M P J Logistics Public Company Limited

Several Thai listed companies announced business updates at the same time. GULF disclosed that three joint ventures signed project loan agreements totaling no more than 8.6 billion baht with a 22-year tenor to develop three wind power projects with combined capacity of 208 megawatts. Commercial operation dates are expected to be phased in during 2027, with 25-year power purchase agreements with EGAT. Meanwhile, SCGP is spending 9.846 billion baht through Siam Kraft Industry Company Limited, a wholly owned subsidiary, to expand gypsum board paper production capacity in Kanchanaburi province by another 400,000 tonnes per year, with commercial operations expected in the fourth quarter of 2028. MPJ reported second-quarter 2026 net profit of 51.1 million baht, up 69.2 percent, and first-half profit of 74.8 million baht, up 25.1 percent, while maintaining this year's revenue target of 1.264 billion baht, growth of 18 percent, and preparing capital spending of more than 1.14 billion baht over the next two to three years, including expanding its Laem Chabang container yard by another 28 rai, with service expected to begin in the second quarter of 2027. SUPER signed a long-term credit facility with the Bank for Investment and Development of Vietnam worth 8.3 trillion dong, or about 1.065 billion baht, to support phase one of the Soc Trang Wind Power Plant with capacity of 30 megawatts. The loan has a 15-year tenor. WICE unveiled its second-half 2026 strategy, moving forward with expanding its customer network and regional trade routes, while also entering the US market and expanding its service area to 158,020 square metres.

MPJ announced second-quarter 2026 results, setting a new record with net profit of 51.1 million baht, up 69.2% from the same period last year, and total revenue of 321.4 million baht, up 20.4%. For the first six months of 2026, net profit was 74.8 million baht, up 25.1%, and service revenue was 601.2 million baht, up 12.1%. The company expects second-half 2026 business trends to have a chance to grow better than the first half, in line with the logistics industry and international trade, which are still expanding. In the first five months of 2026, Thailand's import value rose 27.2%, exports rose 9.6%, and container volume through Laem Chabang Port rose 5.6%. MPJ has set a capital expenditure budget of more than 1.14 billion baht to support growth over the next two to three years, along with expanding its container yard in the Laem Chabang area by about 28 rai, expected to open for service in the second quarter of 2027. The company also maintains its 2026 total revenue target of 1.264 billion baht, growth of 18%.

M P J Logistics Public Company Limited, or MPJ, reported second-quarter net profit for fiscal 2026 of 51.1 million baht, up 69.2% from the same period last year. Service revenue came in at 321.4 million baht, up 20.4%, while gross profit was 85.3 million baht, up 31.9%. For the first six months of 2026, net profit reached 74.8 million baht, up 25.1%, on revenue of 601.2 million baht, up 12.1%. Chief Executive Officer Jirasak Manatrakul said the growth came from expanding container yards and warehouses in the Eastern Economic Corridor, or EEC, to support foreign investment inflows. The company expects full-year operating cash flow of no less than 160 million baht, with a current return on equity of 17.6%, compared with an industry average of 6.2%, and an interest-bearing debt-to-equity ratio of only 0.32 times. The overall logistics industry continues to benefit from Thailand's 2025 import and export value of 22.6 trillion baht, up 5.5%, and container throughput at Laem Chabang Port of 10.3 million TEUs, up 8.5%. Foreign investment in the EEC accounted for 64.4% of total investment promotion applications worth 1.4 trillion baht, up 66.1%.

MPJ Logistics, or MPJ, has partnered with OOCL Logistics to open OM Depot Bangkok, a new container yard spanning 38,400 square metres in the strategic location of Lat Krabang. The facility supports container throughput of up to 10,000 TEUs per month, with trial operations beginning in January 2026 and average monthly throughput already reaching 7,500 TEUs, quickly pushing utilisation to 70%. This collaboration expands the customer base and links end-to-end logistics networks from Laem Chabang to central Bangkok and surrounding areas. It also reinforces positive signals from a strongly recovering logistics industry and represents a new S-curve that increases recurring revenue, strengthens cash flow stability, and creates long-term value for shareholders.