Frasers Property Thailand Forecasted Upbeat Outlook for 2H19
  • FPT signaled a surge in its performance for 2HFY19 with additional revenue from sales of industrial properties worth THB637 million to FTREIT and sales of 340 rai of lands in Bangpakong and Wangnoi areas to joint venture companies with Mitsui Fudosan Asia (Thailand) Co.,Ltd to develop smart industrial and logistics parks.
  • The underlying operating performance for Industrial Property business remains robust with occupancy rate of total assets under management reaching 80% with overwhelming demand in Samutprakarn and EEC areas. Pipeline for Build-to-Suit development remains strong and is on track to achieve development target of 120,000 sqm announced earlier this year.
  • On 19th July 2019, FPT successfully raised THB3.2 billion under Private Placement of ordinary shares. The proceeds will be used to fund future investments and business expansions.

BANGKOK, 22 July 2019

Frasers Property Thailand Public Company Limited or “FPT”, the leading provider of integrated real estate platform, affirmed this year higher performance from all aspects and approved issuance and allocation of 182,620,600 newly issued ordinary shares under private placement, translating to proceeds of THB3.2 billion.

Mr. Sopon Racharaksa, President of Frasers Property (Thailand) Public Company Limited or “FPT” revealed, “We are ready for another asset divestment to FTREIT after the Board has approved a swapping of assets from 14 factories to 6 warehouses of total 30,000 sq.m. with approximate valuation of THB637 million to better align asset management strategies between FPT and FTREIT and maximize shareholder values of both entities. FPT will sell and transfer the ownership and/or lease hold within FY19 and will recognize sales of such assets in 2H19.”

The Build-to-Suit (BTS) pipeline remains robust and the company expects to outperform its development target of 120,000 sq m for FY19 announced earlier this year.

The proceeds of the Private Placement successfully done overnight on 19 July 2019 will be used for future investments and business expansions. The transaction will also unlock trading liquidity and free float requirement of FPT shares under SET regulations. The company has been successful in this capital increase, reflecting the confidence of investors towards the business potential of the company under the leadership strategy of providing a full range of real estate platform services. After giving the effect to the Private Placement, FPT now has 2,016,762,975 paid-up ordinary shares at a par value of THB1 per share.

The Voluntary Tender Offer (VTO) for all securities of Golden Land Property Plc. or GOLD is on progress. On 19 July 2019, Univentures Public Company Limited, a major shareholder of GOLD, announced that its shareholders have approved disposal of 39.28% shares in GOLD to FPT. The VTO process will end on 8 August 2019.

Mr. Sopon Racharaksa added “We look forward to working closely with GOLD to deliver a world-class integrated property development to our customers. We continue to explore new investment and business expansion opportunities to deliver sustainable growth to our shareholders.”