Bangkok--11 May--TICON Industrial Connection
TICON Industrial Connection Public Company Limited (TICON), Thailand’s leading provider of rental factories, announced its earnings for the first Quarter of 2006 ended 31st March, of 53.3 million Baht (0.10 Baht per share). This compares with earnings of 89.8 (0.17 Baht per share) for the first Quarter of 2005, and 60.8 (0.10 Baht per share) for the last Quarter of 2005, representing a - 40.6 % Year-on-Year decrease and 12.2 % Quarter-on-Quarter.
The Year-on-Year change in earnings reflects a growth in recurring rental income but a smaller gain from the sale of single factories. In Q1 2006 the sale of factories was on a smaller scale than the previous year, and interest expenses were higher on short-term debt prior to sale of 44 factories to TICON Property Fund (TFUND) in Q2 2006. The sale to TFUND, which was completed on 11th April 2006, realised 1,982 million Baht, and will substantially reduce short-term debt.
ADDITIONAL INFORMATION
Tenants by business classification (as at December 31, 2005)
Type of business %of total tenants % of new tenants
Electronics & electrical 53% 43%
Auto Parts 18% 14%
Logistics 9% 11%
Others 20% 32%
TOTAL 100% 100%
Tenants by Nationality
Country %of total tenants % of new tenants
Japan 48% 49%
Singapore 14% 11%
Thailand 1% 11%
USA 5% 9%
Taiwan 3% 6%
UK 6% 4%
Others 23% 10%
TOTAL 100% 100%
For further information contact:
Ms. Lalitphant Phiriyaphant Finance Manager
or
Mr. Ian Hamilton Business Development
Email : [email protected] < mailto:ian.co.th >
At TICON Industrial Connection Public Co., Ltd
Tel: +66(0) 2 679 6565 Fax: +66(0) 2 287 3153
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