LHSC, the REIT for the Terminal 21 shopping center from Land and Houses Public Company Limited, is preparing to hold a roadshow for retail investors to provide details about the capital increase for the first additional investment through an online system on October 16. It will be broadcast on Facebook: Wealthy Thai. The subscription period for existing trust unit holders and the general public will be from November 4-8, aimed at further investing in the "Terminal 21 Pattaya" shopping center, a landmark in North Pattaya with an average occupancy rate of 99%, supporting an estimated distribution yield of 9.5%.

Ms. Jittisa Charoenpanit, Executive of Investment Banking at Kasikornbank Public Company Limited, as the financial advisor and co-distributor, revealed that as interest rates have peaked and are expected to decline, the prices of REITs, especially those with good performance and growing income from property investments, have begun to gradually rise. This presents a good opportunity for investors to choose quality REITs at this time. The LH Shopping Centers Leasehold Real Estate Investment Trust (LHSC), which currently invests in the "Terminal 21 Asoke" project, is set to increase its capital to expand its asset portfolio further into the "Terminal 21 Pattaya" project. Both Terminal 21 Asoke and Pattaya are tourist malls whose project revenues benefit positively from the current growth in tourism and retail business. LHSC estimates a distribution yield of up to 9.5% in 2025 after the capital increase, with LHSC planning to invest in the lease rights of the "Terminal 21 Pattaya" project for approximately 24 years, with an investment value not exceeding 5.7 billion baht (excluding VAT and related fees). Funding will come from issuing and offering additional trust units valued at no more than 3.19 billion baht, with the remainder sourced from loans from financial institutions. Recently, the SEC has approved the application for the sale of trust units and the filing documents, which are now effective.

Existing trust unit holders of LHSC listed in the register as of October 18, 2024 (XR date October 16, 2024) and the general public can subscribe from November 4-8, 2024, at the maximum offering price to be announced on the Stock Exchange of Thailand's website on October 29, 2024. Existing trust unit holders can subscribe through the trust unit distributors, including Kasikornbank Public Company Limited and Siam Commercial Bank Public Company Limited. The general public can subscribe at Kasikornbank Public Company Limited, Siam Commercial Bank Public Company Limited, Innovest X Securities Company Limited, Land and Houses Securities Public Company Limited, and CIMB Thai Bank Public Company Limited.

Mr. Yosweer Sutthikulpanit, Executive of Investment Banking and Capital Markets at Siam Commercial Bank Public Company Limited, as the financial advisor and co-distributor, stated that in the second half of this year, the overall Thai stock market has become more active, with an increase in average daily trading volume, reflecting greater participation from all types of investors. In the third quarter, foreign investment or Fund Flow has turned to net buying after being net selling in the first two quarters. Additionally, the Thai stock market will continue to receive support in the fourth quarter from new investments from the Vayupak Fund, the Thai ESG Fund, and the onset of the high season for tourism, which is a key driver of the Thai economy.

Investing in the LHSC REIT is therefore an attractive option, as both the current asset of the fund, the Terminal 21 Asoke shopping center, and the additional investment asset, the Terminal 21 Pattaya shopping center, attract a large number of both Thai and foreign tourists. This additional investment will diversify the investment locations into leading global tourist cities, strengthening operational performance and increasing opportunities for returns for LHSC trust unit holders.

Mr. Monrat Padungsit, Managing Director of Land and Houses Fund Management Company Limited (LH Fund), as the trust fund manager, stated that LHSC benefits from the overall growth of tourism in Thailand, with 17.5 million foreign tourists visiting Thailand in the first six months of this year, an increase of approximately 35% from the first half of 2023. The forecast for the entire year of 2024 is 36 million tourists. Meanwhile, the overall retail business is recovering strongly, especially in prime shopping center projects in Pattaya, which have an average occupancy rate of over 90% at the end of Q2 2024. The Terminal 21 Pattaya project, which is the asset LHSC will further invest in, has an average occupancy rate of 99%. The project is located at the Dolphin Roundabout in the heart of North Pattaya, accessible via multiple routes, and is only an hour and a half from Bangkok, with parking available for over 2,000 vehicles, situated near the Grand Center Point Pattaya hotel and close to the Grand Center Point Space Pattaya hotel.

Dr. Natthakawin Chiamchotipatanakul, Senior Director of the Infrastructure and Real Estate Fund at Land and Houses Fund Management Company Limited, as the trust fund manager, stated that the Terminal 21 Asoke shopping center, which is the current asset of the trust, is located near the Grand Center Point Terminal 21 hotel in the heart of Asoke-Sukhumvit, a junction for the BTS Asoke and MRT Sukhumvit lines, surrounded by 4-5 star hotels, condominiums, office buildings, educational institutions, and international convention centers. The project has an average occupancy rate of 98% at the end of Q2 2024, and in the first half of 2024, LHSC generated total investment income of 696.3 million baht and net profit from investments of 321.4 million baht, growing over 35% from the same period last year, and has already paid a dividend of 0.527 baht per unit from the first half's performance. The potential of the Terminal 21 Pattaya shopping center, where the trust will further invest, will help increase the trust's asset size, enhance liquidity, and create better return opportunities for investors.