BANGKOK, Thailand – WHA Corporation is preparing for a stronger second half of 2026, with additional industrial land transfers and more than 3.7 billion baht in assets planned for sale to its property funds, while expanding investments in clean energy. WHA Group Group CEO Jareeporn Jarukornsakul said the company remained focused on growth across its logistics, industrial estate, utilities, power, mobility and digital businesses despite geopolitical tensions and uncertainty in the global economy.
For the first six months of 2026, WHA Group reported total revenue and share of profit of 6.38 billion baht, down 32.1% year-on-year, while net profit stood at 2.17 billion baht, down 29.1%. Normalised revenue and share of profit reached 6.45 billion baht, down 30.8%, with normalised profit at 2.08 billion baht, down 33.8%. The logistics business remained a key growth driver, with revenue and share of profit rising 19.2% year-on-year. WHA signed new built-to-suit and ready-built warehouse and factory contracts covering 52,989 square metres, while short-term high-yield leases added another 72,995 square metres. Total logistics space under management reached more than 3.23 million square metres. Several major logistics facilities in Thailand were nearly fully occupied, prompting WHA to accelerate new phases in strategic locations.
The company also expects to recognise additional income from asset transfers to its WHART and WHAIR property funds in the second half of the year. WHART unitholders approved an additional investment in assets covering 99,390 square metres worth 2.51 billion baht, while WHAIR approved assets covering 45,329 square metres worth approximately 1.24 billion baht. Industrial estates also continued to benefit from companies relocating production and investment to Southeast Asia. WHA recorded 1,199 rai of land sales in the first half, with 505 rai transferred and a backlog of 1,464 rai awaiting ownership transfer.
The company said Thailand remained an attractive destination for future industries, including digital technology, semiconductors, advanced manufacturing, electric vehicles and clean energy. WHA currently operates 17 industrial estates in Thailand and Vietnam, with more than 10,340 rai in Thailand under development or construction. Its water utilities business also expanded, with total water sales and management reaching 87.1 million cubic metres during the first half, generating 26.7% growth in revenue and share of profit. Demand increased across power generation, petrochemical and automotive customers.
In the power business, solar electricity sales increased 60% to 156.4 gigawatt-hours. WHA signed additional private power purchase agreements covering 12 megawatts, bringing its accumulated private PPA portfolio to 384 megawatts. Total power generation capacity based on its shareholding stood at 1,070 megawatts, including 756 megawatts already operational and 314 megawatts under development, all of which are renewable-energy projects.
WHA is also studying further clean-energy opportunities, including direct renewable-energy PPAs, third-party access to the power grid and small modular reactor technology to provide stable clean power for future digital and advanced-technology industries. In mobility, the company is expanding its Mobilix green logistics platform, covering EV rentals, charging stations and fleet and battery management software. Its accumulated EV rental fleet reached 414 vehicles at the end of the second quarter.
WHA is also advancing its three-year “Flight of the Future” roadmap, targeting an intelligent enterprise ecosystem by 2028 and expanding the use of AI across its operations. Jareeporn said the company would continue pursuing its “WHA: SHAPE THE FUTURE FOR THAILAND” mission while positioning its businesses to benefit from the country’s transition toward the New Economy.
