This vision followed the company’s takeover of Hemaraj Land and Development last year and the regrouping of its businesses into four key hubs. One is the digital hub, and the other three are industrial estates, logistics, and utilities and power.

“After Hemaraj was integrated with WHA, we now cover all market segments of industrial estates,” Jareeporn Jarukornsakul, group chief executive officer, said in a recent interview to The Nation.

She said WHA’s group of companies would also move forward under a new group brand with logos expected to be launched in August.

The WHA group is No 1 in the industry in land sales, with more than 30 per cent of the market since 2008. The group has eight operating industrial estates and four in development, for a total of 45,000 rai (7,200 hectares).

The group is also the leader in built-to-suit logistics facilities. A pioneer in this segment, it secured new contracts for 223,000 square metres last year.

Meanwhile, the utilities and power and digital hubs started generating revenue last year, with Bt2.54 billion and Bt686 million respectively.

Jareeporn said the group from now on would focus more on new services and products or new business models to drive it ahead with recurring income through the digital hub as a support unit.

She said the group aimed to make its digital hub a one-stop service for data-centre developers and providers by collaborating with reputable partners.

The hub with eight services such as data management and fibre optics will focus on the group’s clients, especially those renting its industrial estates or built-to-own customers.

Moreover, Jareeporn said the digital hub would be connected with the other hubs as a central unit to create new business models for the group under supervision of the steering committee, which she chairs.

When a new business is proposed and its conceptual process completed by the steering committee, it will be sent to the relevant hub to be developed further.

“If we are big, we need to control things so that we can focus our direction,” Jareeporn said.

The remainder outstanding of company’s acquisition loan of Bt17 billion will be cleared by the end of this year, earlier than planned, lowering its debt-to-equity ratio to 1.8 times from the current 2.5 times, she said.

Last year, WHA posted total revenue of Bt13.10 billion, of which about 75 per cent was from its industrial-estate and logistics businesses and the rest from the utilities and power and digital businesses.

This year, Jareeporn said the company would balance the growth of the auto and non-auto segments for land sales in its industrial estates, and maintain its status as the No 1 developer of built-to-suit logistics facilities.

She said WHA maintained its target for this year’s sales at Bt17 billion, based on whether the targets of the four business hubs could be achieved.

In 2019, the company will focus more on recurring income, expecting sales of Bt18 billion.

The company is charting a course for sustainable growth which balances the development of its renewable energy, conventional power and coal businesses. Banpu’s strategy is in line with global policy initiatives which emphasise both energy security and the need for cleaner energy. Banpu is confident in seizing investment opportunities with potential to increase its equity-based power generating capacity to 4,300 MWe by the end of 2025, of which renewable energy will account for 20 percent.

“Banpu operates on the principle of balanced and sustainable growth in three dimensions: environmental responsibility, social development and economic return. In recent years we have identified and commenced evaluation of a number of renewable energy investments. We have already concluded investment agreements for solar operations and projects in Japan and going forward are aiming to secure further opportunities in Japan, China, Thailand and other countries. Banpu’s plans are very much in accordance with the guidelines agreed at the UN Climate Change Conference, ‘COP21’ and the objectives of energy and fuel diversification,” said Somruedee Chaimongkol, chief executive officer of Banpu.

The strategic plan for “Balanced Growth, World-Class Sustainability” sets guidelines for 2016-2020 around five main themes. These are: 1) Strategic flexibility in the face of economic uncertainty; 2) Cost reduction and rationalisation, with organic capital expenditure reduced to US$554 million; 3) Productivity optimization; 4) Value-add strategies; and 5) Asset and corporate finance strategy, including launching the IPO of its subsidiary “Banpu Power Public Company” or “BPP”.

“Over the next five years electricity demand in Thailand, Laos and China – i.e. countries where we are already present – is forecast to expand at a compound annual growth rate of towards 7 per cent. And Japan’s solar power demand is likely to grow at over 25 per cent over this period. We therefore think Banpu’s power business is well placed for substantial growth. Our filing process for the IPO is on track as planned. But we are in no rush. We will monitor market conditions this year to achieve optimal timing,” added Somruedee.

According to its current on-going investment plan across the region, it is expected that by the end of 2020 Banpu Power will achieve a total equity-based power generating capacity of nearly 2,394 MWe. The Shanxi Lu Guang Power Project in China, with an installed-capacity of 1,320 megawatts, is in the development process, with commercial operation due by year-end 2017. The seven incremental solar energy projects, with a total of 54 megawatts on an equity basis, will gradually start commercial operations over the period 2016-18. By 2025, the company will have unlocked its potential of increasing the equity-based power generating capacity to around 4,300 MWe, of which 20 per cent will be renewables based.

“Banpu has a philosophy of flexibility and resilience which enables us to overcome challenging macro environments. This, coupled with our proactive financial strategy of maintaining strong cash flows and balance sheet liquidity, has enabled us to keep the momentum of dividend payouts despite volatile commodity market. It also puts us in an excellent position to take advantage of new growth opportunities,” she said.

Since 2013, Banpu has been one of the leading companies listed in the Dow Jones Sustainability Index (DJSI).