Bangkok--29 Aug--BBLAM
BBL Asset Management Co., Ltd. (BBLAM) announces the first capital increase of TLOGIS Property Fund (TLOGIS) of not exceeding Baht 950 million. TLOGIS will invest in land with warehouse buildings in TICON Logistics Park Bangna Project and TICON Logistics Park Laem Chabang Project. BBLAM is confident that this capital increase would enhance the Fund’s capability to strengthen income flow. We believe that we will receive a good response from investors because the Fund will receive the minimum rental guarantee by Property Administrator which will ensure that dividend can be paid consistently to unitholders on the quarterly basis. These are the focal points for this capital increase.
Mr. Sudhipongse Phuaphanprasert; Deputy Managing Director, Property Fund Business Group, BBL Asset Management, told that BBLAM is proceeding to increase the additional investment units of TLOGIS about 84.24 million units with the offering price of Baht 11.10 per unit. The additional units will be offered to the exiting unitholders (Right Offering) whose names appear in the unitholders’ register book as at 2 September 2011, at the ratio of 1 existing investment unit per 0.5495 new investment unit. The subscription period shall be during 19-23 September 2011. The exiting unitholders can purchase the additional investment units at Bangkok Bank, Bualuang Securities PCL., CIMB Thai PCL., CIBM Securities (Thailand) Co. Ltd., and BBLAM.
This capital increase of TLOGIS will be invested in land with 3 factory buildings from TICON Logistics Park Public Co., Ltd. located in TICON Logistics Park Bangna (1 warehouse) and TICON Logistics Park Laemchabang (2 warehouses).
Mr. Sudhipongse also added that due to minimum rental guarantee, the Fund had paid dividend consistently as for the past 4 quarter, dividend are paid altogether Baht 0.8375 per unit. Moreover, since the Fund invests in freehold, the Fund is likely to gain benefit from property appreciation in long term. With the strong expertise and experience of TICON Industrial Connection Public Co., Ltd.; the Property Administrator, could assist the Fund‘s performance. Given the aforementioned positive points above, we believe that this capital increase will receive a good response from the existing unitholders.
For further information on TLOGIS’ capital increase, please contact BBLAM Tel. 0 2674 6488 extension 8 .
Investment in mutual fund contains some degree of risks, investors should study prospectus and information before investing.