BANGKOK, 28 JANUARY 2022
Frasers Property Industrial REIT Management (Thailand) Company Limited or “FIRM”, as the REIT manager of Frasers Property Thailand Industrial Freehold & Leasehold REIT or “FTREIT”, reported FTREIT’s full year performance ended 30 September 2021 at FTREIT’s 2022 electronic Annual General Meeting. FTREIT achieved total revenue of THB 3,416.7 million, which increased by 12.1% Y-o-Y. The growth of net profit on investments of 13.0% Y-o-Y to THB 2,371.0 million. FTREIT also announced the distribution payment from the operating results of FY2021 to the trust unitholders for 4 quarters, totaling THB 0.6740 per unit, increased by 0.7% from the previous year.
Mr. Thanarat Boonyakosol, Managing Director of Frasers Property Industrial REIT Management (Thailand) Company Limited or “FIRM” as the REIT manager of Frasers Property Thailand Industrial Freehold & Leasehold REIT (FTREIT), said: “In FY2021, FTREIT’s portfolio achieved a strong average occupancy rate of 85.4% owing to the growth of electronics, automotive, e-commerce, retail as well as pharmaceuticals and medical supplies industries due to changes in consumer behavior during the outbreak of Covid-19 pandemic. Additionally, the Company benefitted from supply chain disruption, which encouraged manufacturers and leading
brands to focus on reducing risk by diversifying local and regional supply chains. Demand for FTREIT' factories and warehouses, especially in Northern and Eastern Bangkok as well as the Eastern Economic Corridor (EEC) has increased as entrepreneurs attempt to minimize supply chain disruption.”
FTREIT’s assets under management presently comprises 642 units of high-quality factories and warehouses with a combined net leasable area around 2.07 million sqm. As Thailand’s leading industrial and logistics REIT, FTREIT has THB 44,758.3 million worth of assets located in key strategic locations include Bangkok, Ayutthaya, Pathumthani, Samutprakan, Prachinburi provinces and the Eastern Economic Corridor (EEC).
“In terms of capital management in FY2022, we thank unitholders for supporting and approving a general mandate for the issuance of additional FTREIT trust units not exceeding 919,016,114. To maintain the appropriate Loan-to-Value (LTV) ratio and generate sustainable returns to the unitholders, the additional trust units is another source of fund in addition to the loan.
In 2022, countries around the world are likely to see continued economic recovery. For Thailand’s economy, it is projected to see accelerated growth through export and tourism sectors. FIRM will continue its proactive strategies to manage the REIT with flexibility and agility in response to any unexpected circumstances. In addition, FIRM will support FTREIT’s further growth by maintaining high occupancy rate through retaining existing tenants and increasing the number of prospective tenants across our portfolio.” Mr. Thanarat added.