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