WHA CORPORATION Plc. (WHA): 2Q26E Presales (Ex-DC) Improve, With Momentum Continuing Into 2H26E
Although we expect 1H26E land presales and transfers to come in at a modest 1,200 rai and 601 rai, respectively, the company has continued to have...
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WHA Corporation Plc. (WHA): 1Q26 Land Transfers Declined From High Base
Although 1Q26 core profit declined YoY and QoQ as expected, with the majority of backlog land transfers scheduled for 2Q-3Q26E (excluding a major...
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WHA CORPORATION Plc. (WHA): 1Q26E Core Profit Likely Declined YoY And QoQ On A High Transfer Base
The impact from Middle East tensions remains limited, as demand from DC, EV, and electronics clients continues to support investment in Thailand.
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WHA CORPORATION Plc. (WHA): Soft 4Q25 Presales As DC Client Delayed To 1Q26E
While 4Q25 presales were low at 82 rai, more than 1,000 rai from a major data center (DC) client are expected to be booked as presales in 1Q26E.
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WHA CORPORATION Plc. (WHA): 4Q25E Transfers Likely Surged Despite Softer Presales
We raise 2025–27E core profit forecasts, reflecting stronger 4Q25E transfers driven by the recognition of 450 rai from a third plots of data center...
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