#SHREIT announces distribution payment at 0.19 baht per unit following H1/2019 net profit rising to 81.33 million baht

Stocks and Financial Services Press Releases Thursday August 15, 2019 11:18
Bangkok--15 Aug--MT Multimedia

Strategic Hospitality Extendable Freehold and Leasehold Real Estate Investment Trust ("SHREIT") announced a revenue of 201.76 million baht with a net profit of 81.33 million baht for H1/2019 and a distribution payment as derived from the Q2/2019 performance to SHREIT shareholders at 0.19 baht per share. The REIT Manager also expected that the acquisition of new assets will be concluded soon.

Mr. Patan Somburanasin, Managing Director of Strategic Property Investors Co., Ltd. (SPI), an independent professional REIT management firm, and the manager of SHREIT, revealed that SHREIT has reported the performance of the first half of 2019 with the total revenue of 201.76 million baht and a net profit of 81.33 million baht. The assets of the SHREIT included IBIS Saigon South Hotel and Capri by Fraser Hotel in Ho Chi Minh City in Vietnam where RevPAR (revenue per available room) growth has been sustained and considerably higher than during the same period of the previous year. At the same time, the assets in Indonesia following the presidential election and the quick improvement in the political situation have resulted in a rapid recovery, and the year-end performance is expected to meet the target.

Therefore, the meeting of the Board of Directors approved the distribution payment as realized from Q2/2019 to shareholders of the SHREIT at the rate of 0.19 baht per share with the posting of XD mark on 30th August, 2019 with the distribution payment to be made on 20th September, 2019. And if combining with the distribution from Q1/2019 of 0.19 baht per share, the total distribution of the SHREIT for the first half of this year paid to shareholders will be 0.38 baht per share.

The Managing Director of Strategic Property Investors Co., Ltd. added, "The trend for the second half of the year that the SHREIT has invested in is expected to show a good growth both in Vietnam and Indonesia, especially Indonesia that has been promoted in the S&P rating from BBB- to BBB reflecting the trust among international investors who want to invest in this country."

In addition, the SHREIT is in the midst of considering additional investment in the ASEAN region especially in countries that can produce high return on investment, which is the SHREIT's policy to expand the asset base that will ensure the management potential and including the risk diversification and the realization of full return from ASEAN's economic expansion the continued growth of the tourism industry.

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