Bangkok--24 Oct--Ek-Chai Distribution System
Tesco Lotus Retail Growth Freehold and Leasehold Property Fund (TLGF) announced its income and net profit growth for Q2 2014/2015. TLGF’s total income in Q2 2014/2015 was 692,485,723 baht or a 13.9% increase year-on-year. The fund’s net investment income was 444,016,382 baht, an increase of 11.3% year-on-year.
TLGF will pay dividend of the Q2 2014/2015 at 0.19 baht/unit on 17 November 2014, and will pay capital reduction of the Q2 at 0.0164 baht/unit on 18 November 2014. The total distribution for Q2 2014/2015, including capital reduction, will be 0.2064 baht/unit.
Chavinda Hanratanakool, CEO of Krung Thai Asset Management PCL (KTAM), TLGF fund manager, said, “TLGF saw a good growth in the second quarter of 2014/2015. The fund also continued to provide consistent and stable returns to unitholders.”
Sompong Rungnirattisai, Property Director of Tesco Lotus said “Growth in total income of TLGF was contributed mainly by refresh projects of our malls, including rearrangement of rental space at Tesco Lotus Extra Phuket and Plus Mall Srinakarin. The refreshed malls draw more customer visits as they offer new shops that meet today's customers lifestyles and provide better shopping experience.”
Since its establishment and flagship IPO in 2012, TLGF has invested in 23 Tesco Lotus shopping malls in prime locations across Thailand. TLGF is one of the largest listed property funds in Thailand with a market capitalization of over 31 billion baht (information as of 15 October 2014).