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Jan 2014 WHA Management Roadshow WHA Corporation Public Company Limited

The information contained in this presentation is for information purposes only and does not constitute an offer or invitation to sell or the solicitation of an offer or invitation to purchase or subscribe for share in WHA Corporation Public Company Limited (“WHA” and shares in WHA, “shares”) in any jurisdiction nor should it or any part of it form the basis of, or be relied upon in any connection with, any contract or commitment whatsoever. In addition, this presentation contains projections and forward-looking statements that reflect the Company's current views with respect to future events and financial performance. These views are based on a number of estimates and current assumptions which are subject to business, economic and competitive uncertainties and contingencies as well as various risks and these may change over time and in many cases are outside the control of the Company and its directors. You are cautioned not to place undue reliance on these forward looking statements, which are based on the current view of the management of the Company on future events. No assurance can be given that future events will occur, that projections will be achieved, or that the Company's assumptions are correct. The Company does not assume any responsibility to amend, modify or revise any forward-looking statements, on the basis of any subsequent developments, information or events, or otherwise. These statements can be recognized by the use of words such as “expects,” “plans,” “will,” “estimates,” “projects,” or words of similar meaning. Such forward-looking statements are not guarantees of future performance and actual results may differ from those forecast and projected or in the forward-looking statements as a result of various factors and assumptions.

Disclaimer

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Agenda

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• WHA provides logistics facilities to manufacturers, retailers and third-party logistics providers. Also, we provide best solution of logistics infrastructure for MNCs and local enterprises.

• We offer Built-to-Suit Development services that include customized site location, design, construction and delivery of warehouse, distribution center and factory to meet clients’ satisfaction and needs.

WHA Corporation PCL. (WHA)

Rental Business

Warehouse/ Distribution Center/ Factory

Other Recurring-Income Business

Property for Sales

Warehouse Farm

Built-to-Suit

• World-class standard for customers’ specific needs

• Leasable area:

10,000-70,000 sqm.

• Combination of built-to-suit and ready-built project within same site

• Leasable area:

- Built-to-suit 10,000-20,000 sqm.

- Ready-built 4,000-5,000 sqm.

• Monetization of its rental assets to this vehicle

Sale to Existing Tenants

WHAPF

Return from

Investment of WHAPF

(Dividend)

Property Manager Fee

• Property manager to WHAPF

Sale and Leaseback

Business Overview

2011 RESTRUCTURING • WHA Corporation restructured itself by

acquiring 99.99% of WHA Alliance from CWT (Singapore) and co-founder, as well as 99.99% of Warehouse Asia Alliance from GLOMAC (Malaysia) and co-founder to become WHA Corporation’s subsidiaries.

• Development of first warehouse farm on Bangna-Trad km.18 with the leasable area of 72,179.48 sqm

2012 BECAME LISTED • Monetization of 3 warehouses and 1

factory to WHAPF with the value of THB 1,827mm (107,277 sqm)

• On Nov 8, 2012, WHA Corporation became to be listed Co. and first traded in SET, raising up the capital to THB 1,709mm or USD 56.97mm

• The post-IPO paid-up capital was THB 510mm

2013 GROWING PHASE • Monetization of the assets to WHAPF

with the value of THB 2,046mm (69,529 sqm) in the 1st quarter and injected another lot of THB 4,536mm worth of assets (173,367 sqm) to WHAPF in 4th Quarter which makes total fund size of THB 9,308mm

• This year WHA offered 2 stock dividends to existing shareholders on May, 2013 (5:1) and on September, 2013 (2:1)

• WHA is rated A- with stable outlook by Fitch Ratings (Thailand)

2010 THE RISE OF PROPERTY FUND

• Establishment of WHAPF (initially known as M-WHA) with the total fund size of THB 1,283mm or USD 42.77mm with total leasable area of 39,808.80 sqm. of 2 warehouses and 1 factory

2003 - 2009 THE BIGGEST DC IN SOUTHEAST ASIA

• Establishment of WHA Alliance and partnership with CWT (Singapore) to develop first distribution center on Bangna-Trad km.20 with leasable area of 53,000 sqm, followed by expansion phase for 10,900 sqm

2006 - 2007 WHA’S FIRST DC

• Establishment of Warehouse Asia Alliance and partnership with GLOMAC (Malaysia) to develop distribution center for DKSH Healthcare on Bangna-Trad km.19 with leasable area of 53,000 sqm

