Frasers Property Industrial REIT Management (Thailand) Company Limited or "FIRM", as the REIT manager of Frasers Property Thailand Industrial Freehold & Leasehold REIT or "FTREIT", announced the results of the offer of 241,000,000 trust units at 11.70 Baht per trust unit, in the value of 2,819.7 million Baht, to the general public who are existing trust unitholders by means of the General Mandate. FTREIT is the first REIT in Thailand which successfully increased capital by this approach last year.
Despite the volatility of the Thai economy and capital market against a COVID-19 outbreak, FTREIT's offering was oversubscribed by high net worth and institutional investors. FTREIT's offering was 100% subscribed with applications received for 241,000,000 units. The result of this capital increase shows the confidence of investors in FTREIT given the REIT's investment in high quality assets, proactive asset management as well as strong financial management with good governance.
Mr. Peerapat Srisukont, Managing Director of FIRM, said: "The offering was fully subscribed as targeted. We believe that our strong performance, continuous growth, and achievements in previous investments in the strategic industrial and logistics locations will continue to instill and boost our investors' confidence in our REIT. FIRM will utilize the capital received from the sale of the additional trust units by means of general mandate for the repayment of borrowings for investments during the period of September - October 2020.
To retain an investment-grade REIT and keep the financing costs at the appropriate rate, FTREIT will continue to maintain the healthy ratio of FTREIT's interest-bearing debt to total asset value. Currently, FTREIT has been assigned a rating of 'A/Stable' by TRIS rating."
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 investment properties worth THB 44,000 million (As of 1 February 2021). FTREIT's investment portfolio is presently comprised of 636 units of factories and warehouses, representing an area of 2.03 million sqm. All of them are high-quality properties strategically located in key industrial areas of Thailand such as Ayutthaya, Pathum Thani, Samut Prakan, Prachinburi 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 31 December 2020, FTREIT has occupancy rate at over than 85%. 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 Limited ("Frasers Property" and together with its subsidiaries, the "Frasers Property Group"
or the "Group"), is a multi-national developer-owner-operator 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$38.7 billion as
at 30 September 2020.
Frasers Property's multi-national businesses operate across five asset classes, namely, residential, retail,
commercial & business parks, 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 and 20 countries across Asia, Australia, Europe,
the Middle East and Africa.
Frasers Property is also the sponsor of two real estate investment trusts ("REITs") and one stapled trust
listed on the SGX-ST. Frasers Centrepoint Trust and Frasers Logistics & Commercial Trust are focused on
retail, and industrial & commercial 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 industrial & logistics properties in Thailand, and Golden
Ventures Leasehold Real Estate Investment Trust, which is focused on commercial 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 to deliver value in its
multiple asset classes.
Frasers Property, please visit frasersproperty.com or follow us on LinkedIn.