Bangkok--13 May--Frasers Property Industrial REIT Management (Thailand)
FTREIT recorded a growth of 8.74% Y-o-Y in its total revenue to THB 1,516.65 million for the first half of its fiscal year ended 31 March 2020, while net investment income increased by 10.93% Y-o-Y to THB 996.99 million.
The occupancy rate at the end of 2QFY2020 rose from 82.9% to 85.3% Y-o-Y.
The distribution payment from the second quarter operations was announced at 0.1670 Baht per unit.
Frasers Property Industrial REIT Management (Thailand) Company Limited or “FIRM” as the REIT manager of Frasers Property Thailand Industrial Freehold & Leasehold REIT or “FTREIT” reported a robust set of results for 2QFY2020 (January – March 2020), with an increase in revenue of 4.94% or THB 35.47 million Y-o-Y to THB 753.49 million. Net investment income also rose 11.19% or THB 51.80 million to THB 514.48 million due to higher assets under management and occupancy rate. In 1HFY2020 (October 2019 – March 2020), FTREIT delivered total revenue of THB 1,516.65 million, an increase of 8.74% or THB 121.94 million Y-o-Y, while its net investment income increased by 10.93% or THB 98.26 million Y-o-Y to THB 996.99 million.
The distribution payment from the second quarter operations of THB 0.1670 per unit will be paid on June 8, 2020. The accumulated distribution of FTREIT from 1QFY2020 and 2QFY2020 is THB 0.3340 per unit.
Currently, FTREIT’s assets under management portfolio comprises 578 units of high-quality factories and warehouses with a combined total leasable area of 1.76 million sqm. Located in strategic locations for industrial and logistics industries, i.e. Ayutthaya, Pathumthani, Samut Prakan, and provinces in the Eastern Economic Corridor, FTREIT’s portfolio has an occupancy rate of 85.3% as at 31 March 2020.
On 23 March 2020, FTREIT marked a new milestone with its inclusion in the FTSE Global Equity Index Series (FTSE GEIS). Being part of the FTSE GEIS, a leading benchmark index worldwide, has enabled FTREIT to reach out to a larger pool of institutional investors on both local and international fronts.
In April, FTREIT successfully launched debentures worth THB 1 billion in two series to institutional investors and high-net-worth individuals – 7 years and 10 years at an average interest rate of 3.165% in order to repay a short-term loan from investment – despite the challenges and uncertainty during the COVID-19 outbreak crisis.
Mr. Peerapat Srisukont, Managing Director of FIRM stated, “We were able to deliver outstanding performance and sustainable returns in the first half of the fiscal year 2020 for our unitholders despite the challenging business environment. We will continue to closely monitor the evolving impact of the COVID-19 outbreak. We have implemented ongoing precautionary measures to ensure the health and safety of our staff and tenants while focusing on business continuity. We will also continue to look for potential investment opportunities to generate profitable and sustainable returns for FTREIT’s unitholders.”