WICE Affirms ฿1.8bln in Revenue, Logistics Across Asian Borders are in Listing Process

As the trade war goes on between the U.S. and China, WICE Logistics Public Company Limited (WICE) whose business focuses on international logistics service and solution providers has assures that its businesses do not receive any effects from the growing trade war tension.

 

Mr. Chudet Kongsoonthorn, WICE’s director, believes that WICE will surely reach 1.8 billion baht in revenue as predicted. There is also a plan for a joint venture to establish a logistic company namesd Euro Asia Total Logistics to transport merchandises across Asian borders. WICE will hold a majority stake at 40% along with two individuals, and expect the listing process will be completed within September before proceeding on further steps at the end of 2018.

Mr. Chudet also inserts that instead of receiving fewer orders, WICE has growing number of orders from China and other countries in Asia. The reason might be due to changing in partners, which benefits WICE the most as it serve various kind of logistic services.

 

WICE’s boards are certain that the 2H18 revenue will be better than 1H18 when there are no extraordinary item to be considered in this second half and this period of the year is WICE’s high season.

The company also plans to expand the business with its subsidiaries which are Singapore’s Sun Express Logistics and China and Hong Kong’s Universal Worldwide Transportation Limited (UWT).

 

Moreover, WICE will start to realize an income in succession from the Chinese solar-panel warehouse management and administration in 3Q18.

Thus, WICE is confident that the company will grow 30%, comparing to the same period of last year. The company will earn 1.8 billion baht as mentioned with 8% net profits instead of 6% in 1H18.