WHART Trust showcases its performance for the second quarter of 2022 (April 1 - June 30) with continuous growth, achieving an average occupancy rate of 92%. This is bolstered by the thriving consumer goods (FMCG) and e-commerce sectors, contributing to total revenue of 772.83 million baht and a net investment profit of 610.87 million baht. As a result, the board has resolved to pay a dividend of 0.1920 baht per unit, an increase of 0.0005 baht per unit compared to the same period last year. The ex-dividend date is set for August 18, 2022, with payment scheduled for September 2, 2022.

Mr. Anuwat Jarukornsakul, Chief Executive Officer of WHA Real Estate Management Co., Ltd., as the manager of the WHA Premium Growth Trust (“WHART Trust”), revealed that the performance for Q2 ending June 30, 2022, has shown continuous growth compared to the same period last year (YoY).

The average occupancy rate stands at 92%, up from 88% in the previous year, with the majority of tenants coming from the logistics service providers (3PLs), consumer goods (FMCG), and e-commerce sectors, accounting for 44%, 19%, and 17%, respectively. These sectors have demonstrated stability and positive performance despite the ongoing COVID-19 pandemic. As of the end of Q2 2022, WHART Trust has an average lease term (WALE) of 3.56 years, contributing to the overall strong performance of the WHART Trust.

This growth has resulted in total revenue of 772.83 million baht, an increase of 197.07 million baht, due to revenue recognition from the seventh property investment (sixth capital increase) on December 2, 2021, and improved performance of existing properties compared to the same period last year. The net investment profit reached 610.87 million baht, an increase of 217.45 million baht from the previous year, reflecting the improved actual performance of the trust. During Q2 2022, the trust recorded a decrease in the valuation of the seventh property investment (sixth capital increase) by 482.46 million baht, which is an accounting value and not a cash expense for WHART Trust.

Due to this continuous growth, the WHART Trust has approved the distribution of benefits to unit holders for the performance period from April 1 to June 30, 2022, in the form of a dividend at a rate of 0.1920 baht per unit, an increase of 0.0005 baht per unit compared to the same period last year. The record date for the transfer of trust units to determine the right to receive dividends is set for August 22, 2022, with the ex-dividend date (XD) on August 18, 2022, and dividend payment on September 2, 2022.

Regarding the progress of the eighth property investment in leasehold rights and sublease rights of WHA Corporation's real estate and other assets, valued at no more than 4,050.86 million baht, the WHART Trust has already submitted a filing to the Securities and Exchange Commission (SEC).

The properties that WHART Trust will invest in this time are distinguished by their strategic location as a logistics hub in Thailand, close to Bangkok and the EEC area, allowing easy access to Suvarnabhumi Airport, Laem Chabang Port, and major roads leading to the EEC. This includes a warehouse and factory project with a total rental area of 159,963 square meters, featuring long-term leases from leading tenants, with the main current tenants being CRC Thai Watsadu Co., Ltd., Kerry Logistics (Thailand) Co., Ltd., and DKSH (Thailand) Co., Ltd.

Upon completion of this additional investment, the total asset value of WHART Trust will reach approximately 52,406.83 million baht, with managed rental space increasing to 1,743,681.80 square meters, parking space of 32,650.19 square meters, and rooftop rental space of 450,777.29 square meters, making WHART Trust one of the largest industrial trusts in Thailand.