Jareeporn Jarukornsakul, group chief executive at WHA, said that the company is studying the use of an ICO, which is often a useful channel to mobilise capital, given there are no interest costs.
The company has credit worthiness, as its businesses and assets can be used as underlying assets for the ICO, she said.
Such offerings allowing companies to raise capital through the first sale of virtual tokens to the public and have recently gained increased interest among listed companies in the Thai exchange, although clear regulations have not yet been put in place.
WHA estimates this year’s income will jump 25 per cent from last year, following improvement in Thailand’s economic conditions, while investment promotion in the Eastern Economic Corridor (EEC) will help boost income of the company’s industrial estate business, she said.
This year, the company expects sales of land of around 1,400 rai (224 hectares) and customers are now negotiating over 1,000 rai.
Of total land now being negotiated, 300 rai are under discussion with a big customer from Europe worth about Bt1 billion, expected to be finalised in the first or second quarter of this year, Jareeporn said.
Finance Ministry permanent secretary Somchai Sujjapongse said that a working group assigned by the prime minister will come up with regulations for investments in digital currencies or bitcoin and the direction is expected to be finalised within one month.