FTREIT announces distribution of 0.6680 per unit for FY2019, records revenue of 2,807 million Baht, a year-on-year increase of 30.9%.
- FTREIT's total revenue for the fiscal year 2019, from 1 October 2018 to 30 September 2019, was 2,807.1 million Baht, a 30.9% increase y-o-y.
- Announced a distribution of 0.1670 Baht per unit for Q4, bringing full year dividend for FY2019 to 0.6680 Baht per unit, a 4.7% increase y-o-y.
- Portfolio occupancy rate was healthy at 83.1% with a WALE of 2.33 years as at 30 September 2019, and the renewal rate was maintained at 85.8% in FY2019.
- FTREIT geared for growth with investments in high potential assets from its sponsor, Frasers Property Thailand, and non-group entities worth over 3,201 million Baht.
Mr. Peerapat Srisukont, Managing Director of Frasers Property Industrial REIT Management (Thailand) Company Limited or "FIRM", as the manager of FTREIT, today announced FTREIT's results for the full year ended 30 September 2019 comparing with 12-month operation results from note to financial statement no. 22 Supplementary informations and Distribution for the fourth quarter of FY2019. "FTREIT reported total revenue of 2,807.1 million Baht for FY2019, an increase of 30.9% from 2,145.3 million Baht a year ago, while net investment income increased 31.6% year-on-year to 1,739.2 million Baht. The increase took into account contributions from FTREIT's acquisition of strategic locations and high potential assets worth over 3,201 million Baht from FTREIT's sponsor, Frasers Property (Thailand) Public Company Limited, and non-group entities. FTREIT has also expanded its rental area to 1,700 sq.m. by investing in a leased factory in Amata City Rayong Industrial Estate.
The portfolio recorded a higher occupancy rate at 83.1% as at 30 September 2019, compared to 79.2% a year earlier. The growth was mainly due to an increase in the number of tenants in the electronics, automative, and logistics sector, as well as a high renewal rate of 85.8%.
For FY2019, FTREIT announced a dividend of 0.6680 Baht per unit, an increase of 4.7% from the same period of last year.
"As the REIT manager, we will continue to focus on delivering sustainable growth through strong asset management and maintaining high renewal and occupancy rates. We are confident of delivering strong performance going forward and will continue to look for potential investment opportunities to generate sustainable income and a high return to unitholders for the fiscal year 2020." Mr. Peerapat concluded.
About Frasers Property Industrial REIT Management (Thailand) Company Limited (FIRM)
Frasers Property Industrial REIT Management (Thailand) Company Limited (FIRM) is a subsidiary of Frasers Property (Thailand) Public Company Limited, the leading integrated real estate platform with multi-asset class expertise. Founded in May 2013, FIRM is a non-financial company approved by SEC to operate as the manager of Frasers Property Thailand Industrial Freehold & Leasehold REIT (FTREIT). FIRM formulates investment strategy for FTREIT and manages its interests in the assets. FTREIT's investment is not limited to Frasers Property's assets: high-potential assets from non-Frasers Property developers are also taken into consideration. Moreover, FIRM keeps looking out for opportunities in other investment models to boost its revenues even further, such as in sale & leaseback and asset enhancement initiatives, etc. under the management of its multitalented team.
Frasers Property Thailand Industrial Freehold & Leasehold REIT (FTREIT) is a real estate investment trust (REIT) listed on the Stock Exchange of Thailand (SET) and currently the largest industrial REIT in the country with assets worth over THB 39,049 million. FTREIT's investment portfolio is presently comprised of 554 units of factories and warehouses, representing an area of over 1.68 million square meters, all of them high-quality properties strategically located in key industrial areas of Thailand, such as Ayutthaya, Pathum Thani, Samut Prakan and the Eastern Economic Corridor (EEC). Acquired complete with tenancies of world-class companies from various industries, including next-generation automobiles, logistics and electronics, these income-producing assets have a high occupancy rate more than 83%. Moreover, FTREIT was assigned with an 'A/Stable' rating, which is the highest credit rating among all REITs in Thailand.
Frasers Property (Thailand) Public Company Limited ("FPT") is a subsidiary of Frasers Property Group. FPT aims to be a leading integrated real estate platform with multi-asset class expertise. Today, FPT is one of Thailand's largest industrial & logistics property companies that is well-positioned for growth, with the strategic acquisition of Golden Land Property Development Public Company Limited ("GOLD") in 2019 further strengthening FPT as a leading residential, commercial and hospitality property company in Thailand. FPT is also the sponsor and manager of Thailand's largest industrial REIT, Frasers Property Thailand Industrial Freehold & Leasehold REIT ("FTREIT"), which is focused on industrial and logistics properties in Thailand; while GOLD is a sponsor and property manager of Golden Ventures Leasehold Real Estate Investment Trust ("GVREIT"), a REIT focused on commercial properties. FPT, GOLD, FTREIT and GVREIT are listed on the Stock Exchange of Thailand.
Frasers Property Limited ("Frasers Property" and together with its subsidiaries, the "Group"), is a multi-national company that develops, owns and manages a diverse, integrated portfolio of properties. Listed on the Main Board of the Singapore Exchange Securities Trading Limited ("SGX-ST") and headquartered in Singapore, the Group has total assets of approximately S$33.6 billion as at 30 June 2019.
Frasers Property's assets range from residential, retail, commercial and business parks, to logistics and industrial in Southeast Asia, Australia, Europe and China. Its well-established hospitality business owns and/or operates serviced apartments and hotels in over 70 cities across Asia, Australia, Europe, the Middle East and Africa. The Group is unified by its commitment to deliver enriching and memorable experiences to customers and stakeholders, leveraging on its knowledge and capabilities from across markets and property sectors, to deliver value in its multiple asset classes.
Frasers Property is also the sponsor of three real estate investment trusts and one stapled trust listed on the SGX-ST. Frasers Centrepoint Trust, Frasers Commercial Trust, and Frasers Logistics & Industrial Trust are focused on retail, commercial and business parks, and logistics and industrial properties respectively. Frasers Hospitality Trust (comprising Frasers Hospitality Real Estate Investment Trust and Frasers Hospitality Business Trust) is a stapled trust focused on hospitality properties. In addition, Frasers Property Thailand is the sponsor of Frasers Property Thailand Industrial Freehold & Leasehold REIT, which is focused on logistics & industrial properties in Thailand and is listed on the Stock Exchange of Thailand.