Bangkok--25 Feb--Five W&H Communication
- FPT recorded gain on sale of its FTREIT units valued THB 943 million which will be reflected in 2Q/2020 financial results.
- The growing portfolio and robust performance of FTREIT continued draw investment demand from both institutional investors and fund managers.
- FPT remains a major shareholder of FTREIT with more than 22% stake. The Company continues to receive stable return from shares of profit of its FTREIT investments as well as revenue from property management as property manager of FTREIT.
Frasers Property (Thailand) Public Company Limited ("FPT"), a leading provider of integrated real estate platform, today announced its sale of 61.2 million units in FTREIT valued 943 million Baht. The transaction which unlocked FPT's investment value at the right market window will further boost 2Q/2020 financial performance.
FPT remains a major shareholder of FTREIT with more than 22% stake. The Company continues to receive stable return from shares of profit of its FTREIT investments as well as revenue from property management as property manager of FTREIT. The growing portfolio and robust performance of FTREIT continued draw investment demand from both institutional investors and fund managers.
Mr. Sopon Racharaksa, President of Frasers Property Thailand, revealed, "The sale of FTREIT units is a good opportunity for FPT to capitalize on our investment and rebalance our portfolio. Proceeds of the transaction will be used to reinvest in various value-accretive projects and to support our business operations. Moreover, FPT has a plan to divest our industrial property assets to FTREIT within this fiscal year. This transaction will support growth of FTREIT's portfolio and provide upside to FPT's financial performance, in line with overall strategy of FPT to deliver good shareholder return as Thailand's leading provider of integrated real estate platform.
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