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Date/Time
27 Dec 2017 17:49:00
Headline
SET News :SET welcomes TREIT, the biggest industrial REIT in Thailand
Symbol
SET
Source
SET
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    News 121/2017
                                                                           
December 27, 2017

SET welcomes TREIT, the biggest industrial REIT in Thailand

Bangkok, December 27, 2017 - The Stock Exchange of Thailand (SET) will list 
additional trust units of TICON Freehold and Leasehold Real Estate Investment
Trust (TREIT) after finishing the conversion process of three property funds,
becoming the biggest industrial real estate investment trust (REIT) in Thailand,
 on December 28, under the ticker symbol "TREIT".

SET Senior Executive Vice President Santi Kiranand said that the additional 
units of TREIT would list and start trading on Property & Construction industry,
Property Fund & REITs sector, on December 28, 2017. TREIT has successfully
received the transfer of assets and liabilities from three property funds,
namely Ticon Property Fund (TFUND), Ticon Industrial Growth Leasehold Property
Fund (TGROWTH) and Tpark Logistics Property Fund (TLOGIS). The conversion drives
its total combined asset to THB 30.65 billion (approx. USD 928.8 million) as of
September 30, 2017. TREIT has invested in freehold rights and leasehold rights
of lands, warehouses and factories with the remaining of lease contract rights
of 26 years and the tenants are Thai companies and multinational firms. TREIT
assets consist of 192 units of warehouses and 300 units of factories in more
than one million square meter area in the Eastern Economic Corridor.

TREIT offered  2.04  billion trust units with cash of THB 3.5 billion to 
existing shareholders of TFUND, TGROWTH and TLOGIS, via a swap in exchange of
the assets and liabilities. The swap ratio for TFUND : TREIT is at 1 : 0.9874
plus cash of THB 1.6977 per unit; TGROWTH : TREIT at 1 : 0.8673 plus cash of THB
1.4911 per unit; and TLOGIS : TREIT at 1 : 1.0129 plus cash of THB 1.7415 per
unit. TICON Management Co., Ltd. (TMAN) is it's the REIT Manager, BBL Asset
Management Co., Ltd is its trustee, while Phatra Securities pcl is its financial
 advisor.

TMAN Managing Director Peerapat Srisukont said that TREIT has invested in the 
freehold and leasehold rights of high quality properties located in various
locations, plus benefits from balanced mixture of freehold and leasehold
investments which will subsequently yield higher return. The properties are also
leased by quality, stable and diversified tenant base. In addition, TREIT is
managed by TMAN's experienced and professional management team with extensive
expertise in property development and management. The conversion will enhance
future opportunities to gain more benefits from asset diversification, providing
opportunity for future investment which will eventually yield higher returns
for unit holders.

TREIT's dividend policy is to pay at least twice a year at no less than 90 
percent of the adjusted net profit of its financial year.

For more information, please see TREIT's prospectus at the Securities and 
Exchange Commission's website at www.sec.or.th, and the trust's general
information at  www.treit.co.th, as well as www.set.or.th .

                               "SET... You Grow, We Groom"

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