JWD Invests ฿495Mn to Acquire a Holding Company Engaging in Container Port Operations

JWD invested 495 million baht to acquire Smilesun, a holding company engaging in the business of container port operations.

JWD InfoLogistics Public Company Limited (JWD) announced that the Board of Directors’ Meeting No. 4/2021 held on 23 July 2021 has passed a resolution to approve JWD Transport (Thailand) Co., Ltd. (JTS), the Company’s subsidiary in which the Company holds its shares at the proportion of 75.0% of the total number of voting shares, to invest in Smilesun Co., Ltd. (Smilesun) through the acquiring of common shares and preferred shares accumulated to the total of 3,601 shares, representing 36.0% of the total registered shares of Smilesun. This total number of shares consists of 1,441 common shares and 2,160 preferred shares with the total amount of investment of THB 495,021,600.

Smilesun is an investment holding company, which owns 99.9% of the total number of voting shares in Thai Port Ventures Co., Ltd. (TPV). TPV in turn holds 51.0% of the total number of voting shares of Eastern Sea Laem Chabang Terminal Co., Ltd. (ESCO) (the Core Company). ESCO is principally engaged in the business of container port operations, and services relating to the distribution of goods and logistic support.


JWD expected to enter into the relevant definitive agreements and complete the transaction within October 2021.


JWD foresees that Container Terminal Operation and Inland Container Depot businesses of ESCO, are potential and high growth opportunities both during good and bad economic conditions. Therefore, the businesses have ability to generate satisfactory returns for JWD Group after entering into the transaction.


The acquisition of shares in Smilesun, which has ESCO as the core company and operating Container Terminal Operation and Inland Container Depot, would bring business partnership to JWD and further lead to significant synergies that would result in the further growth of JWD group, especially opportunity to expand its logistics infrastructure business.


JWD stated that the company will use cash flows and long-term loans, which have no material impact on the Company’s core operations for the investment.

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