- Portfolio occupancy rate was healthy at 85.1%, increased of 2% from the previous quarter. Announced a distribution of 0.1670 Baht per unit for 1QFY20.
- Acquiring over 2 billion Baht worth of assets from a non-group entity - Sahathai Property & Development Co., Ltd. further cementing FTREIT's status as the largest industrial and logistics REIT in Thailand with total assets value of 39,182.79 billion Baht.
Frasers Property Thailand Industrial Freehold & Leasehold REIT or "FTREIT" announced 1QFY20 performance ended 31 December 2019.
Frasers Property Industrial REIT Management (Thailand) Company Limited or "FIRM" as the REIT manager of FTREIT announced 1QFY20 performance, net investment income of 482.50 million Baht from total revenue of 763.16 million Baht.
Effective portfolio management resulted in a higher occupancy rate from 83.1% in the last quarter to 85.1%. The strong performance reflected FIRM's ability to secure new high-quality tenants for FTREIT's factory and warehouse portfolio as well as efficient management in cost and operational expenses. The Board of FIRM approved a distribution payment of 0.1670 Baht per trust unit.
During 1QFY20, FTREIT acquired warehouses from Sahathai Property & Development Co., Ltd. located in Chonburi province, located nearly to Laemchabang deep-sea port and Laemchabang Industrial Estate. The acquisition covered approximately 125 rai of land with warehouse of 11 buildings (24 units), total leasable area of 80,216 sq.m., total valued at 2.05 billion Baht. Accordingly, FTREIT maintained its position as the largest industrial and logistics REIT in Thailand with total asset value under its management of 39,182.79 billion Baht.
Mr. Peerapat Srisukont, Managing Director of FIRM, concluded "Currently, FTREIT's assets under management consists of 578 units of factories and warehouses, representing an area of 1.76 million sq.m., all located in strategic areas for industrial and logistics sectors of Thailand in Ayuthaya, Pathumthani, Samut Prakan, and provinces in the Eastern Economic Corridor.
The REIT manager is confident to deliver strong occupancy rates and cost-effectiveness for the fiscal year 2020. Additionally, FIRM continues to be on a look-out for potential investment opportunities to generate sustainable and high return to unitholders of FTREIT."
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 with assets worth over 39,182 million Baht. FTREIT's investment portfolio is presently comprised of 578 units of factories and warehouses, representing an area of 1.76 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). Acquired complete with tenancies of world-class companies from various industries, including next-generation automobiles, logistics and electronics, as of 31 December 2019, FTREIT has occupancy rate at 85%. Moreover, FTREIT was assigned with an 'A/Stable' rating, which is the highest credit rating among all 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"), a subsidiary of Frasers Property Group is a leading integrated real estate platform with multi-asset class expertise. FPT through its subsidiary, Golden Land Property Development Public Company Limited ("GOLD") has businesses in Industrial, Residential, Commercial and Hospitality property 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 "Frasers Property Group" or the "Group"), is a multi-national owner-operator-developer of real estate products and services across the property value chain. 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$38.8 billion as at 31 December 2019.
Frasers Property's multi-national businesses operate across five asset classes, namely, residential, retail, commercial & business parks, to industrial & logistics as well as hospitality. The Group has businesses in Southeast Asia, Australia, Europe and China, and 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.
Frasers Property is also the sponsor of three real estate investment trusts ("REITs") 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 REITs listed on the Stock Exchange of Thailand. Frasers Property (Thailand) Public Company Limited 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 and hospitality properties.
The Group is unified by its commitment to deliver enriching and memorable experiences to customers and stakeholders, leveraging its people, knowledge and capabilities from across markets and property sectors, to deliver value in its multiple asset classes.
For more information on Frasers Property, please visit frasersproperty.com