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Amata revises 2006 target, land sales of 1,000 rai because of ongoing political uncertainty, which reduces investors' confidence

18 September 2006 < Back

'Amata' revises its 2006 land sale to be 1,000 rai because of reduced investors' confidence about investment in Thailand due to the ongoing political uncertainty. A functioning Government is needed to attract those investors with new incentives and political stability.

Mr.Viboon Kromadit, Director of Amata Corporation Public Company Limited said that currently many unstable factors especially political situation and Thailand's southern part turmoil have affected the investors' decision to expand their projects in Thailand. Therefore it has also affected to the number of land sale this year for both Amata Nakorn industrial estate in Chonburi and Amata City industrial estate in Rayong. We have now decided to revise our 2006 target to sell land of 1,000 rai from the previous first revised goal of land sale of 1,500 rai at the beginning of September 2006. A functioning Government is needed urgently to offer the attractive and stronger investment incentives in order to attract those investor to Thailand. Otherwise foreign investors may move their production base to our neighboring countries such as Vietnam, Malaysia.

'In case the political uncertainty is still ongoing, the growth rate of Q3 and Q4 Thailand's economics will be slow compared to the same period of last year which may influence to next year's investment plan of both Thai and foreign investors. Although Amata has revised our land sales, we believe that our business will grow in term of market share proportion. And we expect that the official opening of new airport on September 28, 2006 will attract foreign investors to our Amata Nakorn industrial estate, as it is very close to the new airport' Mr.Viboon said.

Mr.Viboon added more that for Amata businesses, we have planned to provide all concerned facilities and utilities to our clients. Amata has continuously developed those services to make our clients' production more efficient with the expansion of electricity capacity of our power plant, the development of water supply system, a commercial zone and our new ready built factory for lease etc.

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