FTREIT AGM 2020 approves a general mandate for the issuance of debentures for future investment

Event Calendar Press Releases Wednesday January 29, 2020 13:14
Bangkok--29 Jan--Five W&H Communication
  • FTREIT reported total revenue for FY2019, from 1 October 2018 to 30 September 2019, of 2,807.1 million Baht, a 30.9% increase y-o-y, bringing distribution payment for FY2019 to 0.6680 Baht per unit, a 4.7% increase y-o-y. Portfolio occupancy rate was healthy at 83.1% and renewal rate was maintained at 86% in FY2019.
  • Unitholders approved the capital increase by approving a general mandate for the issuance of additional trust units of not exceeding 780,716,114 trust units, and the issuance and offering of debentures with the maximum outstanding amount at any time not more than14,000 million Baht for investment in the additional assets and/or repayment of borrowings due in the future.

Mr. Peerapat Srisukont, Managing Director of Frasers Property Industrial REIT Management (Thailand) Company Limited or "FIRM", as the manager of FTREIT, announced FTREIT's performance for the full year ended 30 September 2019 at FTREIT's Annual General Meeting 2020. The meeting acknowledged FTREIT's recorded total revenue of 2,807.1 million Baht for FY2019, an increase of 30.9% y-o-y, while net investment income was 1,739.2 million Baht, an increase of 31.6% y-o-y. The portfolio recorded a higher occupancy rate at 83.1% and the renewal rate was maintained at 86%. As of 30 September 2019, FTREIT has assets under management totaling 554 units, worth in aggregate 37,049 million Baht, with leasable area of 1,678,475 sqm in key strategic industrial and logistics areas across Thailand, making FTREIT the largest industrial and logistics REIT in Thailand.

Additionally, unitholders approved the capital increase of FTREIT by approving a general mandate for the issuance of additional trust units of not exceeding 780,716,114 trust units, and the issuance and offering of debentures of FTREIT with the maximum outstanding amount at any time totaling not more than 14,000 million Baht for the purposes of investment in the additional assets of FTREIT in the future and/or repayment of borrowings which will be incurred from the investment in the additional assets of FTREIT and/or due in the future.

"For 2020, FIRM as the REIT Manager plans to study the possibility of investing in real estate from Frasers Property Thailand and third parties to deliver sustainable growth through strong asset management and maintaining high renewal and occupancy rates. We are confident of delivering strong performance going forward and will continue to look for investment opportunities to deliver a stable and sustainable growth distribution to unitholders" Mr. Peerapat said.

About Frasers Property Industrial REIT Management (Thailand) Company Limited (FIRM)

Frasers Property Industrial REIT Management (Thailand) Company Limited (FIRM) is a subsidiary of Frasers Property (Thailand) Public Company Limited, the leading integrated real estate platform with multi-asset class expertise. Founded in May 2013, FIRM is a non-financial company approved by SEC to operate as the manager of Frasers Property Thailand Industrial Freehold & Leasehold REIT (FTREIT). FIRM formulates investment strategy for FTREIT and manages its interests in the assets. FTREIT's investment is not limited to Frasers Property's assets: high-potential assets from non-Frasers Property developers are also taken into consideration. Moreover, FIRM keeps looking out for opportunities in other investment models to boost its revenues even further, such as in sale & leaseback and asset enhancement initiatives, etc. under the management of its multitalented team.

For more information, please visit ftreit.co.th or frasersproperty.co.th
About Frasers Property Thailand Industrial Freehold & Leasehold REIT

Frasers Property Thailand Industrial Freehold & Leasehold REIT (FTREIT) is a real estate investment trust (REIT) listed on the Stock Exchange of Thailand (SET) and currently the largest industrial REIT in the country. As of 30 Sep 2019,FTREIT has assets worth over THB 37,049 million. FTREIT's investment portfolio is presently comprised of 554 units of factories and warehouses, representing an area of over 1.68 million square meters, all of them high-quality properties strategically located in key industrial areas of Thailand, such as Ayutthaya, Pathum Thani, Samut Prakan and the Eastern Economic Corridor (EEC) area. Acquired complete with tenancies of world-class companies from various industries, including next-generation automobiles, logistics and electronics, these income-producing assets have a high occupancy rate around 83%. Moreover, FTREIT was assigned with an 'A/Stable' rating, which is the highest credit rating among Industrial and logistics REITs in Thailand.

For more information, please visit ftreit.co.th
About Frasers Property (Thailand) Public Company Limited

Frasers Property (Thailand) Public Company Limited ("FPT") is a subsidiary of Frasers Property Group. FPT aims to be a leading integrated real estate platform with multi-asset class expertise. Today, FPT is one of Thailand's largest industrial & logistics property companies that is well-positioned for growth, with the strategic acquisition of Golden Land Property Development Public Company Limited ("GOLD") in 2019 further strengthening FPT as a leading residential, commercial and hospitality property company in Thailand. FPT is also the sponsor and manager of Thailand's largest industrial REIT, Frasers Property Thailand Industrial Freehold & Leasehold REIT ("FTREIT"), which is focused on industrial and logistics properties in Thailand; while GOLD is a sponsor and property manager of Golden Ventures Leasehold Real Estate Investment Trust ("GVREIT"), a REIT focused on commercial properties. FPT, GOLD, FTREIT and GVREIT are listed on the Stock Exchange of Thailand.

For more information on FPT, please visit: frasersproperty.co.th
About Frasers Property Limited

Frasers Property Limited ("Frasers Property" and together with its subsidiaries, the "Group"), is a multi-national company that develops, owns and manages a diverse, integrated portfolio of properties. Listed on the Main Board of the Singapore Exchange Securities Trading Limited ("SGX-ST") and headquartered in Singapore, the Group has total assets of approximately S$37.6 billion as at 30 September 2019.

Frasers Property's assets range from residential, retail, commercial & business parks, to industrial & logistics in Southeast Asia, Australia, Europe and China. Its well-established hospitality business owns and/or operates serviced apartments and hotels in over 70 cities across Asia, Australia, Europe, the Middle East and Africa. The Group is unified by its commitment to deliver enriching and memorable experiences to customers and stakeholders, leveraging its knowledge and capabilities from across markets and property sectors, to deliver value in its multiple asset classes.

Frasers Property is also the sponsor of three real estate investment trusts and one stapled trust listed on the SGX-ST. Frasers Centrepoint Trust, Frasers Commercial Trust, and Frasers Logistics & Industrial Trust are focused on retail, commercial & business parks, and industrial & logistics properties respectively. Frasers Hospitality Trust (comprising Frasers Hospitality Real Estate Investment Trust and Frasers Hospitality Business Trust) is a stapled trust focused on hospitality properties. In addition, the Group has two real estate investment trusts listed on the Stock Exchange of Thailand. Frasers Property Thailand is the sponsor of Frasers Property Thailand Industrial Freehold & Leasehold REIT, which is focused on logistics and industrial properties in Thailand and Golden Land Property Development Public Company Limited is the sponsor of Golden Ventures Leasehold Real Estate Investment Trust, which is focused on commercial properties.

For more information on Frasers Property, please visit www.frasersproperty.com

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