Frasers Property Industrial REIT Management (Thailand) Company Limited (FIRM), the REIT manager of Frasers Property Thailand Industrial Freehold & Leasehold REIT (FTREIT), announced its 1HFY2025 (October 2024 - March 2025) performance. FTREIT delivered total revenue of THB 2,091 million, an increase of 5.9% or THB 116 million year-on-year (Y-o-Y), while its net profit on investment increased by 8.8% or THB 113 million Y-o-Y to THB 1,388 million. In 2QFY2025 (January - March 2025), FTREIT achieved quarterly revenue of THB 1,057 million, an increase of 7.4% or THB 73 million Y-o-Y, with net profit on investment at THB 702 million, an increase of 9.9% or THB 63 million.
Mr. Bhumpharn Arunthammakul, Managing Director of FIRM, said, "The market outlook for 2QFY2025, FTREIT has benefited from sustained demand for factory and warehouse rental space from electronics and other industrial sectors. This increased demand was from foreign investors entering Thailand and expanding their production capacity, consequently driving a continuous growth in the average occupancy rate. Our occupancy rate has increased from the previous quarter's new high to reach an all-time high of 90%.
The distribution payment from operations in the second quarter, amounting to THB 0.188 per unit, will be paid on 6 June 2025. The accumulated distribution of FTREIT for the first half of fiscal year 2025 is THB 0.376 per unit.
The March 2025 earthquake originating in Myanmar was felt as far as Thailand. FIRM and the Property Manager have completed the inspection of the properties under management. Some properties require repairs that are underway, but there is no impact on our tenants' business operations. FTREIT is covered by Industrial All-Risk Insurance, covering property damage caused by the earthquake.
On the economic outlook, FTREIT is monitoring current developments in trade policies and expects volatility from changes in tariff rates. FTREIT's operation and rental income collection are relatively stable, and are continuing to close deals and sign new lease agreements for factories and warehouses.
To maintain stability and growth for FTREIT under more challenging situations, FIRM will manage the portfolio flexibly, focused on sustaining value by operating through a flexible leasing strategy. This includes offering a diverse range of leasing packages and services, encompassing both short-term and long-term agreements. Moreover, industrial buildings' usage can be adapted to serve as both warehouses and factories to meet market demands. For added customer centricity, FIRM is stepping up its delivery of comprehensive lifecycle services that meet tenants' different property needs, from consultation to after-sales support.
Simultaneously, FIRM is working closely with Frasers Property Thailand Group, the property manager, to identify and create opportunities for sustainable growth by developing and upgrading buildings to be more efficient under green building standards. It will also unlock new value by leveraging innovation, technology, and new solutions to enhance operational capabilities, improve service efficiency, and generate added value for FTREIT in the future.
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