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."
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 REIT 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.
For more information, please visit ftreit.co.th or frasersproperty.co.th.
About Frasers Property Thailand Industrial Freehold & Leasehold REIT
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 leading industrial REIT in the country with investment properties worth around THB 44,536.3 million (As of 31 December 2021). FTREIT's investment portfolio is presently comprised of 641 units of factories and warehouses, representing an area around 2.06 million sqm. All of them are high-quality properties strategically located in key industrial areas of Thailand such as Bangkok, Ayutthaya, Pathum Thani, Samut Prakan, Prachinburi and the Eastern Economic Corridor (EEC). Acquired complete with tenancies of world-class companies from various industries, including automobiles, logistics and electronics. In the 1QFY2022, FTREIT has average occupancy rate at over than 87%. FTREIT was assigned with an 'A/Stable' rating, which is the highest credit rating among all industrial REITs in Thailand.
For more information, please visit ftreit.co.th.
About Frasers Property (Thailand) Public Company Limited
Frasers Property (Thailand) Public Company Limited ("FPT"), a subsidiary of Frasers Property Group is a leading integrated real estate platform with multi-asset class expertise. FPT through its subsidiary, Golden Land Property Development Public Company Limited ("GOLD") has businesses in Industrial, Residential, Commercial and Hospitality property 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, FTREIT and GVREIT are listed on the Stock Exchange of Thailand.
For more information on FPT, please visit: frasersproperty.co.th.
About Frasers Property Limited
Frasers Property Limited ("Frasers Property" and together with its subsidiaries, the "Frasers Property Group" or the "Group"), is a multi-national developer-owner-operator of real estate products and services across the property value chain. 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$40.3 billion as at 30 September 2021.
Frasers Property's multi-national businesses operate across five asset classes, namely, residential, retail, commercial & business parks, industrial & logistics as well as hospitality. The Group has businesses in Southeast Asia, Australia, Europe and China, and its well-established hospitality business owns and/or operates serviced apartments and hotels in over 20 countries in 70 cities across Asia, Australia, Europe, the Middle East and Africa.
Frasers Property is also the sponsor of two real estate investment trusts ("REITs") and one stapled trust listed on the SGX-ST. Frasers Centrepoint Trust and Frasers Logistics & Commercial Trust are focused on retail, and industrial & commercial 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, the Group has two REITs listed on the Stock Exchange of Thailand. Frasers Property (Thailand) Public Company Limited is the sponsor of Frasers Property Thailand Industrial Freehold & Leasehold REIT, which is focused on industrial & logistics properties in Thailand, and Golden Ventures Leasehold Real Estate Investment Trust, which is focused on commercial properties.
The Group is committed to inspiring experiences and creating places for good for its stakeholders. By acting progressively, producing and consuming responsibly, and focusing on its people, Frasers Property aspires to raise sustainability ideals across its value chain, and build a more resilient business. It is committed to be a net-zero carbon corporation by 2050. Building on its heritage as well as leveraging its knowledge and capabilities, the Group aims to create lasting shared value for its people, the businesses and communities it serves. Frasers Property believes in the diversity of its people and are invested in promoting a progressive, collaborative and respectful culture.
For more information on Frasers Property, please visit frasersproperty.com or follow us on LinkedIn.