FTREIT highlights strong 1QFY21 performance with 810 million Baht total revenue and distribution payment at 0.1680 Baht per trust unit
- FTREIT achieved total revenue at 810.0 million Baht and net investment income at 534.1 million Baht for 1QFY21 (1 October 2020 – 31 December 2020). Total revenue and net investment income grew by 6.1% YOY and 10.7% YOY respectively.
- The acquisition of over 2,400 million-Baht-worth assets from Frasers Property Thailand group (“FPT”) and a non-group entity in 1QFY21 further cemented FTREIT’s status as the largest industrial and logistics REIT in Thailand, bringing portfolio value to 43,763.3 million Baht.
- Announced a distribution of 0.1680 Baht per unit for 1QFY21.
BANGKOK, 3 FEBRUARY 2021
Frasers Property Industrial REIT Management (Thailand) Company Limited or “FIRM” as the REIT manager of FTREIT announced that its total revenue for 1QFY21 performance (ended on 31 December 2020) increased by 6.1% YOY to 810.0 million Baht, while its net investment income increased by 10.7% YOY to 534.1 million Baht. The growth was contributed by FIRM’s effective portfolio management as reflected in its average occupancy rate 1QFY21 of 84.0% (an occupancy rate at 85.6% as at 31 December 2020) and the renewal rate at 82.2%. In addition, FIRM’s investments during 4QFY20 and 1QFY21 generated steady growth with high returns to FTREIT.
During 1QFY21, FTREIT invested over 2,400 million Baht in the acquisition of high-potential assets from Frasers Property Thailand Public Company Limited group (“FPT”) and Chaiyanan-Bangplee Parkland Company Limited (“CBP”), which was approved by unitholders at the Extraordinary General Meeting No. 1/2020 held on 11 August 2020.
As at 31 December 2020, FTREIT’s assets under management consist of 630 units of factories and warehouses, representing an area of 2.01 million sq.m., worth 43,763.3 million Baht. As at 1 February 2021, 6 more asset units with a net leasable area of 16,650 sq.m. and the investment value of 380.9 million Baht have been added to FTREIT portfolio, reinforcing FTREIT’s status as the largest industrial and logistics REIT in Thailand with the current assets under management of 636 units with 2.03 million sq.m.
Due to higher returns of FTREIT and the success of previous investments, the Board of FIRM approved a distribution payment of 0.1680 Baht per trust unit which will be paid on 3 March 2021.
Mr. Peerapat Srisukont, Managing Director of FIRM, said: “With FTREIT’s robust portfolio and performance, we are confident of delivering sustainable growth and returns to unitholders of FTREIT in 2021 despite the challenges lying ahead. As the REIT manager, FIRM will continue to manage the REIT with flexibility and agility in response to the impact of COVID-19 in Thailand and look for sound investment opportunities for future growth.
