Bangkok--4 Jan--SET
JCP Property Fund, worth THB 620 million, under the management of PrimaVest Asset Management will be the first listing in 2007 The Stock Exchange of Thailand (SET). Its securities will be traded in the Property Development Sector, Property & Construction Industry Group, using “JCP” as its trading symbol.
According to SET Executive Vice President Mr. Vichate Tantiwanich, the securities of JCP Property Fund will commence trading on January 5, 2007, in the Property Development Sector, Property & Construction Industry Group.
The fund has THB 620 million in registered capital, composed of 62 million investment units with a par value of THB 10.00 each. PrimaVest Asset Management Co., Ltd., which is the fund manager of JCP Property Fund, offered JCP investment units to the general public on November 21 - 29, at par.
JCP is a non-redeemable and specific property fund. It will rent the immovable property which is the building office named JC Kevin Tower A in part (excl. 16th — 19th floors), common area, and park area accommodating 287 cars totaling 13,462 square meter. The rent will also include related facilities and utilities system. The rent will be for a 30-year period with the extension rights for another five years.
JC Kevin Tower A is located on Naratiwat-ratchanakarin road in Sathorn District, which is an important business area. It has been in commercial operation for five years. Its major tenants are American International Assurances and Oishi Restaurant, having rented nearly 90% of total rental space.
JCP’s dividend payment policy is to pay dividends to unit holders at least once a year, if the fund has net profits, at no less than 90% of its annual net profits. JCP’s principal unit holder is the Government Saving Bank Private Fund by MFC Asset Management PCL holding 99.95% of its paid-up capital.
For more information on JCP Property Fund, please visit PrimaVest Asset Management website at www.primavest.com 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