BAREIT Trust highlights the potential of Samui Airport assets, growing alongside the recovery of Thailand's tourism sector. Subscription for trust units will be open from August 22-26, with an expected first-year yield of 8.09-8.95%.

The Bangkok Airways Airport Leasehold Real Estate Investment Trust or BAREIT emphasizes the potential of Samui Airport, a gateway to world-class tourist destinations for travelers worldwide, with a total value not exceeding 14.3 billion baht. The subscription for trust units will be open from August 22-26 at a price of 10 baht per unit through Kasikorn Bank and participating distributors, with an estimated first-year yield of 8.09-8.95%.*

Mr. Putthipong Prasatthongosoth, CEO of Bangkok Airways Public Company Limited or BA, shared his perspective: "Following the easing of the COVID-19 pandemic and the full reopening of the country, the overall tourism landscape in Koh Samui is gradually recovering. In the first half of the year, both the number of flights and passengers of Bangkok Airways increased by over 30% compared to the pre-COVID-19 period, and this trend is expected to continue. In 2023, we anticipate a recovery of over 80%, which will invigorate Samui Airport and provide stable income for investors," Mr. Putthipong stated.

Additionally, Mr. Putthipong, as the asset owner (Sponsor), revealed that Samui Airport is strategically located in a key tourism area and serves as a gateway to Thailand, facilitating travel to major cities in the region. Operational since 1989, it is an international airport designed with an emphasis on environmental harmony and a resort-style ambiance, earning numerous awards, including recognition as the world's most punctual small airport. Samui Airport can accommodate approximately 6 million passengers annually and is less than an hour's travel from Bangkok, making it a popular choice for tourists heading to Samui.

Ms. Lila Phat Lilaewanich, Managing Director of Bangkok Reit Management Co., Ltd., as the trust manager, stated that the Bangkok Airways Airport Leasehold Real Estate Investment Trust (BAREIT) aims to invest in leasehold rights of properties used for operating Samui Airport, which has high growth potential. Koh Samui is a significant tourist destination in Thailand, and Samui Airport serves as the entry point for tourists visiting Koh Samui and nearby islands, effectively generating revenue in line with tourist growth. Samui Airport is indeed a crucial gateway to world-class attractions, having welcomed over 2.6 million travelers annually and operated more than 30,000 flights per year over the past decade (2010-2019).

The total investment value of the trust is not exceeding 14.3 billion baht, sourced from fundraising through the sale of trust units amounting to no more than 10.33 billion baht and long-term loans not exceeding 5.06 billion baht. The trust will generate income from leasing the property to Bangkok Airport Management Co., Ltd., a subsidiary of Bangkok Airways Public Company Limited, which manages the airport, ensuring effective management of the asset and reliable income from capable tenants. This will result in consistent income for the trust over a 25-year period, with the ability to adjust rental rates by approximately 2% annually. The estimated yield paid to unit holders will occur up to four times a year, with the first-year yield expected to be around 8.09-8.95% per year, making it one of the more attractive trusts in the market.

Mr. Sawit Srisanthong, Executive of the Investment Banking Group at Kasikorn Bank Public Company Limited, as the financial advisor and distributor manager, stated that BAREIT is the first trust to invest in airport lease rights in Thailand. The subscription demand for BAREIT has received positive feedback from investors across all groups, thanks to its unique asset profile compared to other trusts in Thailand, along with stable income from leasing Samui Airport to a subsidiary of Bangkok Airways, which manages the airport, ensuring consistent revenue from airport operations.

It is anticipated that the trust unit offering will be well-received by investors seeking steady returns from distributions to trust unit holders. The subscription period for trust units will be open from August 22-26, 2022, at a price of 10 baht per unit, with a minimum subscription of just 10,000 baht. Interested investors can subscribe through Kasikorn Bank, Bangkok Bank, Krung Thai Bank, KGI Securities (Thailand) Public Company Limited, KTBST Securities Public Company Limited, Pie Securities Public Company Limited, and Maybank Securities (Thailand) Public Company Limited. The trust units are expected to be listed for trading on the Stock Exchange of Thailand within September. Interested investors can find more information at https//market.sec.or.th/public/ipos/IPSEQ01.aspx?TransID=420284&lang=th or www.bareit.co.th.

*Note: The estimated yield refers to the projected distribution rate of the trust for the period from August 1 to July 31, 2023, based on the asset value the trust will invest in as outlined in the prospectus.