FTREIT’s total revenue for the fiscal year 2019, from 1 October 2018 to 30 September 2019, was 2,807.1 million Baht, a 30.9% increase y-o-y.
Announced a distribution of 0.1670 Baht per unit for Q4, bringing full year dividend for FY2019 to 0.6680 Baht per unit, a 4.7% increase y-o-y.
Portfolio occupancy rate was healthy at 83.1% with a WALE of 2.33 years as at 30 September 2019, and the renewal rate was maintained at 85.8% in FY2019.
FTREIT geared for growth with investments in high potential assets from its sponsor, Frasers Property Thailand, and non-group entities worth over 3,201 million Baht.
Mr. Peerapat Srisukont, Managing Director of Frasers Property Industrial REIT Management (Thailand) Company Limited or “FIRM”, as the manager of FTREIT, today announced FTREIT’s results for the full year ended 30 September 2019 comparing with 12-month operation results from note to financial statement no. 22 Supplementary informations and Distribution for the fourth quarter of FY2019. “FTREIT reported total revenue of 2,807.1 million Baht for FY2019, an increase of 30.9% from 2,145.3 million Baht a year ago, while net investment income increased 31.6% year-on-year to 1,739.2 million Baht. The increase took into account contributions from FTREIT’s acquisition of strategic locations and high potential assets worth over 3,201 million Baht from FTREIT’s sponsor, Frasers Property (Thailand) Public Company Limited, and non-group entities. FTREIT has also expanded its rental area to 1,700 sq.m. by investing in a leased factory in Amata City Rayong Industrial Estate.
The portfolio recorded a higher occupancy rate at 83.1% as at 30 September 2019, compared to 79.2% a year earlier. The growth was mainly due to an increase in the number of tenants in the electronics, automative, and logistics sector, as well as a high renewal rate of 85.8%.
For FY2019, FTREIT announced a dividend of 0.6680 Baht per unit, an increase of 4.7% from the same period of last year.
“As the REIT manager, we will continue to focus on delivering sustainable growth through strong asset management and maintaining high renewal and occupancy rates. We are confident of delivering strong performance going forward and will continue to look for potential investment opportunities to generate sustainable income and a high return to unitholders for the fiscal year 2020.” Mr. Peerapat concluded.