- Despite the protracted COVID-19 challenges, the Company managed to succeed through its 'One Platform' strategy and booked total revenue and net profit at THB 4,282 million and THB 510 million respectively for the first three months of 2021 (January - March 2021).
- For 1Q 2021, Frasers Property Home (Thailand) recorded a pre-sale value of THB 8,255 million, an increase of 24% Q-o-Q. Prompting to serve housing demands bolstered by the New Normal lifestyles which emphasize work from home and work-life blend, the residential asset class has 11 new residential projects to be launched this year.
- Frasers Property Industrial (Thailand) continues to achieve its revenue target. Last quarter, it secured a deal of 34,000 sqm Built-to-Suit Regional Distribution Center with Thai Beverage Logistics Company Limited. There are customers in logistics and delivery fulfillment services entering into agreements with the Company next quarter. The current occupancy rate is strong and healthy at 82.4%
Frasers Property (Thailand) Public Company Limited or "FPT", the first company with a fully integrated real estate platform in Thailand, announces its positive performance for the first three months of 2021 (January-March) with a total revenue of THB 4,282 million. Adopting its 'One Platform' strategy with its integrated asset classes of residential, industrial and commercial, the Company remains resilient despite experiencing business challenges and volatilities during the prolonged COVID-19 situation. At the same time, FPT drives its focus on 'People' and 'Performance' development to pursue sustainable growth and responsiveness to challenges.
Mr. Thanapol Sirithanachai, Country Chief Executive Officer, Frasers Property Thailand, said: "Leveraging the strength of FPT's One Platform strategy and our diversified portfolio, the Company marks the beginning of 2021 with healthy performance for the first quarter. We are confident that we will be able to achieve the revenue target of THB 17,000 million by the end of the year. To further strengthen our platform and leading position in the industry, we have focused on equipping our employees with the right training and development programs as well as improving our internal management to enhance our business and service capabilities. We have continued to maintain high standards of safe distancing and hygiene measures and adopt touchless technologies at our office buildings. We have put in place telecommuting arrangements for staff and have been providing public health updates in a timely and transparent manner."
Despite the challenges, Frasers Property Thailand recorded its total revenue and net profit at THB 4,282 million and THB 510 million respectively for the three-month performance (January-March 2021). Frasers Property Home (Thailand) booked pre-sales value at THB 8,255 million, an increase of 24% Q-o-Q. However, the home loan and customer rejection rate remain high at 51%, resulting in a sales revenue of THB 3,163 million. Given rising market demands, FPT is set to expand its residential portfolio in 2021 with 11 new projects serving New Normal consumer behavior with home features shaped by COVID-19.
Frasers Property Industrial (Thailand) and Frasers Property Commercial (Thailand) consistently generate recurring revenue streams for the Company through their rental and related services. The three-month performance (January - March 2021) was recorded at THB 543 million. The industrial asset class continues to enjoy the growth of e-commerce which has accelerated by the COVID-19 pandemic and benefit from the new global supply chain trend which focuses on reducing risk and diversifying supply chains. Overall occupancy rate remains healthy and above target at 82.4%.
Frasers Property Commercial (Thailand) has experienced limited impact from the telecommuting trend. The commercial portfolio performance remains stable/ resilient as the main tenants such as leading MNCs and forefront Thai companies with stable financials have shown healthy demand for office space. During COVID-19, the commercial asset class has the so-called 'PREVENTIVE' safe distancing measures put in place at its five Grade-A office buildings to help address the risks from COVID-19.
In addition, Frasers Property Thailand recently announced its new milestone embarking on an expansion to develop an industrial zone and logistics park in Binh Doung, Vietnam. The Company is expected to launch the project by mid-2022 and will realize revenue from this strategic investment in Q3/2022.
Financial performance for the 3-month period (January - March)
| 3-Month Financial Performance (January - March) | 2021 (Million Baht) | 2020 (Million Baht) | Changes (Million Baht) | Changes (%) Y-o-Y |
| Revenue | 4,282 | 5,155 | -873 | -16.9 |
| - Sales revenue | 3,163 | 3,620 | -457 | -12.6 |
| - Rental and related service revenue | 543 | 691 | -148 | -21.4 |
| - Other revenue | 576 | 844 | -268 | -31.8 |
| Net Profit | 510 | 852 | -342 | -40.1 |
Financial Performance of Q1/2021 (January - March 2021)
| Financial Performance | Calendar Year Q1/2021 (January - March) (Million Baht) |
| Revenue | 4,282 |
| - Sales revenue | 3,163 |
| - Rental and related service revenue | 543 |
| - Other revenue | 576 |
| Net Profit | 510 |
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, 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 committed to inspiring experiences and creating places for good for its stakeholders. By acting progressively, producing and consuming responsibly, and focusing on people, Frasers Property aspires to raise sustainability ideals across its value chain, and build a more resilient business. It has committed to be a net-zero carbon corporation by 2050. Building on its heritage as well as leveraging its knowledge and capabilities, the Group aims to create lasting shared value for its people, the businesses and communities it serves. Frasers Property believes in the diversity of its people and is invested in promoting a progressive, collaborative and respectful culture.
For more information on Frasers Property, please visit frasersproperty.com or follow us on LinkedIn.