BANGKOK – AUGUST 20, 2019

Frasers Property (Thailand) Public Company Limited or “FPT”, a leading provider of integrated real estate platform, announced the successful acquisition of 94.5% of securities Golden Land Property Development Public Company Limited or “GOLD” at THB 8.50 per share.

Mr. Sopon Racharaksa, President of FPT said, “This marks the coming together of two leading real estate developers. FPT now possesses the full range of capabilities across multiple-asset classes, giving us added competitive edge with a bigger network of customer touchpoints and greater flexibility to optimize the use of our land banks and properties. We look forward to achieving synergies between both companies to extend our horizon of long-term sustainable growth. With enhanced access to the enlarged talent pool and reputable partners, we are confident of building FPT into Thailand’s leading provider of integrated real estate platform.”

“In addition to this, FPT recently announced the nine-months into fiscal year 2019 (1 October 2018 to 30 June 2019) have hit new-high since the injection of new capital by Frasers Property in 2016. The nine-month revenue of THB 4,707 million exceeded its past record, rising THB 2,419 million or 106% from the same period of last fiscal year. Net profit also grew to THB 1,038 million, an increase of THB 474 million or 84% year on year. The occupancy rate of our factory and warehouse spaces currently stand at 81%,” Mr. Sopon Added.

Apart from this, FPT is the sponsor and manager of Thailand’s largest industrial REIT, Frasers Property Thailand Industrial Freehold & Leasehold REIT (“FTREIT”), which is focused on industrial and logistics properties in Thailand. Currently, FTREIT has total assets worth over THB 36 billion.

“FPT continued to achieve outstanding business performance as a result of our growing industrial property business, particularly in the build-to-suit segment. FPT also provides on-going support to our partners in meeting their needs for modern, quality properties with specifications that serve their business operations. Recently, FPT successfully secured another flagship mega-scale build-to-suit project to develop Thailand’s first world-class logistics campus for Central Retail.” Mr. Sopon noted.

In July 2019, FPT raised THB3,269 billion in a private placement. The private placement enlarged its investor base, improved its free float, and importantly, further strengthened its balance sheet flexibility for future business expansion.