Frasers Property Industrial REIT Management (Thailand) Co., Ltd. or “FIRM”, as the manager of the Frasers Property Real Estate Investment Trust or “FTREIT”, has announced its performance for the first 9 months of the fiscal year 2024 (October 2023 – June 2024), reporting total revenue of 2,973.2 million baht, an increase of 163 million baht or 5.8% compared to the same period last year. Net investment income reached 1,938.3 million baht, up by 50.5 million baht or 2.7% year-on-year. In the third quarter of fiscal year 2024 (April – June 2024), total revenue was 999.1 million baht, an increase of 56.2 million baht or 6% compared to the same period last year, with net investment income rising to 663.1 million baht, up by 46.9 million baht or 7.6% year-on-year.

FTREIT has announced a quarterly dividend for Q3/2024 of 0.1870 baht per trust unit, scheduled for payment on September 6, 2024. Cumulatively, for the three quarters, FTREIT has declared a total dividend of 0.5610 baht per trust unit.

Mr. Thanaratch Boonyakosol, Managing Director of FIRM, stated that the Thai economy continues to show growth potential driven by the tourism sector and increased government spending in the middle of the year. Although the export sector is expanding at a low level, it is expected to recover in the second half of the year, particularly in electronics, supported by foreign investors relocating and expanding their production bases in Thailand, such as telecommunications equipment and computer parts. However, some product categories, like automotive, are facing additional pressure due to a slowdown in export market demand. Nevertheless, in the past quarter, the trust maintained a high average occupancy rate of 86% and observed continuous demand for factory space, especially in industrial estates in Phra Nakhon Si Ayutthaya and the Eastern Economic Corridor (EEC).

For Q4 (July – September 2024), FTREIT plans to invest in assets from the Frasers Property (Thailand) Group or “FPT” as approved by the trust manager's board meeting, with an investment value of 874 million baht1. The focus will be on investing in factory-type assets according to market demand, comprising 8 units of factory buildings and 2 units of warehouses, totaling 10 units with a combined rental area of approximately 30,800 square meters. The transfer of assets to FTREIT is expected to be completed by September 2024.

Recently, the Thai Institute for Sustainable Development, which develops sustainability data for businesses in Thailand and compiles the ESG100 securities list, announced that FTREIT has maintained its status as a selected registered security in the ESG100 group for the sixth consecutive year, based on publicly disclosed environmental, social, and governance (ESG) performance data. This reflects FTREIT's commitment to sustainability, which can provide good and stable returns for investors in the long term.