Key Milestones and Developments

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Warehouse Asia Alliance

(Registered and Paid-up Capital THB 310 mm)

WHA Alliance

(Registered and Paid-up Capital THB 260 mm)

WHAPF

NAV per unit –THB 10.50 Paid-Up Capital–THB 9,390.6 mm

WHA Gunkul GSR

8 newly setup JVs with Gunkul for solar roof projects

Total capacity awarded as at Oct 21, 2013 of 4.28 MW

99.9% 15.0% 75.0%

WHA Corporation PCL. (WHA)

(Registered and Paid-up Capital THB 918 mm)

Group Structure

WHA KPN Alliance

Regist. Capital – THB 768 mm Paid-up Capital – THB 384mm

76%

24%

Acquisition ValueFreehold Leasehold

29%

71%

Acquisition valueFactory Warehouse & DC

67%

33%

Area (Sqm.)Freehold Leasehold

23%

77%

Area (Sqm.)Factory Warehouse & DC

65.0%

6

99.9%

7

Shareholding Information

Top 10 Shareholding Structure

Paid-Up Capital

THB 918mm

Major shareholders 62.70 %

Other pre-IPO shareholders* 7.20%

Post-IPO Investors 30.10%

Shareholder No. of Share

(After XD) %

1) WHA Holding Co., Ltd. 230,418,000 25.10

2) Mrs. Jareeporn Anantaprayoon 176,786,910 19.26

3) Mr. Somyos Anantaprayoon 168,686,964 18.38

4) Mr. Sompong Chonkadeedumrongkul 78,785,250 8.49

6) Mr. Wutt Jarukornsakul 18,720,000 2.04

7) Ms. Supitchaya Phupisut 10,632,000 1.16

8) Ms. Nalinrat Sae Aung 10,051,500 1.09

9) Mrs. Chaleow Srichaiwat 9,936,000 1.08

10) Mr. Jakrit Chaisanit 9,052,500 0.99

11) State Street Bank Europe Limited 8,351,400 0.91

Share Overview

*Remark: As of September 5, 2013

*Remark: Include relatives and management directors

Ticker Reuter WHA.BK

Ticker Bloomberg WHA TB

Par Value (Bt) 1

Market Capitalization THB 21,572.82mm

Market Capitalization (USD) USD 651.83mm

Average 1-Year Daily Turnover 0.43%

Share Issued (share) 917,992,494

12-Month High/Low Price 62.75/23.50

Foreign Limit 49%

Free Float Approx. 24.31%

Dividend Policy ≥40% of Net profit

*Remark: Figures as of January 3, 2014

Shareholding Information

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To focus on Built-to-Suit

Developments to satisfy specific customers’ requirements

To provide high-quality logistics and warehouse/ distribution center/ factory to customers

To strategically grow portfolio

Recycling capital to enhance shareholder value

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2

3

4

Providing total solutions across the logistics value chain

Delivery of premium-quality product Growing size and scale of domestic markets both ‘existing’ Build Scale and ‘new’ strategic locations Embark on new markets to serve customers

To optimize capital structure for financial flexibility and shareholder value through optimization of ROE

Company’s Business Platform and Strategies

Inquire all requirements in terms of location, specifications, cost and timing

Transportation and rental cost optimization

Traffic and distance management

Humidity and temperature control system

Special floor’s loading

Clear height ceiling space

Deliver as designed and promised (no project delay, no cost overrun, and meet project’s specifications)

Business partner to co-developing extension phase

Understand client’s preference

Flexible for expansion solution

Overall Project Advisory

Requirement Gathering

Location Identification

Project Design

Construction Management

Long-term Advisory and After-sale Service

Customer Requirements

Customer Satisfactions

WHA’s Total Solution

To establish long-term cooperative relationship with our customers by providing high quality properties and services

Sample of WHA

Service

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1) To Focus on the Built-to-Suit Development to Satisfy Customers’ Requirements

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Various Features of our High-Quality Warehouse and Distribution Center

Large Floor Area Clear Height High Load Tolerance Dock Leveler Wide Column Spacing

Burnished Floor Finish

One Continuous Metal Sheet Roof

Air Gap Roof Insulation

Natural Ventilation

Steel Pipe Structure

10,000-70,000 sqm. 10-13 meters 3-5 tons/sqm.

