Pinthong Industrial Estate
Pinthong Industrial EstateRegulatory · 2026-04-21 00:00
Pinthong Industrial Park PCL clarified to the SEC its decision to sell warehouse buildings and utilities to related party Jutawan Co., Ltd. for 779.89 million baht.
Pinthong Industrial Park PCL (PIN) provided a detailed explanation to the Securities and Exchange Commission (SEC) regarding its board's resolution to sell warehouse buildings and utilities of its logistics park project to Jutawan Co., Ltd. (JTW), a related party. The company also addressed concerns about the initial development on JTW's land and measures to prevent conflicts of interest.
This clarification highlights PIN's strategic shift from direct warehouse ownership to focusing on industrial park development, aiming for higher returns and improved liquidity. The move allows PIN to reallocate capital to its core business amidst increased competition in the warehouse leasing market.
Fast Facts
- ·Seller: Pinthong Industrial Park Public Company Limited (PIN)
- ·Buyer: Jutawan Company Limited (JTW), a related party
- ·Assets sold: Warehouse buildings and utilities of Logistics Park project
- ·Total sale value: 779.89 million baht
- ·Warehouse building value: 772.41 million baht
- ·Board meeting approval date: February 24, 2569 (2026 CE)
- ·Strategic shift: From warehouse leasing to industrial park development
- ·Conflict of interest measure: JTW to not compete with PIN for 3 years after ceasing to be a related party, with first right of refusal for PIN on JTW's land/buildings
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Pinthong Industrial Park PCL clarified to the SEC its decision to sell warehouse buildings and utilities to related party Jutawan Co., Ltd. for 779.89 million baht.