• Frasers Property Thailand is confident that it will exceed its growth targets in the second half of the year, preparing to recognize revenue from the planned sale of high-quality assets to the FTREIT trust amounting to over 637 million baht, as well as revenue from the sale of 340 rai of land in Bang Pakong and Wang Noi to a joint venture with Mitsui Fudosan Asia (Thailand) Co., Ltd. for development into a Smart Logistics Park project.
  • The industrial real estate sector continues to grow steadily, with an average occupancy rate of over 80% for factory and warehouse spaces, driven by market growth and the expansion of new customer bases, particularly in Samut Prakan and the Eastern Economic Corridor (EEC) development projects, with demand for Build-to-Suit developments expected to reach the target of 200,000 square meters.
  • On July 19, 2019, the company issued and offered over 2 billion baht in additional common shares through a private placement to be used for investment and business expansion.

Bangkok, July 22, 2019 - Frasers Property (Thailand) Public Company Limited, or “FPT,” a leader in providing comprehensive real estate platform services, is confident that this year's performance will be successful, with improved revenue across all segments. The company is moving forward with the acquisition of Golden Land, and has approved the issuance and sale of an additional 182,620,600 common shares to a limited group of individuals, raising over 3.2 billion baht.

Mr. Sopon Rajaraksa, Managing Director of Frasers Property (Thailand) Public Company Limited, or “FPT,” stated that the company is ready to proceed with the second asset sale of the fiscal year 2019 to the FTREIT trust. The board of directors has approved the sale of a new asset package, reducing the original plan from 14 factories to 6 warehouses in the EEC area, totaling nearly 30,000 square meters, with a transaction size of approximately 637 million baht. The company expects to complete the sale and transfer of ownership within this fiscal year and will recognize revenue in the second half of the year.

Demand for Build-to-Suit warehouses continues to attract significant interest from large clients, and the company anticipates that it will achieve greater growth than the original target of 120,000 square meters set at the beginning of the year.

Additionally, on July 19, 2019, following the board meeting's resolution to approve the issuance and sale of additional common shares valued at 3.2 billion baht to a limited group (Private Placement), the company successfully raised funds, reflecting investors' confidence in the company's business potential under its strategy to be a leader in providing comprehensive real estate platform services. The funds raised will be used for investment and business expansion, as well as increasing the Free Float ratio and enhancing the liquidity of the securities under the regulations of the Stock Exchange of Thailand. After this capital increase, the company will have a paid-up capital of 2,016,762,975 shares with a par value of 1 baht per share.

Regarding the progress of the acquisition of Land and Houses Public Company Limited (GOLD) through a voluntary tender offer, the company is proceeding according to plan. The extraordinary general meeting of shareholders No. 1/2019 on July 19, 2019, approved the sale of all common shares held in GOLD, amounting to approximately 39.28%, to FPT through the voluntary tender offer, which will conclude on August 8, 2019.

Mr. Sopon Rajaraksa further stated, “The merger with GOLD represents another significant step for the company in expanding its business to strengthen its platform for comprehensive real estate development and management. Additionally, the company is continuously seeking investment opportunities and business expansion to create sustainable growth for the organization and its shareholders.”

Thank you for the information from www.frasersproperty.co.th