TMAN and TREIT Officially Affiliated into Frasers Property Ready to Become Leading Industrial Logistics REIT in Southeast Asia

Real Estate Press Releases Tuesday January 29, 2019 11:41
Bangkok--29 Jan--Verve
  • By Leveraging the expertise of Frasers Property Group, the company is confident that this change will strengthen the performance and establish FTREIT at an international level.
  • Supporting FTREIT to attract more investors from Thailand and globally.

"TMAN" announced the conclusion from the board meeting dated December 12, 2018 that the board of directors unanimously agreed to change "TICON Management Company Limited" or "TMAN" to "Frasers Property Industrial REIT Management (Thailand) Company Limited" or "FIRM". Meanwhile, the board of directors also approved to rebrand "TICON Freehold & Leasehold Real Estate Investment Trust" (TREIT) to "Frasers Property Thailand Industrial Freehold & Leasehold REIT" and changed its stock market's trading ticker to "FTREIT". The notification has officially been made to the unitholders at the company's 2019 annual general meeting. The new brands demonstrate the alignment as subsidiaries under the same brand of Frasers Property Limited (FPL).

Mr. Peerapat Srisukont, Managing Director of Frasers Property Industrial REIT Management (Thailand) Company Limited or 'FIRM', revealed, "As an expert in REIT management, our company has achieved a recognition for 'TREIT' or now rebranded to 'FTREIT' as Thailand's largest industrial and logistics REIT for two consecutive years, with total assets worth over 35 billion baht. In pursuit of the next success, we will drive the growth of FTREIT to become a leading industrial and logistics REIT in ASEAN through the new affiliation and strong support from Frasers Property (Thailand) Public Company Limited. Frasers Property Thailand is best known by the company's former name TICON Industrial Connection Public Company Limited (TICON), our major shareholder and a member of Frasers Property Limited Group, a multi-national company listed on Singapore Stock Exchange, that owns, develops and manages a diverse, integrated portfolio of five real estate asset classes in Singapore, Australia, Europe, China and Southeast Asia."

"After the affiliation to Frasers Property Limited Group, we expect FTREIT to gain its international recognition as well as aptitude to attract more domestic and international investors. With the company's expertise and experience as the country's leading REIT manager, coupled with knowledge assets and affiliation within Frasers Property Group, we are primed to invest in potential, high-quality properties both in domestic and international markets. As for 2019 fiscal year, our goal is to increase FTREIT growth by between three up to five billion baht per annum, paving way for it to become a leading industrial and logistics REIT in ASEAN," Mr. Peerapat concluded.

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

Frasers Property Industrial REIT Management (Thailand) Company Limited (FIRM), formerly known as TICON Management Company Limited (TMAN), is a subsidiary of Frasers Property (Thailand) Public Company Limited, the leading smart integrated property. 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 it invests in both Thailand and overseas. 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 www.ftreit.co.th or frasersproperty.co.th
About Frasers Property Thailand Industrial Freehold & Leasehold REIT (FTREIT)

Frasers Property Thailand Industrial Freehold & Leasehold REIT (FTREIT), formerly known as TREIT, 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 35 billion baht. FTREIT's investment portfolio is presently comprised of 547 units of factories and warehouses, representing an area of over 1,600,000 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, these income-producing assets have a high occupancy rate more than 80%. Moreover, FTREIT was assigned with an 'A' rating, which is the highest credit rating among all REITs in Thailand.

For more information, please visit www.ftreit.co.th

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