Bangkok--4 Dec--SET
T.U. Dome Residential Complex Property Fund’s securities will commence trading on The Stock Exchange of Thailand (SET) on November 24, using “TU-PF” as their symbol, SET Executive Vice President Mr. Vichate Tantiwanich announced.
TU-PF is a mutual fund project of ING Funds (Thailand) and will be listed in the Property Development Sector, Property & Construction Industry Group. The fund has THB 1.04 billion in registered capital, composed of 104.23 million investment units with a par value of THB 10.00 each. ING Funds offered TU-PF investment units to the general public on September 22 — October 2, at par.
TU-PF is a non-redeemable and specific property fund. The fund will invest in dormitory and service apartment construction on land owned by Thammasat University (T.U.), Rangsit campus. After completion of this project (July 2007), the fund will rent the leased properties from T.U. for approximately 30 years to sublet to students, lecturers and other academics. Initially, T.U. will act as the property manager of the dormitories and service apartments for the fund, while TU-PF may appoint a property manager to oversee commercial and recreational areas, e.g., retail shops, supermarkets, restaurants or theaters.
While awaiting completion of project, the fund will invest in government and debt instruments or deposits. TU-PF’s policy is to pay dividends to unit-holders at least twice a year, at not less than 90% of its net profit. The fund’s first accounting period ends on December 31, 2007. It will deliver audited financial statements to SET in Q1/2007.
The principal unit holder in TU-PF is the Social Security Office, with a 76.75% stake.
For more information on
T.U. Dome Residential Complex Property Fund, please visit ING Funds (Thailand) website at www.ingfunds.co.th
and SET’s website at www.set.or.th
For more information, please contact the Corporate Communications 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