FTREIT Announced dividend of 3QFY2019 at THB 0.1670 per unit

15 Aug 2019

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3QFY19 Quarter Highlights

Net investment income grew 12% to THB 446.3 Million YoY
High occupancy rate at 82% and WALE 2.18 years as of 30 June 2019
Maintain Low LTV at 22.97%

Subsequent event of 3QFY19

Board of directors of REIT Manager approved acquisition of properties which owned by Frasers Property group at maximum value THB 637 Million (exclude fee and transaction cost)

Summary of Results

Unit: Million Baht	Apr - June 2019 (3QFY2019)	Apr - June 2018 (2QFY2018)	Variance %	Oct 2018 - June 2019	Oct 2017 - June 2018	Variance %
Total Income	694.5	665.4	4	2,089.2	1,496.6	40
Net Investment Income	446.3	399.2	12	1,334.8	937.4	42
DPU (THB per unit)	0.1670	0.1600	4.4	0.5010	0.4781	4.8

Note:

FY2017 period start from 1 January 2017 to 31 December 2017
FY2018 period start from 1 January 2018 to 30 September 2018
FY2019 period start from 1 October 2018 to 30 September 2019

Bangkok, 15 August 2019

Frasers Property Industrial REIT Management (Thailand) Company Limited or "FIRM" as the REIT manager of FTREIT, today announced FTREIT's results for the quarter ended 30 June 2019 ("3QFY19").

REVIEW OF FINANCIAL PERFORMANCE

FTREIT reported total income of THB 694.5 Million for 3QFY19, an increase of 4% from THB 665.4 Million, while net investment income rose 12% to THB 446.3 Million, from 399.2 for 2QFY18 (Apr - Jun'18). The increase took into account contributions from FTREIT's asset acquisition value THB 3,600 Million from Frasers group on August and December 2018. In additional, occupancy rate increased from 79% (as of 30 June 2018) to 82% (as of 30 June 2019)

For the operating performance for 9-month of 2019 (1 October 2018 - 30 June 2019), FTREIT's total income THB 2,089.2 Million, increased from THB 1,496.6 Million or 40% increase from 9-month of 2018 (1 October 2017 - 30 June 2018), Net investment income for 9-month period was THB 1,334.8 Million, an increase of 42% comparing to same period of last year. The growth was mainly derived from increasng rental and service income from transfer assets from 3 PFPOs; TFUND, TLOGIST and TGROWTH in December 2017 and acquisition of additional assets in August and December 2018.

Capital Management

As of 30 June 2019, FTREIT's gearing ratio was 22.97%. Total borrowings were THB 8,540 Million, 87% of which were at fixed interest rates.

Portfolio update and recent development

As of 30 June 2019, FTREIT's portfolio remained stable occupancy of 82%, with a weighted average lease expiry ("WALE") of 2.18 years, renewal rate and rental reversion rate of 3QFY19 were 81% and 1.73% respectively

Mr. Peerapat Srisukont, Managing Director of Frasers Property Industrial REIT Management (Thailand) Company Limited or "FIRM", the REIT manager of FTREIT, said, "We focus on delivering the sustainable growth through our strong asset management by maintaining high renewal and occupancy rates. At present, FTREIT has an average occupancy rate of over 82%.

The distribution payment from 3QFY2019 operations was announced at THB 0.1670 per unit, and increase of 4.4% from THB 0.1600 per unit for the same period of last year, DPU of 9 months operation was 4.8% higher at THB 0.5010 per unit, from THB 0.4781 per unit a year ago."

"Subsequent to the quarter end in 19 July 2019, Board of Directors of REIT Manager approved the addition investment in properties which owned by Frasers Property Thailand. Properties are located in Laemchabang 2 project and Sriracha project, comprise of 2 warehouse buildings with 6 units, net leaseable area around 29,850 sq m, the investment value of not exceeding THB 637 Million. These new properties are high quality building and located in prime industrial and logistics area.