Thailand: JWD allots B80m for solar rooftops

Thailand: JWD allots B80m for solar rooftops

SET-listed JWD InfoLogistics Plc, an integrated inland logistics service
provider, has invested in installing solar rooftops on its warehouses,
expecting the new investment in renewable power to cut its power bills
substantially and lead to greater profit.

Chairman and chief executive Charvanin Bunditkitsada said the company
started installing the solar cells in its cold-storage warehouses, which
consume more power than other types of warehouses.

He said the company invested 50 million baht in the solar rooftop project
and has completed installation at Mahachai and Suwinthawong locations,
expected to help save over 8 million baht in power bills combined. That
would be equivalent to more than 12% of its total cold-storage warehouse
power bills per year.

Mr Charvanin expects to complete the installations and start power
generation by the third quarter this year.

The company plans to invest another 30 million baht to install the second
phase of the same system on its cold-storage warehouse at Bang Na.

"These will enable JWD to record a 42% rise in gross profit margin this
year," he said.

"Solar cells have an average service life of about 25 years, and are a
suitable technology for Thailand's virtually year-round sunlight, which is
good for power efficiency."

Mr Charvanin said the cost-cutting strategy coupled with the faster than
expected recovery of demand for cold-storage services for seafood products
at Mahachai have led the company to forecast the 42% rise in profit this
year. Another contributor is JWD's efforts to offer warehousing to more
poultry firms.

JWD posted a net loss of 8.9 million baht in 2016, reversing a net profit of
333 million the previous year mainly because of a 116-million-baht payment
for additional benefit-sharing charged by the Port Authority of Thailand in
the third quarter.

The company had a lower gross profit because of the closure of two general
warehouses for renovation and less seafood demand as a result of the
illegal, unreported and unregulated fishing scandal.

JWD shares closed yesterday on the Stock Exchange of Thailand at 9.65 baht,
up five satang, in trade worth 6.84 million baht.

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Link to Original Article:
http://www.bangkokpost.com/business/news/1226620/jwd-allots-b80m-for-solar-r
ooftops

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com