FTREIT announces 9-month performance with almost THB 3,000 million in total revenue; plans to expand portfolio by acquiring nearly THB 900 million in new assets

Dividend payment from third quarter operations was announced at THB 0.1870 per trust unit, which will be paid on 6 September 2024. The accumulated dividend for the first three quarters of FY2024 is THB 0.5610 per trust unit.

Mr. Thanarat Boonyakosol, Managing Director of FIRM, said: "Despite some headwinds from slowing global demand in export products such as automobiles, FTREIT maintained a high average occupancy rate of 86% in 3QFY2024 with industrial estates in Ayutthaya province and the Eastern Economic Corridor (EEC) continuing to see steady demand. Looking ahead, the Thai economy is expected to be supported by continued improvements in the tourism sector and an acceleration in government disbursements. Exports are expected to recover gradually in the second half of the year, fueled by increased foreign investment in Thailand from relocation and product expansion in electronic products such as telecommunication equipment and computer parts."

For 4QFY2024 (July - September 2024), FTREIT expects to acquire high-potential assets including factories and warehouses from Frasers Property Thailand ("FPT") according to the Board of Directors' resolution, FIRM is expected to complete its THB 8741 million investment by September 2024. The assets comprise 10 units of factories and warehouses which span a total of 30,800 sqm.

FTREIT was recently selected as one of 100 listed companies with outstanding ESG (Environmental, Social, and Governance) performance on the ESG100 list in 2024 by Thaipat Institute for the sixth consecutive year. FTREIT's continued inclusion on the list reflects the Manager's efforts to sustain the high ESG performance of FTREIT's portfolio and create stable returns for investors in the long term.

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