FPT’s Success in “One Platform” Strategy Leads to an Upgraded TRIS Credit Rating to “A”

Frasers Property (Thailand) Public Company Limited (FPT), the first company with a fully integrated real estate platform in Thailand, today announced that TRIS Rating has upgraded the company rating from “A-” to “A” with a “stable” rating outlook. This reflects FPT’s status as a strategically important member of Frasers Property, a multi-national company that develops, owns and manages a diverse, integrated portfolio of properties.

 

Mr. Thanapol Sirithanachai, Country Chief Executive Officer, Frasers Property Thailand, said: “Through the One Platform strategy, we maintain FPT’s status quo of leadership with the diversified portfolios spanning residential, industrial and commercial. While the integrated platform supports our business efficiency and risk management strategy, it also builds resilience into the portfolios, provides steady recurring income, and improves liquidity management capabilities. FPT is ready for investment opportunities and future developments.”

The upgrade of TRIS Rating is a testament to FPT’s robust financial capabilities and the importance of the company as the strategically important member of Frasers Property Limited, the headquarter which is a multi-national property development company listed on the Singapore Stock Exchange.

TRIS considered upgrading FPT due to its large business scale with a diversified portfolio of multi-asset classes which provide the Company stability through recurring revenue streams from its industrial and commercial properties’ rentals. FPT’s factories and warehouses are widely accepted in the market locally and internationally and foreseen as the leader in the market. Besides, the industrial business will remain strong with favorable e-commerce growth. In addition, all its Grade A office buildings in the Central Business District under its commercial business maintain healthy occupancy rates at 94-95% while the hospitality business is anticipated to gradually recover.

With THB 1.1 billion in cash on hand plus undrawn committed credit facilities for loans, FPT is ensured of its liquidity to be adequate over the next 12 months for business operations, investments and developments.