Bangkok--May 11--SET
Ms. Sopawadee Lertmanaschai, Executive Vice President of The Stock Exchange of Thailand (SET), announced that the SET Board of Governors has agreed to accept the listing of 175,000,000 unit/shares of TICON Property Fund Co., Ltd. each with a par value of THB10.00 per share equivalent to THB1.75 bln. (approx. USD43.75 mln.) in total value. TICON Property Fund shares will be listed under the Property & Construction sector in the Property Development group, and will start trading on May 12. The shares will carry the symbol “TFUND”.
“TFUND is the first fund to be listed on the SET that has a specific policy to focus its investments in factories and properties located in major industrial estates throughout Thailand. The continuing recovery and growth of the Thai economy has strengthened the property business, which is providing opportunities for worthwhile returns for investors,” she continued.
“Apart from direct purchase of shares of property development companies, buying into property funds is another viable option for those who are looking for dividends. TFUND’s dividend policy is to pay out dividends at least twice per annum, with each payout to be not less than 90% of its net profits. The company will also pay dividends based upon retained earnings, should the Fund have such earnings. Hence, a relatively small investment in the fund could yield a significant return, and TFUND should be another good alternative for investors” said Ms. Sopawadee.
TFUND was formed and is managed by ING Funds (Thailand) Co., Ltd., which sold its investment units to investors at the par value of THB10.00 during March 29 to April 5, 2005.
TFUND is a property fund that does not buy back sold units, does not have a duration limit for any project, and provides specifications for investment for each project. The funds raised will be used to buy or lease fixed assets, make profits from these fixed assets, and improve, change or promote their potentials and sell off other assets to generate revenues and returns for the fund and its unit-holders.
TFUND’s initial investment is comprised of plots of land and buildings of 39 manufacturing companies located in 5 industrial estates and parks. They include: 1) 3 factories located at Bangpa-In Industrial Estate, 2) 5 plants at Hi-Tech Industrial Estate, 3) 20 factories at Amata Nakorn Industrial Estate, 4) 1 plant at Amata City Industrial Estate and 5) 10 factories at Rojana Industrial Park.
For more information on TFUND, please check out ING Fund (Thailand) Co. Ltd.’s website at www.ingfunds.co.th, and the SET’s website at www.set.or.th.
For more information,
please contact the Corporate Communication Dept.:
Ladawan Kantawong Tel: 0-2229-2036
Kulvida Jintakawong Tel: 0-2229-2037
Nattaporn Boonprapa Tel: 0-2229-2049
Watsamon Saowakhonsathien Tel: 0-2229-2797 End.