PUBLISHED : 17 Aug 2023 at 04:00
The relocation of production facilities to Thailand by foreign investors has boosted the industrial land sales of industrial estate developer Pinthong Industrial Park Plc (PIN) and promises to generate higher revenue this year.
The bright business outlook caused the company to revise up its 2023 sales target from a previous forecast of 420 rai to 600 rai.
In the second quarter, PIN’s revenue soared by 572% year-on-year to 409 million baht and net profit rose by 468% to roughly 159 million baht.
Pira Patamavorakulchai, chief executive of PIN, attributed the increase in land sales to foreign business people, particularly business people from China.
Chinese buyers accounted for 89% of land sales in the…