Mirror floor finish Eliminate the leakage

on the roof Lower inside temperature

Maximize wind flow Less dust

accumulation

Increase usable area Hydraulic Dock Leveler

2) To Provide High-Quality Logistics and Warehouse/ Distribution Center/ Factory to Customers

U-Tapao Airport

Bangkok Port

Laem Chabang Port

Map Ta phut Port

Bangna-Trad K.M.19

Bangna-Trad Km.18

Bangna-Trad Km.19

Lardkrabang

Chonburi

Bangna-Trad Km.20

Saraburi

Amata City

Bang pa-in

Wang-Noi K.M.61

Outer East Bangkok Zone (Bangna-Trad Rd, K.M.18-23) (Chonburi) (Lardkrabang) - Convenient access to the City Center of

Bangkok, Suvannabhumi Airport, and Laemchabang Seaport

Industrial Estate Zone (Hemaraj, Saraburi) (Amata City, Rayong)

- Tax privileges from BOI

- Comfortable access to Suvannabhumi Airport and Laemchabang Seaport

3 Outer North Bangkok Zone (Bang Pa-in, Ayuthaya) (Wangnoi, Ayuthaya)

- A logistic hub to North and Northeast region of Thailand

Note: Portfolio as of June 31, 2013 Built-to-Suit project

Warehouse Farm project

WHAPF Port

Airport

Best Strategic Locations in Logistic Hubs Area

Bangna-Trad Km.23

2

1

11

Prachinburi

Bangna-Trad Km.18

Chonlaharnpichitl

Laemchabang

3) To Strategically Grow Portfolio

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WHA has a business plan to develop logistics center at the strategic locations to serve upcoming AEC and our customers expansion…

3) To Strategically Grow Portfolio

Highly Stable CF from

Investment

Utilize Recurring

Income Stream

Well-balanced Portfolio and

Capital Structure

All Invested Assets Generate Revenue

100% Occupancy rate track records

To hold minimal non-income generating assets

Strong Stability of Rental Profit

Secured L-T contract with growth in rental

Appx. 85% EBITDA margin

Low maintenance cost

Capital Structure Optimization

Asset-Optimization Model

Optimization of return on equity (ROE) to shareholder through the asset monetization

program via PFPO/REIT to optimize long-term capital structure and achieve return-

enhancing strategy

Rental Business Developing Business

Expedited growth of investment

Earning from asset divestment

Recurring income from dividend and asset management fee

Complementary business model of property company with strong CF stability and PFPO/ REIT leads to accelerated growth, high efficiency, and high margin business model capturing full value chain

Capital Recycling Model

Through PFPO/REIT

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4) Recycling Capital to Enhance Shareholder Value

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Proven and Strong Track Record and Credentials in Thailand and SEA Region.

Pioneered Built-to-Suit Concept to Thai Logistics Market

Superior and Best-in-Class Warehouse, Distribution Center in Prime Locations

Like-Minded Logistic Consultant and Hands-on Management Team

Most Sophisticated Financial Engineering Tools to Serve the Capital-Intensive Business and Satisfy the Attractive Return on Capital to Shareholders

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2

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• WHA has become global contact for MNCs to expand and consolidate their hubs for AEC

• Tailor-made product to cater with each tenant’s specific requirements in order to optimize their long-term logistics costs

• With continuous research and development to improve the quality of our products e.g. floor (high-strength, super flat concrete), large continuous roof, natural ventilation, and ability to construct in each module concurrently to shorten the construction period

• Logistics mentality, dedicated top management to listen to clients’ requirements with in house design and construction management team to communicate with the clients directly

• Property Fund (WHAPF) • Upcoming Infrastructure Fund

Our Key Competitive Advantages

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Agenda

Date Description

Nov 12nd – Nov 14th RO Subscription Period

Nov 18th – Nov 22th PP/PO Subscription Period

Nov 25th Unit Allotment

Nov 28th Registration of New Capital

Nov 29th Asset Transfer

November 2013

S M T W Th F Sa

1 2

3 4 5 6 7 8 9

10 11 12 13 14 15 16

17 18 19 20 21 22 23

24 25 26 27 28 29

Asset Sales Price: Approx. THB 4,536 mm

Completion of WHAPF 3rd Capital Increase

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Upcoming Asset Divestment to WHAPF

Asset Leasable Area Tenant Snapshot

Distribution Center Ladkrabang Phase I & II

Khlong Sam Prawet, Ladkrabang, Bangkok

35,092.97 sq.m.

