- FTREIT announced FY20 results (October 1, 2019 - September 30, 2020) ("FY2020") with THB 3,048.4 million in total revenue, an increase of 8.6% Y-o-Y, and THB 2,099 million in net investment income, an increase of 20% Y-o-Y.
- FTREIT acquired high-potential assets worth THB 4,908 million from Frasers Property Thailand and third party, maintaining its position as the largest industrial and logistics REIT in Thailand with total assets worth THB 41,143.6 million.
- FTREIT announced the distribution payment ("DPU") for the fourth quarter at THB 0.1680 per trust unit. The accumulated distribution of FTREIT for the FY2020 is THB 0.6690 per trust unit.
Frasers Property Industrial REIT Management (Thailand) Company Limited or "FIRM", the REIT manager of Frasers Property Thailand Industrial Freehold & Leasehold REIT or "FTREIT", today announced a robust performance for the full financial year which ended 30 September 2020. FTREIT delivered total revenue of THB 3,048.4 million, an increase of 8.6% or THB 241.3 million Y-o-Y, while its net investment income rose by 20% or THB 349.6 million Y-o-Y to THB 2,099 million. FTREIT has a better operating performance and the acquisitions of assets in the fiscal year 2020 drove the growth of earnings.
In FY2020, FTREIT has shown significant growth through the investment worth THB 4,908 million on the acquisitions of high-potential industrial and logistics assets. The investment was divided into:
- The acquisition of 24 warehouse units of Sahathai Property & Development Company Limited's which is worth THB 2,050 million which have location nearly to laem Chabang deep sea port and laem Chabang industrial estate in Chonburi province; and
- The acquisition of 36 factory and warehouse units of Frasers Property Thailand which assets located in industrial and logistic strategic locations in Ayutthaya, Pathumthani, Chonburi and Rayong province, worth THB 2,858 million. The remaining assets that unitholders approved in Extraordinary General Meeting (No.1/2020) will be completely transferred and lease registration within in February 2021.
As at September 30, 2020, FTREIT continues to cement its leadership as Thailand's largest industrial and logistics REIT with total assets worth THB 41,143.6 million, comprising 614 units of high-quality factories and warehouses with a combined leasable area of over 1.87 million sqm.
FTREIT has proven its excellent portfolio management through challenging circumstances especially during the peak of COVID-19 pandemic. It successfully maintains a healthy occupancy rate at 82.2% as at September 30, 2020.
The distribution payment from the fourth quarter results is THB 0.1680 per trust unit and will be paid on December 2, 2020. The accumulated distribution of FTREIT for FY2020 is THB 0.6690 per trust unit.
Mr. Peerapat Srisukont, Managing Director of FIRM, said, "FTREIT underwent economic and political challenges amidst a COVID-19 pandemic in the fiscal year 2020. Unlike some other industry sectors who have been hit hardest, our factory and warehouse tenants are in the manufacturing and logistics sectors, which have been partially financially affected by the situation. Nevertheless, to aid our tenants during these difficult times, FTREIT has offered tenants a rent relief scheme in case by case based on their financial position and operation that effect from COVID-19, rent relief scheme include reducing rental rates and delaying rental payments."
"We are confident that FTREIT will continue to create sustainable returns to our trust unitholders and stakeholders with our robust portfolio. Our Tris rating at A Stable Outlook and listing in the FTSE Global Equity Index Series (GEIS) will continue to attract investment opportunities from a wider group of local and international institutional investors," Peerapat concluded.
About Frasers Property Industrial REIT Management (Thailand) Company Limited (FIRM)
Frasers Property Industrial REIT Management (Thailand) Company Limited (FIRM) is a subsidiary of Frasers Property (Thailand) Public Company Limited, the leading integrated real estate platform with multi-asset class expertise. Founded in May 2013, FIRM is a non-financial company approved by SEC to operate as the REIT manager of Frasers Property Thailand Industrial Freehold & Leasehold REIT (FTREIT). FIRM formulates investment strategy for FTREIT and manages its interests in the assets. 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 ftreit.co.th or frasersproperty.co.th
About Frasers Property Thailand Industrial Freehold & Leasehold REIT
Frasers Property Thailand Industrial Freehold & Leasehold REIT (FTREIT) 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 THB 41,143 million (As of 30 September 2020). FTREIT's investment portfolio is presently comprised of 614 units of factories and warehouses, representing an area of 1.87 million sqm. All of them are 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. As of 30 September 2020, FTREIT has occupancy rate at 82.2%. FTREIT was assigned with an 'A/Stable' rating, which is the highest credit rating among all industrial REITs in Thailand, and was included in the FTSE Global Equity Index Series (GEIS) 2020 semi-annual review of the global provider of stock market indices, FTSE Russell.
For more information, please visit ftreit.co.th
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 (Thailand) Public Company Limited or "Frasers Property Thailand", which is listed on the Stock Exchange of Thailand under the trading ticker "FPT", is a subsidiary of Frasers Property Limited. By acquiring Golden Land Property Development Public Company Limited or "GOLD", Frasers Property Thailand has become the first fully integrated real estate platform in Thailand with portfolio spanning across residential, industrial, and commercial properties.
Frasers Property Thailand is a sponsor and manager of the Frasers Industrial Real Estate Investment Trust and Leasehold Property, or FTREIT, which is currently the largest industrial and logistics trust in Thailand. The company is also the sponsor and manager of the Golden Ventures Leasehold Real Estate Investment Trust, or GVREIT, for commercial property investment. FPT, FTREIT and GVREIT are companies and trusts that are listed on the Stock Exchange of Thailand.
For more information on Frasers Property, please visit frasersproperty.com