• Frasers Property Thailand Industrial Freehold & Leasehold REIT or “FTREIT” recorded 677 million baht in income and 422 million baht in net investment income for the first quarter of fiscal year 2019 ended 31 December 2018.
• The occupancy rate increased strongly to 84% driven by excellent performance. FTREIT is confident to deliver sustainable return to the unitholders. Dividend announced in Q1/2019 of 0.1670 baht per share reflected an increase of 4.4% from the previous quarter.
• FTREIT maintains its leadership position as Thailand’s largest industrial and logistics REIT with total assets value of over 36 billion baht.
• Adoption of unifying global brand “Frasers Property” will strengthen FTREIT (formerly known as TREIT) and its REIT manager Frasers Property Industrial REIT Management (Thailand) Company Limited or “FIRM” (formerly known as “TMAN”) abilities as well as opportunities to effectively management and expand its portfolio as well as the international reach to foreign-based investor. Since 31 January 2019, trading ticker has been changed to “FTREIT”.

BANGKOK, 18 FEBRUARY 2019

Frasers Property Thailand Industrial Freehold & Leasehold REIT or “FTREIT” announced the stellar Q1/2019 performance ended 31 December 2018.

Mr. Peerapat Srisukont, Managing Director of Frasers Property Industrial REIT Management (Thailand) Company Limited or “FIRM” (formerly known as TICON Management Company Limited or TMAN) as the REIT manager of FTREIT said “In Q1/2019, FTREIT recorded net investment income of 422 million baht from total income of 677 million baht. These strong results reflected REIT manager’s ability to acquire new high-quality tenants for factory and warehouse portfolio as well as efficient management in cost and operational expenses. The Board of FIRM approved dividend payment of 0.1670 baht per share, an increase of 4.4% from 0.1600 baht per share in previous quarter.”

During the first quarter of the fiscal year ended 2019, Frasers Property (Thailand) or “FPT” (formerly known as “TICON”) as the main sponsor of FTREIT monetized assets in 8 industrial and logistics parks to FTREIT to support its growth. These assets are in strategic locations of Chonburi, Samutprakarn, Ayutthaya, Prathumtani and Prachinburi with total assets value of over 1,907 million baht and total gross floor area of 72,775 sqm. During the same quarter, FTREIT also successfully issued debentures at competitive interest cost to finance investment of the above-mentioned assets. The subscription process received overwhelming demand from the investors. As a result, FTREIT maintains its leadership position as Thailand’s largest industrial and logistics REIT with assets value of over 36 billion baht.

The effective portfolio management resulted in higher occupancy rate from 78% in the last quarter to 84% in December 2018, with property management costs of the vacant units further reduced. During Q1/2019, FIRM also approved selling of two vacant units comprising 1 factory and 1 warehouse which will correspondingly reduce property manage costs and increase the portfolio occupancy rate after completion of assets transfer.

In accordance with the budget approved in 2018, asset enhancement initiatives to expand rental area to 1,700 sq m. have been implemented in a leased factory in Amata City Rayong Industrial Estate. The additional rental space will generate additional income and lengthen WALE of the portfolio.

The REIT manager is confident that it will be able to deliver strong occupancy rate and low operating costs for the fiscal year 2019. Additionally, FIRM continues on a look-out for potential investment opportunity to generate sustainable and high return to unitholders of FTREIT.” Mr Peerapat concluded.