WHART Trust closes the subscription for the 6th capital increase Institutional and retail investors show a 9-month budget, total revenue 1,932.43 million baht, distribute dividends at the rate of 0.2553 baht to the existing unitholders.
Today (25 Nov. 21) Mr. Anuwat Jarukornsakul, Chief Executive Officer of WHA Real Estate Management Company Limited as the REIT Manager of Investment Trust In real estate and leasehold rights, WHA Premium Growth (WHART) revealed that after opening to the group of existing unitholders of WHART Trust who have the right to subscribe to the trust unit The 6th capital increase will be held between 8-12 November 2021 and open to general investors. Subscription of trust units Between 16 -19 November 2021, with the last bid at 12.60 baht per unit, it appears that investors have responded well. This reflects the confidence in the potential of the assets that WHART Trust will invest in 3 additional projects with a total leased area of approximately 184,329 square meters, covering strategic points in the main logistics industries of Thailand. and the area supporting the Eastern Economic Corridor (EEC) development project
The assets invested by the REIT include WHA Mecca Logistics Center Project (Wang Noi 62) WHA Mecca Logistics Center Project (Bangna-Trad Km. Road) 23 Project 3) and WHA E Commerce Park Project located at Bang Pakong District. Chachoengsao Province. All 3 projects have tenants who are leading companies in growing business groups such as E-Commerce and FMCG, which are businesses that benefited positively from the Covid-19 situation. and growing rapidly Distinguished from this capital increase It is a good way to diversify the REIT’s risks. It can be seen that the proportion of EEC area will increase from 14.1% to 20.6%, which is in line with the government’s strategic plan that focuses on promoting investment in special economic zones. while the proportion Built-to-Suit will increase from 55% to 58%, which will increase the potential for long-term income stability
For this capital increase also significantly increased the proportion of tenants in the E-Commerce business group from 6% to 17% (as of June 30, 2021) and thus the REIT has almost all of the major tenants in the E-Commerce group No Whether it’s Alibaba, Shopee Xpress, JD Central, Kerry and Flash Express, etc.
In addition, the assets to be invested in this time have an average occupancy rate of 92% and the average remaining lease term of the lessee (WALE) is 10.7 years. The average tenant’s remaining balance will increase to the level of 3.5 years due to the projects that the REIT invests in this time. Most of them are type Built-to-Suit and has a long lease of tenants
After this additional investment in the core assets is completed, WHART will have the total asset value of the REIT. Touching the level of more than 48 billion baht and the leased area under management increased to 1.58 million square meters. This makes WHART Trust the leader of the distribution center trust. The largest warehouse and factory in Thailand Most importantly, it is still able to pay compensation and capital reduction not inferior to before. Referring to the income statement and disbursement of compensation according to the scenario in 2022 (Jan.-Dec. 65), it will increase to 0.80 baht per unit.
In addition, recently informed the Stock Exchange of Thailand. to the overview of the results of the past period that The REIT has a better direction compared to the same period of the previous year. From the expansion of tenants in the logistics service provider (3PLs), consumer goods (FMCG) and E-Commerce, which are the REIT’s main tenants, growing and occupying space. more warehouse As a result, the average occupancy rate (Average Occupancy Rate) of WHART Trust as of Q3/21 increased to 92% from the first half with an average occupancy rate of 88%, resulting in the first 9 months of 2021. Total revenue was 1,932.43 million baht and an increase in net assets from operations (net profit) was 1,521.20 million baht while in the 3rd quarter of 2021, total revenue was 689.41 million baht and an increase in net assets from Operation (net profit) is 498.78 million baht.
During August, WHART Trust issued debentures amounting to Bt2,000 million to repay the loan before the contract expires. by issuing 2 tranches of debentures for 5 years and 7 years, 1,000 million baht each. resulting in lower financial costs This reinforces the strong financial potential of WHART Trust. from the aforementioned operating results causing the REIT to pay compensation to the unitholders For the operating results of July 1 – October 31, 2021 at the rate of 0.2553 baht per unit, which is a payment of compensation at a rate that is not less compared to the same period in the previous year.
information: WHA Real Estate Management Company Limited
Illustration: PR WHA Real Estate Management Company Limited
