FPT Aims to Sell Assets Worth ฿600M. to FTREIT for Business Expansion and Debt Settlement

Frasers Property (Thailand) Public Company Limited (FPT) announced the Board of Directors has approved offering of properties to Frasers Property Thailand Industrial Freehold & Leasehold REIT (FTREIT) worth approximately THB 631 – 652 million while the book value of the company assets is THB 95 million. The offering properties to FTREIT is approximately 14 factories with usable area of approximately 35,405 square meters which expected to be transferred by 30 September 2019. The purpose of this offer is converting the asset to capital for the business expansion and debt settlement.