- FTREIT recorded year-on-year (“Y-o-Y”) growth of 11.8% in its total revenue to THB 905.8 million for the first quarter of fiscal year ended 31 December 2021, while net profit on investment increased by 19.0% Y-o-Y to THB 635.8 million.
- Average occupancy rate of 1QFY2022 (October - December 2021) rose 2.0% Q-o-Q to 87.3%.
- FTREIT declared dividend payment of THB 0.1700 per unit for the first quarter.
BANGKOK, 3 February 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 a robust set of results of FTREIT for 1QFY2022 (October – December 2021) with an increase in total revenue of 11.8% or THB 95.8 million Y-o-Y to THB 905.8 million. Net profit on investment also rose 19.0% or THB 101.7 million to THB 635.8 million on the back of an increase in net leasable areas and higher occupancy rate. In the first quarter, FTREIT’s portfolio achieved a healthy average occupancy rate of 87.3%.
The dividend payment for the first quarter of THB 0.1700 per unit will be paid on 3 March 2022.
Currently, FTREIT’s portfolio valued at around THB 44,536.3 million comprises 641 units of high-quality factories and warehouses with a combined total leasable area of 2.06 million sq.m. FTREIT’s assets are located in strategic locations for industrial and logistics industries served by good transportation links, i.e. in Bangkok, Ayutthaya, Pathumthani, Samutprakan, Prachinburi and provinces in the Eastern Economic Corridor.
Mr. Thanarat Boonyakosol, Managing Director of FIRM, said: “FTREIT achieved a solid set of results by maintaining a high occupancy rate and increasing new tenants into the portfolio, in the first quarter of the fiscal year 2022 despite the fast-spreading Omicron variant. In 2022, we are confident that FTREIT’s robust portfolio and performance will continue to grow due to continuous demand from multiple sectors, including logistics, electronics, automotive, e-commerce, retail as well as pharmaceuticals and medical supplies. The global including Thai economy is projected to recover. Moreover, the Thai government’s policies, such as ‘Test and Go’, are expected to support the recovery of Thailand’s economy. As the REIT manager, FIRM will continue its proactive strategies to manage the REIT with flexibility and agility in response to unexpected circumstances so as to support FTREIT’s further growth and generate sustainable returns for unitholders.”