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News

29
Jan
2019
"TMAN" and "TREIT" Officially Affiliated into "Frasers Property" Ready to Become Leading Industrial & Logistics REIT in Southeast Asia
  • By Leveraging the expertise of Frasers Property Group, the company is confident that this change will strengthen the performance and establish FTREIT at an international level.
  • Supporting FTREIT to attract more investors from Thailand and globally.

Bangkok (29 January 2019) – "TMAN" announced the conclusion from the board meeting dated December 12, 2018 that the board of directors unanimously agreed to change "TICON Management Company Limited" or "TMAN" to "Frasers Property Industrial REIT Management (Thailand) Company Limited" or "FIRM". Meanwhile, the board of directors also approved to rebrand "TICON Freehold & Leasehold Real Estate Investment Trust" (TREIT) to "Frasers Property Thailand Industrial Freehold & Leasehold REIT" and changed its stock market’s trading ticker to "FTREIT". The notification has officially been made to the unitholders at the company’s 2019 annual general meeting. The new brands demonstrate the alignment as subsidiaries under the same brand of Frasers Property Limited (FPL).

Mr. Peerapat Srisukont, Managing Director of Frasers Property Industrial REIT Management (Thailand) Company Limited or ‘FIRM’, revealed, "As an expert in REIT management, our company has achieved a recognition for ‘TREIT’ or now rebranded to ‘FTREIT’ as Thailand’s largest industrial and logistics REIT for two consecutive years, with total assets worth over 35 billion baht. In pursuit of the next success, we will drive the growth of FTREIT to become a leading industrial and logistics REIT in ASEAN through the new affiliation and strong support from Frasers Property (Thailand) Public Company Limited. Frasers Property Thailand is best known by the company’s former name TICON Industrial Connection Public Company Limited (TICON), our major shareholder and a member of Frasers Property Limited Group, a multi-national company listed on Singapore Stock Exchange, that owns, develops and manages a diverse, integrated portfolio of five real estate asset classes in Singapore, Australia, Europe, China and Southeast Asia."

"After the affiliation to Frasers Property Limited Group, we expect FTREIT to gain its international recognition as well as aptitude to attract more domestic and international investors. With the company’s expertise and experience as the country’s leading REIT manager, coupled with knowledge assets and affiliation within Frasers Property Group, we are primed to invest in potential, high-quality properties both in domestic and international markets. As for 2019 fiscal year, our goal is to increase FTREIT growth by between three up to five billion baht per annum, paving way for it to become a leading industrial and logistics REIT in ASEAN," Mr. Peerapat concluded.