- FTREIT's unitholders have approved the acquisition of investment assets worth approximately THB 6,000 million from Frasers Property Thailand and Chaiyanan-Bangplee Parkland.
- Following the completion of acquisition, FTREIT would boost its asset portfolio value to THB 45,000 million.
Frasers Property Industrial REIT Management (Thailand) Company Limited or 'FIRM', as the REIT Manager of Frasers Property Thailand Industrial Freehold & Leasehold REIT or 'FTREIT', received unitholders’ approval for the acquisition of high-potential assets from Frasers Property Thailand Public Company Limited ('FPT') and Chaiyanan-Bangplee Parkland Company Limited ('CBP') at the Extraordinary General Meeting (No.1/2020) held on 11 August 2020. The investment including tax fees and acquisition expenses amount to approximately THB 6,000 million. The investment assets comprise 23 factory units and 42 warehouse units spanning a total area of 284,609 square meters on 405 rais of land in Chonburi, Rayong, Samutprakan, Ayutthaya, and Pathumthani province.
As approved by the unitholders, the REIT Manager will consider borrowing short-term and/or long-term loans for this investment. Any funding decisions for the aforementioned purposes will take into consideration the interest of the unitholders. FIRM will also review any capital increase under the General Mandate which was approved by unitholders in the 2020 AGM held on 27 January 2020 so as to maintain appropriate portion of interest-bearing debt to total asset value ratio.
Mr. Peerapat Srisukont, Managing Director of FIRM, said, “The transferring period will be started gradually in September 2020. After the completion of the acquisition, FTREIT will have assets under management totaling 643 units on a leasable area of 2 million sqm. With total asset value over THB 45,000 million, FTREIT continues to strengthen its leadership position as Thailand's largest industrial and logistics REIT.'