WHA Corporation Plc announced total revenues of Bt3.44 billion and net profit of Bt780 million in the first quarter of this year, up 153 per cent and 866 per cent respectively from the same period of last year, said company CEO Jareeporn Jarukornsakul recently.

The strong growth in the first quarter of this year followed land sales in its industrial estate and water purchases by firms at its industrial estate, especially a petrochemical and energy firm, she said.

Jareeporn said the company has confidence in continuing strong growth for the rest of this year, given the demand for industrial land in the Eastern Economic Corridor (EEC).

New plants to boost bottom line as Thai Wah sees drop in Q1 profit

Thai Wah Plc announced total revenues of Bt1.82 billion for the year’s first quarter, up 29 per cent from the same period of last year. The net profit fared less well, recording Bt55 billion for the quarter, a drop of 58 per cent from the same period of last year.

CEO and director Ho Ren Hua remained confident of financial results for the year, however, due to expected strong growth when its new manufacturing plants in Cambodia and Vietnam begin operations. The company’s electrical power plant in Udonthani will also soon come on-stream and generate income for the rest of this year, he said.

Chularat Hospital sees net profit grow by 26 per cent

Chularat Hospital Plc had total revenues of Bt1.08 billion and a Bt193-million net profit in the first quarter of this year, up 15 per cent and 26 per cent respectively from the same period of last year, managing director Kumpol Plussind said recently. With new services being added to meet customer demand, the company has continuing confidence in its business growth for the rest of this year, he said.

CPF rating at A+ affirmed |due to sector dominance

TRIS Rating affirmed at “A+” the company rating and the ratings of the outstanding senior unsecured debentures for Charoen Pokphand Foods Plc (CPF). TRIS Rating affirmed the rating for CPF’s unsecured and subordinated capital debentures (hybrid debentures) at “A-”.

The ratings of CPF and the outstanding debenture issues continue to reflect the company’s leading position in the Thai agribusiness and food industry, as well as the geographic diversity of its operations, and diverse range of product offerings and markets served. The ratings also reflect the company’s efforts to create more branded food products, as well as the financial flexibility the company has gained from its strategic investments.

However, these strengths are partially offset by high leverage, the inherent cyclical nature of commodity products and the cost of grain, the exposure to disease outbreaks, and changes in regulations imposed by importing countries.

Forth Smart Service profit up 10.1% in Q1 compared to 2017

Forth Smart Service Plc had total revenues of Bt907 million and a net profit of Bt145 million for Q1, up 16.8 per cent and 10.1 per cent respectively from the same period of last year, managing director Somchai Soongswang said yesterday. Up to 80 per cent of its total revenue comes from the customers who top up their mobile phone, with the remainder coming from cash transfers, he said.

Agoda shuffles executive suite deck

Asia-based digital travel business Agoda has a new CEO effective June 1, and other long-time executives are moving to different positions, according to the parent company, Booking Holdings.

John W Brown will move to the CEO suite after serving as chief operating officer since 2014, and chief product officer before that. Agoda co-founder and current CEO, Robert Rosenstein, will become chairman of Agoda and a special advisor to the CEO of Booking Holdings, Glenn Fogel.

In addition, current chief product officer Omri Morgenshtern will become the company’s chief operating officer. “Rob [Rosenstein’s] vision for Agoda when he co-founded the company was unparalleled at the time,” said Fogel. “He recognised the immense opportunity in Asia-Pacific, and built a brand with strong loyalty and brand awareness in the region.”

Fogel added: “Our business will continue to benefit from his knowledge of the APAC region and his expertise in digital technology trends, and we couldn’t be more excited to see John step into the role of CEO.”

Brown joined Agoda in 2010 from the Boston Consulting Group, where he operated as a principal in Boston and in Bangkok. He also served as an economic advisor to the Minister of Commerce and Industry for the government of Afghanistan. Brown holds a BA from Yale University and an MBA in Finance from the Wharton School.

Prima looks to Big Sea |for increased revenues

Despite a Q1 decrease from the same period of last year, Prima Marine Plc will continue to maintain its total revenue growth at up to 10 per cent so far this year with the demand for transport oil still experiencing strong growth, CEO Chanwit Anakkul said recently.

The company reported Bt1.01 billion in total revenue and net profit of Bt146.8 million for the first quarter of this year, a drop of 11.4 per cent and 50 per cent respectively from the same period of last year, he said. The marine firm also will get increased benefits from its takeover of Big Sea early this year, said Chanwit.

Lazada anniversary sale saw leap in Thai sales

Lazada, a leading online shopping and sales destination in Southeast Asia, in April celebrated its 6th anniversary with a 240 per cent increase in the number of active sellers, as well as three times more customers signing up to Lazada Wallet during the campaign.

Throughout the three-day extravaganza between April 25 and 27, the number of sellers leapt 110 per cent over last year’s anniversary campaign and was a dramatic increase over the previous month. The number of sellers who achieved sales over the three days exceeded the total number during the entire month of March, said a company release.

The seller-focused initiative was in line with Thailand’s Smart Business Transformation programme, said Alessandro Piscini, CEO of Lazada Thailand. The initiative helped to strengthen the digital capabilities of SMEs, which are cited as a major driver in the growth of the country’s economy, he added.

Throughout the campaign, 47 per cent of sellers were from outside Bangkok, of which 37 per cent came from northern and eastern provinces, and with the remaining 63 per cent coming from central, southern and western regions.