Hemaraj Projects Continued Growth in 2012

2011 Overall business performance achieved record levels including industrial estate land sales, industrial estate utilities and ready-built factory for rent

Bangkok: 25 January 2012.  Hemaraj Land And Development Plc. recently announced a record year of operation in 2011 and expects to continue record level in 2012.  Industrial estate land sales in 2011 hits a total of 1,670 rai (668 acres or 267 hectares), an increase of 80% from the prior year, with 74 contracts, 49 new customers and 25 project expansions from existing customers, all record levels.  Ready Built Factories for Rent in Year 2011 grew by 52,594 square meters or a 49% increase from the Year 2010 cumulative balance.  There are also another 30,000 square meters of pre-leased and pre-sold for the Year 2012, all record levels. 

According to David Nardone, President & CEO of Hemaraj, "Hemaraj continues our leading industrial estates sales, with customer investment from the automotive and industrial equipment industry resulting in 1,670 rai (668 acres or 267 hectares) #1 Market Share, an increase of 80% from prior year.  2011 results have reflected the          overall accelerated level of investment in Thailand.  The land sales target has been revised 3 times in 2011, from 1,200 rai (480 acres or 194 hectares) eventually to 1,670 rai (668 acres or 267 hectares).   In 2011, Hemaraj also signed 74 land sales contracts being 49 new customers and 25 project expansions from existing customers, with accelerated investment from overseas and relocation and diversification of sites in Thailand.  Total industrial customers stand at 475 distinct new customers with 717 contracts.  This includes 167 automotive customers with 254 automotive contracts."

Vivat Jiratikarnsakul, Executive Vice President of Hemaraj said "The company is confident Thailand will continue to see foreign direct investment flowing into the country.  In 2012 we foresee Hemaraj will continue to attract new customers mostly from automotive, consumer, steel, building material, logistics, electronics, chemical, and industrial sectors.

The construction of initial 8 buildings (a total of 49,000 square meters) at Hemaraj Logistics Park 1  (HLP 1)  will be completed from the second quarter of this year.  Located on New Highway 331, only 20 kilometers from Laem Chabang Deep Sea Port, HLP 1 covers an area of 280 rai and offers 122,000 square meters for rent. Initially 85 rai has been sold to Hi-Tech Nittsu (Thailand)."

On the business outlook for 2012, David said "The 2012 investment policy of Hemaraj will continue to focus on core business areas - industrial estate, utilities, power, and properties. With Thailand's economic outlook positive, and the continued relocation and consolidation of automotive investment, the company expects its business to grow in all areas.

Looking forward to 2012, industrial land sales are budgeted at 1,500 rai (600 acres or 243 hectares) with upside.  We also have the land transfer backlog which will be carried forward to 2012 of more than 900 rai.  The industrial estate utility demand is expected to grow by 20%. We budget the rental of Ready Built Factory and Logistics Parks will increase by 60% in square meters rented from the cumulative balance at 2011 year end." 

"The company also has significant power investments ongoing.  Gheco-One, our 35% joint venture 660MW IPP power plant with Glow Energy will be operational in April 2012.  In addition, 7 Cogen SPP power projects with 25.01% Hemaraj equity option in four industrial estates will be operational from 2013 to 2016.  Glow Hemaraj Wind is now under feasibility study for renewable energy. 

Overall, we are looking for over 40% revenue growth in 2012." David concluded.  

About Hemaraj
Hemaraj Land And Development Public Company Limited is Thailand's leading developer of Industrial Estates, Utilities, and Property Solutions.

Hemaraj develops six industrial estates of 31,280 rai (12,500 acres, 5,000 hectares) with automotive, petrochemical and other clusters comprising 475 distinct customers, 167 automotive customers with 254 automotive contracts, 717 Land or factory contracts, and a customer investment estimate of USD 22.0 billion.

Hemaraj received the "Excellent" (5 logos) corporate governance recognition level from Thai Institute of Directors (IOD) in 2009, 2010, and 2011.

For  further  information  concerning  Hemaraj  Land  And  Development  Public  Company Limited  (SET  symbol  Hemraj),  please  visit  our  website  at  www.hemaraj.com  or www.theparkresidence.co.th or contact us by email at [e-mail]

Mr. Paopitaya Smutrakalin, Director - Corporate Planning & Investor Relations
Hemaraj Land And Development Public Company Limited
18/F UM Tower,
9 Ramkhamhaeng, Suanluang
Bangkok 10250, Thailand
Tel: [phone] to 9 Fax: [phone] to 7
www.hemaraj.com