five years, he said.

It projects total revenue in 2018 to increase by 10-20 per cent from over 4 billion baht in 2017, largely due to the Thai government’s Eastern Economic Corridor project that is set to attract more investment to its industrial parks.

Amata posted total revenue of 3.43 billion baht in the first three quarters in 2017, up from 39 per cent from the same period in 2016.

IRPC in talks to close first M&A deal

IRPC Pcl, a SET-listed petrochemical firm under PTT Group, expects to close its first acquisition deal next month, according to a Bangkok Post report.

IRPC president Sukrit Surabotsopon told the media that it has already hired a management consultancy from the United States to advise it on the deal. He said the assets in question are related to oil refineries and petrochemical production plants.

IRPC has grown its business organically since its establishment four decades ago. “This is our first M&A, which is in line with our policy to grow faster through M&As,” he said.

The company has access to $3 billion (96 billion baht) for all its investments, including M&A deals over the next five years.

Also Read:

Exclusive: AMATA VN to invest $200m in Vietnam’s industrial park

Thailand: Amata Corp forms JV to produce gas for clients in industrial estates

Thailand: PTT divests entire stake in Star Petroleum Refining for $112.6m

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In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.
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