Google

ASEANAFFAIRS
Sign up | Log in

    ASEAN PROFILES

  ASEAN KEY DESTINATIONS

PR Today

Home >> Press Release






JWD InfoLogistics (SET:JWD) Reports QoQ Recovery, Provisions Affect Performances in Q3

BANGKOK, Nov 14, 2016 - (ACN Newswire) - JWD Infologistics PCL (SET:JWD), a leading fully integrated in-land logistics service provider, announced its improved performance in Q3 due to outstanding results from the hazardous cargo warehousing and automotive segments and more effective cost control, and noted its decision to recognize for Q3 onetime provisions for judgment in connection with a case pending the Supreme Court's decision for retroactively claiming share of fee revenue from its hazardous cargo warehousing business at Laem Chabang port. Its management is confident that its businesses will continue to grow strongly, and that Q4 results will show signs of continued recovery and support healthy growth in 2017 as planned.

Dr Eakapong Tungsrisanguan, Chief Financial Officer (CFO) of JWD, revealed the company's Q3 (Jul-Sep) results, highlighting a total revenue of THB 568.4 million, a slight q-o-q increase from THB 561.5 million, and a net profit (before provisions) of THB 24.4 million, up from THB 7.7 million in Q2, which reflects the company's sheer growth potentials and responsiveness to customers' needs.

However, for Q3, after careful consideration JWD decided to recognize provisions for i) judgment in connection with a legal case in which the Court of Appeal directed it to change certain interest calculation methods (which would result in more interests to be borne by it) and which is pending decision by the Supreme Court; and ii) retroactively claiming share of fee revenue from its hazardous cargo warehousing business at Laem Chabang port between 2010 and 2015. The issues remain unsettled but it has opted to follow the transparency and good corporate governance principles by recognizing onetime provisions for these contingent liabilities, which turned the operating profit of THB 24.4 million into a quarterly net loss of THB 105.1 million. The revenue share claim will not affect the operation of the hazardous cargo warehousing business, which is run by JWD as the sole authorized operator and in compliance with the international safety standards.

The CFO added that the company's nine-month results (Jan-Sep) showed a total revenue of THB 1.6792 billion, a net profit (before provisions) of THB 78.1 million and a net loss (after provisions) of THB 51.4 million.

Mr Charvanin Bunditkitsada, Chairman of the Executive Committee and Chief Executive Officer, said that he has detected signs of recovery especially in the hazardous cargo warehousing segment, with rising volumes of containers entering and leaving JWD's storage facilities and the 'JWD Chemical Supply Chain' (JCS) centre within Laem Chabang port, Chon Buri. The JCS centre, which has become operational since July, has drawn healthy interests from customers, recording a 40% occupancy ratio. The ratio is targeted to rise to 100% by 2017, which would increase the company's annual revenue by THB 30-40 million. During Q4, the company will focus its efforts on expanding the customer base in the automobile storage and management segment from the existing automaker firms to include automotive parts producers, which will help the company record robust growth again, added he.

About JWD InfoLogistics PCL

JWD InfoLogistics (SET:JWD) knows everything about logistics and supply chain management. The Group's fully integrated logistics and supply chain solutions cover all types of warehousing, including the free zone area, in fields where it has competitive advantage in terms of the ability to manage one-stop and unconditional service offers because it wholly own all warehouses. The Group is also proficient in customs procedures, product transportation and distribution, as well as logistics software development. Founded in 1979, the JWD Group has grown to comprise 18 subsidiaries and operates warehouses and yards covering a total storage space of approximately 800,000 sqm. The Group currently employs 1,300 staff and has branch offices in 32 countries. For more information, please visitwww.jwd-group.com/en/.

Contact:

Released for JWD Infologistics
by MT Multimedia
Yuttachai ("Tle") Paikanahok
Mobile: +66 9 1736 2866
E-mail: yuttachai.p@mtmultimedia.com



Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
Online Ad Rates
Contact: marketing@aseanaffairs.com

Comment on this Article. Send them to  your.views@aseanaffairs.com

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
 
or
submit your comment in the box below



 
Today's  Stories                           November  18, 2016 Subsribe Now !
• ASEAN finance ministers work to promote regional investment  Subcribe: Asean Affairs Global Magazine
• Indonesia braces for defeat in 35 GW program
• HN businesses prep for hectic Tet demand
Research Reports
on Thailand 2007-2008

• Textiles and Garments Industry
• Coffee industry
• Leather and footwear industry
• Shrimp industry

• Experts question praise of China’s ‘drought relief’ 
• Ten companies to invest in KEK Palu
Asean Analysis                  November 8, 2016
• Asean Analysis  November 8, 2016
Tumultuous Times for Indonesia’s New Minister of Energy & Mineral Resources
Advertise Your Brand

Asean Stock Watch   November  17 , 2016
• Asean Stock Watch-November 17, 2016
The Biweekly Update
• The Biweekly Update  September 30, 2016

ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent
• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore • Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline • Vietnamese PM projects 10-year socioeconomic plan

ASEAN  ANALYSIS

This year in Thailand-what next?


AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More

 


Name

Name


Email

Email



1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

| Terms of Use | Site Map | Privacy Policy  | DISCLAIMER |

Version 5.0
Copyright © 2006-2019 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand
asean@aseanaffairs.com