WHA Mega Logistics km 18

Bangna-Trad km 18, Samutprakarn

72,179.48 sq.m.

WHA Mega Logistics km 23

Bangna-Trad km 23, Samutprakarn

59,835.00 sq.m.

DSG Modification

Nongkae, Saraburi

-

2

3

1

4

WHAPF’s 4th Capital Increase of not more than THB 4,590 mm has been approved by WHAPF’s unitholders on 19 Dec 2013 In all, this allows WHA to divest assets with a total leasable area of 167,107.451) sq.m. to WHAPF expectedly in Q42014

1) Not include rooftop leasable area of 73,690.30

Upcoming Asset Divestment

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Asset Divestment Options

Possible Alternatives for the 4th Round of Asset Sale

Asset Divestment to WHAPF Base Case

Through WHAPF’s 4th capital increase

Convert WHAPF to

REIT

Divest assets to the converted REIT

Set Up a Standalone

REIT

Divest assets to the new set-up REIT

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2

3

WHA will gauge the best possible alternative upon the clearance of REIT regulation/REIT conversion and relevant transactions to maximize gain from asset sale

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66,218 sqm.

Additional Pre-leased Contract

New Locations

Occupancy Rate 100% and Retention Rate 100%

Additional Completed/

Leased Contract 149,926

sqm.

Total Pre-Leased

Area

254,574 sqm.

54,000 sqm.

Additional Land

Acquisition

Total Leased

Area

420,096

sqm.

Customers

4 New Customers

2 Existing Customers

Bangna-Trad Km.7

Business Highlights – Q3 2013

Impressive Track Record of Growth and 100% Occupancy Rate

Growth Phase Introduction Phase

WHA Group is the market leader with proven track record of high growth and impressive 100% occupancy rate

OR

100% 100% 100% 100% 100% 100% 100%

Total developed and occupied area (Owned by WHA)

Area sold to WHAPF

Unit: Sqm.

2006 – 2010 Originated the concept of Built-to-Suit warehouse

business model Develop one of the largest Built-to-Suit distribution

centers in Thailand Developed 3 world-class factories Set up WHAPF as a vehicle for supporting its growth

2011 - Present Introduced Warehouse Farm project Strengthen value capturing from asset monetization to

PFPO as continuous stream income and vehicle to expedite growth

298,139

192,341 169,433

141,619 141,619 88,913

505,051

39,809

147,086

39,809

Key Milestones

Developed/ Developing & Occupied area for 2006-2013

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357,965

100% 2006 2008 2007 2011 2010 2009 2012 Q3 2013

216,616

420,096

258,330

152,532

891,286

721,082

Land held for future development

Total Pre-leased Contract

254,574

1,612,368

WHA Group’s tenants are mainly the reputable MNCs

Remark: The information, shown in charts above, are calculated from leasable area (sqm.)

Well-Known Tenant Profile

Note: Portfolio as of November 1, 2013

*FMCG means Fast Moving Consumer Goods **3PLs means Third Party Logistics

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34%

9% 16%

36%

5%

Tenant Nationality

JP

USA

Asia

EU

TH

26%

24%

50%

Tenant Industry (Overall)

3PLS

Manufacturing

FMCG&Healthcare

**

*

36%

23% 5%

36%

Contract Term (WHA Group)

1-3 Y

>3-5 Y

>5-9 Y

>9 Y

27%

19%

13%

41%

Contract Term

(Overall)

1-3 Y

>3-5 Y

>5-9 Y

>9 Y

Top 10 Tenants

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Top 10 Tenants by Rental Income (WHA Group)

Top 10 Tenants by Rental Income (Overall*)

14% 13%

13%

8%

6% 6%

4% 4% 4% 4% Re

ven

ue

(TH

B m

m)

Tenants

33%

8% 8% 7% 5% 4% 4% 3% 3% 3%

Re

ven

ue

(TH

B m

m)

