Bangkok--Jun 29--SET
Executive Vice President of The Stock Exchange of Thailand (SET) Ms. Sopawadee Lertmanaschai announced that the SET board of governors has approved the listing of Thai Industrial Fund 1 on the Exchange. Thai Industrial Fund 1 is a property fund with 50.5 mln. investment units having THB10.00 par value each for a total of THB505 mln. Its investment units will be listed in the Property & Construction Industry Group, Property Development Sector, from June 29, 2005 onwards using “TIF1” as their trading symbol.
The Fund’s policy is to pay dividends to unitholders at least twice per annum at no less than 90% of its annual net profits. If it has retained earnings, the Management Company will pay dividends based upon its retained earnings as well.
“Investing in a property fund can be an interesting alternative for investors wishing to receive returns in the form of dividends, independent of investing in the stocks of a property development firm. With only a small initial investment, compared to expected dividend returns, the property fund can be an interesting investment option,” Ms. Sopawadee said.
Thai Industrial Fund 1 is the 5th listed property fund on the market. The funds raised from its listing will be used to purchase or lease industrial plants in Thailand’s industrial estates, zones, or parks, as well as to utilize the property to yield income and returns.
TIF1 has been incorporated and will be managed by ING Funds (Thailand) Ltd. The company sold TIF1’s investment units to the public during May 24 - June 3, 2005 at THB10.00 per unit.
The TIF1 fund project is a non-redeemable and specific property fund with an unspecified project life.
Initial investments of TIF1 include 12 plots of land and structures located in 5 industrial estates, promotion areas, and industrial parks, as follows:
1) 8 plots of land and structures in the High Tech Industrial Estate
2) 1 plot of land and structures in the Bangkadi Industrial Park
3) 1 plot of land and structures in the Navanakorn Industrial Promotion Area
4) 1 plot of land and structures in the Bangpa-in Industrial Estate
5) 1 plot of land and structures in the Latkrabang Industrial Estate
The fund will have Thai Factory Development Pcl., which owns most of these properties, as its property manager.
For more information on TIF1, please browse 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.