Frasers sees 12% bump in total income for second quarter
Frasers Property Thailand Industrial Freehold & Leasehold REIT (FTREIT) has announced second-quarter recorded net investment income of Bt463 million from total income of Bt718 million, a Bt78-million increase, or up 12 per cent from the corresponding quarter of fiscal year 2019.
For the six-month period from October 1, 2018 to March 31, 2019 FTREIT’s net investment income reached Bt885 million from total income of Bt1.39 billion, an increase of Bt564 million or 68 per cent from last year’s corresponding half-year.
Peerapat Srisukont, managing director of Frasers Property Industrial REIT Management (Thailand) Co Ltd (FIRM), said, “The significant growth reflects FIRM’s efficiency in asset management, which focuses on generating sustainable income … At present, FTREIT has an average occupancy rate of over 80 per cent and continues its steady growth going forward.”
The second-quarter dividend payment was announced at Bt0.1670 per unit.
“In the second half of fiscal year 2019, FTREIT will consider to invest in high potential assets from Frasers Property Thailand. Concurrently, FIRM as a REIT manager will maintain high occupancy rate of the portfolio while also managing the operational costs to generate sustainable and consistent returns to FTREIT’s unit holders. FIRM will continue to reaffirm its leadership position as Thailand’s largest industrial and logistics REIT,” Peerapat said.