Tenants

Note: *Included all the assets divested to WHAPF

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Agenda

Unit : THB mm FY2011 FY2012 9M-Q3 2012 9M-Q3 2013

Rental and service income 220.9 359.9 241.5 342.9

Asset Sale - 1,808.9 1,808.9 2,046.5

Gain from asset sale - - - -

Dividend from WHAPF & property management fee

12.8 38.4 27.0 49.3

Other income 6.5 6.3 3.8 9.0

Total Normalized Revenues* 240.2 2,213.5 2,081.2 2,447.7

Gain from acquisition of subsidiaries

350.1 -

Total Revenues 590.3 2,213.5 2,081.2 2,447.7

Revenue Structure

Note: : *Exclude the gain from acquisition of subsidiaries amount of THB350.1 mm in FY2011. ** In FY2012 and FY2013, the Company recognized revenue from asset sale as its normal operating business instead of recording the gain from asset sale in 2010.

Rental & Service Revenue & GPM Leasable Area Growth

Asset Sales Business Revenue & GPM WHAPF – Leasable Area

Property Management Fee Dividend Received - WHAPF

24 v v v v

v v

-

500.0

1,000.0

1,500.0

2,000.0

2,500.0

3,000.0

FY2011 FY2012 9M-Q3 2012 9M-Q3 2013Other income

Dividend from WHAPF and property management fee

Asset Sale

Rental and service income

17.61%

240.2

2,081.2

2,447.7 2,213.5

1,274.6

1,808.9 1,808.9

2,046.5

1,148.2

1,617.1 1,617.1

1,922.7

0.0

500.0

1,000.0

1,500.0

2,000.0

2,500.0

FY2010 FY2011 FY2012 9M-Q3 2012 9M-Q3 2013

Asset Sale Revenue COGS

6.0%

GPM

10.6% 10.6% 10%

-

50,000

100,000

150,000

200,000

250,000

300,000

350,000

400,000

450,000

FY2010 FY2011 FY2012 Q3 2012 Q3 2013

0

10.6

32.3

22.5

42.4

0

5

10

15

20

25

30

35

40

45

FY2010 FY2011 FY2012 9M-Q3 2012 9M-Q3 2013

Dividend from WHAPF

0.1

2.2

6.1

4.4

7.0

0

1

2

3

4

5

6

7

8

FY2010 FY2011 FY2012 9M-Q3 2012 9M-Q3 2013

Property management fee

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

80.0%

90.0%

0.00

50.00

100.00

150.00

200.00

250.00

300.00

350.00

400.00

FY2010 FY2011 FY2012 Q3 2012 Q3 2013

Rental and service income COGS - Rental and service

GPM - Rental and service GPM - adjusted of asset reclassification

39,809 39,809 39,809 39,809 39,809

107,277 107,277 107,277

69,529

-

50,000

100,000

150,000

200,000

250,000

FY2010 FY2011 FY2012 9M-Q3 2012 9M-Q3 2013

IPO 1st PO 2nd PO

-

0.5x

1.0x

1.5x

2.0x

2.5x

3.0x

3.5x

4.0x

4.5x

-

2,000.0

4,000.0

6,000.0

8,000.0

10,000.0

12,000.0

14,000.0

FY2011 FY2012 Q2 2013 Q3 2013

Liabilities Equity D/E Ratio IBD/E Ratio

Assets and Capital Structure

Assets Composition Capital Structure

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Debt Profile Financial Cost

%

29.3%

22.4%

THB mm

29.3%

22.4%

18.4%

20.0%

60.3% 50.1% 54.6% 64.6%

59.6%

14.4%

18.4%

20.0% 22.4%

29.3%

5,188.0

8,297.5

7,215.3

8,678.3

12.005.9 4.0x

2.9x

0

1

2

3

4

5

6

7

0

20

40

60

80

100

120

140

160

2011 2012 9M-Q3 2013

6.5%

5.5%

5.1%

-

2,000.0

4,000.0

6,000.0

8,000.0

10,000.0

12,000.0

14,000.0

FY2011 FY2012 Q1 2013 Q2 2013 Q3 2013

Cash Advance for construction Non current assets available for sale

Investment in available for sale securities Investment property Other assets

60.3% 50.1% 54.6% 64.6% 59.93%

14.47%

18.4%

20.0% 22.4%

29.3%

1.7x

1.4x

2.3x

2.0x

3.1x

2.4x

11%

51%

38% Short-term loan

Long-term loan

Long-term bond

12,005.9

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Agenda

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27

Balance Sheet

WHA Corporation Public Company Limited

Statement of Financial Position

As at 30 September 2013

Q2 2013 Q3 2013 %

MB MB Change

Current assets

Cash and cash equivalents 84 1,645 1858%

Advance for construction and deposit 127 127 0%

Non-current asset held-for-sale 1,593 1,737 9%

Total Current assets 1,852 3,609 95%

Non-current asset

Investment available-for-sale 867 851 -2%

