TLGF’s Q2 Results – increased income and profit growth To pay return of 0.1878 baht
24 October 2013 – Bangkok, Tesco Lotus Retail Growth Freehold and Leasehold Property Fund (TLGF) announced income and net profit growth in Q2 2013/2014. TLGF’s total income in Q2 2013/2014 was 607,860,194 baht or 40.7% increase when compared to Q2 2012/2013. The fund’s net investment income was 398,951,334 baht, increasing by 36.5% when compared to Q2 2012/2013. We note that the high growth over the same period of last year was because of a different basis. TLGF had 17 properties in the fund in Q2 2012/13 while it has 22 properties currently.
TLGF will pay dividend of the Q2 2013/2014 at 0.1708 baht/unit on 21 November 2013, and will pay capital reduction of 0.0170 baht/unit on 22 November 2013. The total return for Q2 2013/2014, including capital reduction, will be 0.1878 baht/unit.
Somchai Boonnamsiri, CEO of Krung Thai Asset Management PCL (KTAM), TLGF fund manager, said, “In the first half of 2013/2014, TLGF performed well, generating stable return to unitholders. The net investment income of the period was over 815 million baht. The fund continued to pay 100% payout ratio.”
Sompong Rungnirattisai, Property Director of Tesco Lotus said “The growth of half year performance was contributed by TLGF’s occupancy rate that remained almost full at 99.38%. Our optimum balance of tenant mix helps diversify sources of income, and space assembling projects also helped in optimizing existing space. Moreover, TLGF has refreshed two malls, namely Sri Nakarin and Phuket, to improve ambience and facilities which provide better shopping trip, as well as to add the right offers to customers’ needs. Also, the refresh will coincide with the two stores being upgraded to Tesco Lotus Extra.”
Somchai Boonnamsiri concluded that “TLGF continued to grow the fund. Recently, the Investment Committee has approved the additional investment in another Tesco Lotus – anchored mall in Navanakorn area. That reflects the commitment to manage TLGF for unitholders’ best benefit.”
Since its establishment and flagship IPO in 2012, TLGF has invested in 22 Tesco Lotus hypermarket-anchored shopping malls in prime locations across Thailand. TLGF is one of the largest listed property funds in Thailand with a market capitalization of over 30 billion baht (information as of 22 October 2013).
For more information, please contact:
Ek-Chai Distribution System Co Ltd (Tesco Lotus)
Ariya Silakorn 02 797 9000 ext 5507,
ariya.silakorn@th.tesco.comKrung Thai Asset Management PCL
Saengsiri Netumporn 02 686 6100 ext 6206,
saengsiri@ktam.co.th