Bangkok--20 Apr--TICON Industrial Connection
TICON Industrial Connection Public Company Limited (“TICON”), Thailand’s largest provider of rented factories and warehouses, has
increased its portfolio of leased facilities by more than 18% during the first quarter of 2006. The number of leased facilities grew by 27,
from 146 to 173, while income generating space increased by 61,475 sq. m., to a total of 390,800 sq. m. from 329,325 sq. m. Of the 27
recently leased out factories, 10 were located in Rojana Industrial Park in Ayudhaya and 8 were in the Navanakorn Industrial Promotion Zone,
Pathumthani.
Factories End 2003 End 2004 End 2005 31st March 2006
---------- Factories Sq.M. Factories Sq.M. Factories Sq.M. Factories Sq.M.
Leased 102 218,988 140 304,388 146 329,325 173 390,800
Pre-leased 17 37,950 14 41,857 27 65,725 26 88,875
Available 8 16,900 13 31,700 15 35,150 8 21,485
Development Pipeline 58 145,725 63 149,225 58 150,015 72 181,500
Total TICON Properties 185 419,563 230 527,170 246 580,215 279 682,660
Occupancy 93.7% 93.8% 92.2% 91.6% 92.0% 91.8% 96.1% 95.7%
TFUND Properties - - - - 39 89,900 39 89,900
Total Completed Building Under Management 110 235,888 153 336,088 200 454,375 220 502,185
TICON’s outstanding growth performance is accentuated by the addition of 33 new properties and a pipeline which features pre-lease
commitments virtually equivalent to that at the 2005 year end (26 vs. 27 respectively). Available facilities dropped to 8 from 15 at the
end of last year, and properties under development have increased by 14. As a result, overall occupancy has risen from around 92% at the
end of last year to about 96% as at the end of March.
Mr. Ian Hamilton, head of Business Development for TICON, noted that, “Importantly, the average size of TICON’s pre-leased
buildings has grown from around 2,400 sq. m. to approximately 3,400 sq. m. This is as a result of TICON now developing some larger, custom
facilities, and it is likely to become a trend as we broaden our development program”.
On 11th April 2006, TICON sold 44 leased facilities, totalling 100,407 sq. m. to the TICON Property Fund (“TFUND”) for THB 1,982 million, as
part of its on-going policy to fund new developments by offering some of its existing facilities to TFUND on a periodic basis. TICON is
using the proceeds received from the sale to reduce debt and develop more factories and warehouses.
For further Information, please contact:
Ms. Lalitphant Phiriyaphant, Finance Manager
or
Mr. Ian Hamilton, Business Development
at TICON Industrial Connection Public Co., Ltd.
Tel: +66(0) 2 679 6565 Fax: +66(0) 2 287 3153