Investment properties (net) 5,467 7,054 29%

Other non-current assets (net) 302 291 -4%

Total Non-current assets 6,827 8,396 23%

Total Assets 8,678 12,006 38%

Current liabilities 3,050 3,973 30%

Non-current liabilities 2,690 5,115 90%

Total liabilities 5,740 9,084 58%

Total Shareholders' equity 2,938 2,922 -1%

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Income Statement

WHA Corporation Public Company Limited

Statements of Comprehensive income

For the three-month period ended 30 September 2013

Q3 2012 Q2 2013 Q3 2013 % %

MB MB MB QoQ YoY

Rental and services income 84 106 140 32% 67%

Income from sale of investment properties

0 0 0 0% 0%

Dividends 10 14 14 -2% 40%

Other income 2 5 4 -17% 114%

Total Income 96 125 158 26% 64%

Cost of rental and service 27 34 45 32% 63%

Cost of investment properties 0 0 0 0% 0%

Total Cost 27 34 45 32% 63%

Operating profit 56 72 95 32% 69%

Net profit 15 22 30 36% 100%

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Income Statement (Cont.)

WHA Corporation Public Company Limited

Statements of Comprehensive income

For the nine-month period ended 30 September 2013

Q3 2012 Q3 2013 %

MB MB YoY

Rental and services income 242 343 42%

Income from sale of investment properties 1,809 2,046 13%

Dividends 23 42 88%

Other income 8 16 95%

Total Income 2,082 2,447 18%

Cost of rental and service 84 119 41%

Cost of investment properties 1,617 1,923 19%

Total Cost 1,702 2,042 20%

Operating profit 349 348 0%

Net profit 189 174 -8%

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“Target at Well-known MNCs”

“Currently 80% of our customers are well-known MNCs because they realize the importance of logistic system that can substantially save their operating costs. Even though our price per sq.m. is 30-50% over that of the industry average, it’s worth investment for them”

Source: Business Thai

“ The largest premium warehouse in Southeast Asia”

“WHA aims to build large distribution centers that suit the customer’s specific needs. Right now, we are the largest premium warehouse in Southeast Asia constructed under well accepted international standard and equipped with innovative technology”

Source: logistic Digest

Dr. Somyos Anantaprayoon

Chief Executive Officer

A Director since incorporation

Group’s CEO who originated the idea of world-class standard Built-to-Suit Warehouse and DC

Ms. Jareeporn Anantaprayoon

Managing Director

A Director since incorporation

Assist the CEO in business strategy development

Responsible for Group’s sales and marketing

Mr. Surathian Chakthranont

Director

Advise on business strategy &plan

Previous President of SC Asset Corporation, PCL (1995 – 2005)

More than 10 years experience in Real Estate sector

Dr. Pichit Akrathit

Independent Director

Chairman of the Audit Committee

An advisor to several leading companies

Mr. Jakrit Chaisanit

Director

Head of Construction Management Division

Mr. Narong Kritchanchai

Director

Mr. Somsak Boonchoyruengchai

Director

Head of Accounting division

Dr. Somsak Pratomsrimek

Independent Director

Member of the Audit Committee

Dr. Kritsana Sukboonyasatit

Independent Director

Member of the Audit Committee

Mr. Chakkaphob Nuangchamnong

Executive director

Head of Business Development Division

Mr. Arttavit Chalermsaphayakorn

Executive Director

CFO

“WHA Expertise”

“WHA Corporation is regarded as the world class built-to-suit warehouse developer with strong reputation in selecting prime location, operational efficiency and after sales service”

Source: www.freightmaxad.com

Board of Director and Management Team

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1121 Moo.3 Theparak Rd., Theparak, A. Muang, Samutprakarn 10270 Thailand Tel. +66 (0) 2 753 3750 Fax. +66 (0) 2 753 2750 e-mail: info@wha.co.th Website: www.wha.co.th

WHA Corporation PCL.