Amata gains $4m from Vietnam firm

Amata gains $4m from Vietnam firm

BANGKOK: Thailand's Amata Corporation PCL on Sunday announced
a US$4-million profit from its industrial estate in Vietnam for
the first three quarters of 2005, nearly double its profit for
the whole of 2004.

Amata, one of Thailand's leading industrial estate operators,
set up the Amata City Bien Hoa Industrial Park in the southern
Dong Nai province in 1995 as a joint venture with the Vietnamese
government.

Amata's business development director Somhatai Panichchiva
said revenues were growing by 15 percent to 25 percent a year,
and had generated a profit of $4 million during the first nine
months of the year, compared with $2.1 million for the whole of
2004, reported the Thai News Agency.

Most of the factories located at the Bien Hoa estate are owned
by Taiwanese and Japanese investors, she said.

Somhatai said 2006 plans include a new commercial and
residential complex in Bien Hoa district, and investing in a new
2,880-hectare industrial estate to serve as a logistics hub for
Ho Chi Minh City airport. -- DPA