AIM Industrial Growth Freehold and Leasehold Real Estate Investment Trust

Transcription

1 AIM Industrial Growth Freehold and Leasehold Real Estate Investment Trust Opportunity Day Q2/ August

2 Disclaimer The material contained in this presentation is for information purposes only and does not constitute an offer invitation or recommendation to sell or solicitation of an offer or invitation to purchase or subscribe for units in AIM Industrial Growth Freehold and Leasehold Real Estate Investment Trust (AIMIRT) in any jurisdiction. Neither this presentation nor anything in it shall form the basis of, or be relied upon in any connection with, any contract or commitment. This presentation has been prepared by AIM REIT Management Company Limited as the REIT Manager of AIMIRT. The information in this presentation has not been independently verified. No representation, warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information and opinions in this presentation. None of the REIT Manager or any of its advisers or representatives, shall have any liability for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection with this presentation. This presentation and any other information provided in connection therewith, shall not, either in whole or in part, be reproduced, redistributed, or made available to any other person, save in strict compliance with all applicable law. 2

3 Content 01 Introduction AIMIRT background & milestone, investment highlights, unitholders structure 02 Portfolio Overview AIMIRT structure, asset information 03 Q2/2018 Financial Highlights Financial information, distribution payment 04 Operational Highlights Occupancy rate, tenant profile, lease expiry 3

4 1 Introduction

5 AIMIRT Overview Name of Trust (English) Symbol AIM Industrial Growth Freehold and Leasehold Real Estate Investment Trust AIMIRT Establishment 22 December 2017 Listed on SET 9 January 2018 REIT Manager Trustee Asset Investment /1 AIM REIT Management Company Limited SCB Asset Management Company Limited Investment Type /1 Freehold (ownership) 100% Investments in Properties Value THB 2,140,000,000 Land Area (rai-ngan-sq.w.) Leasable Area Occupancy Rate 100% Note: Info as of June 2018 /1 For initial asset investment Land, cold storage buildings and movable assets related to cold storage, and warehouses 58,559 sq.m. 5

6 Trust Structure Trust Unitholders Distribution Investment REIT Manager REIT Management Freehold : JWD Project Lease Leaseback Tenants JWD Project Fee Pacific Cold Storage Project JWD Pacific Project Datasafe Project Rental and Service Fee Appoint Property Manager (for TIP Project) Property Management Freehold : TIP 7 Project Lease Multi-Tenants TIP 7 Project Ngan Somboon Company Limited Fee Rental and Service Fee Monitor and act on behalf of unitholders Fee Trustee 6

7 AIMIRT Background & Milestone REIT Manager License REIT Manager license was granted by Securities and Exchange Commission (SEC) on 26 January AIM REIT Management Co., Ltd. became Thailand s first independent REIT manager SET Listed AIMIRT was listed on the Stock Exchange of Thailand (SET) on 9 January 2018 Jan 2017 Jan 2018 Dec 2017 Establishment AIM Industrial Growth Freehold and Leasehold Real Estate Investment Trust ( AIMIRT ) was established on 22 December

8 AIMIRT Investment Highlights Thailand s first REIT investing in cold storage Premium cold storage and warehouse with high standard construction, excellent capability to generate long-term sustainable income High-quality assets International-standard cold storage with innovative technology installed to increase efficiency and profitability Freehold 100% Invest in freehold right of assets for initial asset investment Long-term lease agreement on average More than 90% of lease agreements are at least 3 years or longer Strategic locations Located in Thailand's major logistics hub and distribution center Transparent & unbiased management Managed by independent REIT manager, approved by The Securities and Exchange Commission (SEC), Thailand Occupancy rate 100% Invest in assets with 100% occupancy rate under reliable lease agreements Well-established tenants Industry leaders with competitive advantages Note: Info as of June

9 AIMIRT Unitholders Rank Top 10 Major Unitholders Units % 1 JWD INFOLOGISTICS PLC 15,500, Unitholders Structure 2 BANGKOK LIFE ASSURANCE PLC 11,000, FWD LIFE INSURANCE PLC 10,000, THAI LIFE INSURANCE PLC 10,000, JWD & TIP Holding 17.25% 5 B SENIOR CITIZEN MIXED FUND 8,000, CIMB-PRINCIPAL PROPERTY INCOME FUND 6,597, Retail Investors 45.05% 7 BUALUANG INCOME FUND 4,100, MRS. PORNTIP PIBULNAKARINTR 3,100, Institution & Funds 37.70% 9 MRS. SOMSRI KRAISAKDAWAT 3,030, MR. PORNSIN KRAISAKDAWAT 2,800, Note: Info as of May

10 2 Portfolio Overview

11 Summary of Asset Information Project Pacific Cold Storage Project JWD Pacific Project Datasafe Project TIP 7 Project Location Samut Sakhon Chachoengsao Chachoengsao Samut Prakan Property Type Cold Storage Cold Storage Warehouse Warehouse Investment Type Freehold Freehold Freehold Freehold Number of units 2 units 1 unit 1 unit 5 units Leasable Area 17,562 sq.m. 10,058 sq.m. 9,288 sq.m. 21,651 sq.m. Lease Arrangement Leaseback to JWD Group Leaseback to JWD Group Leaseback to JWD Group Multi-Tenants Occupancy Rate 100% 100% 100% 100% Note: Info as of June

12 Strategic Locations 12

13 Diversified Property Type Property Type / 1 Investment Type /1 Warehouse 52.83% 30,939 sq.m. Freehold 100% 58,559 sq.m. Warehouse TIP 7 Project 36.97% 21,651 sq.m. Warehouse JWD Project 15.86% Cold Storage JWD Project 47.17% 27,620 sq.m. TIP 7 Project 36.97% 21,651 sq.m. JWD Project 63.03% 36,908 sq.m. 9,288 sq.m. Note: Info as of June 2018 /1 Percentage of total leasable area of all projects 13

14 3 Q2/2018 Financial Highlights

15 Financial Highlights Key Financial Highlights Q2/2018 Total Revenue THB 43.9 million Net Investment Income THB 31.2 million Total Assets THB 2,250.3 million Borrowing THB million Net Assets THB 1,584.5 million NAV THB per unit Number of Trust Units 155,000,000 units Revenue & Net Investment Income Q1/2018 Q2/2018 Total Revenue Net Investment Income 15

16 Distribution Payment Distribution Payment Q2/2018 Distribution Per Unit (DPU) Operation Period 1 April - 30 June 2018 Dividend Type Cash Dividend Distribution Per Unit THB / XD 23 August 2018 Record Date 24 August 2018 Payment Date 5 September Dec 2017 & Q1/2018 Q2/2018 Distribution Payment Policy 90% minimum payout of distributable income Note: /1 Total distribution of THB per unit, of which are from operating result of Q1/2018 (from 1 Jan 2018 to 31 Mar 2018) at the rate of THB per unit and from operating result from 22 Dec 2017 (date of incorporation) to 31 Dec 2017 at the rate of THB per unit. 16

17 4 Operational Highlights

18 Occupancy Rate 100% Rental Structure / 1 Leasable Area & Occupancy Rate 100% 100% 100% Multi-Tenants Lease 26.98% 58,559 sq.m. 58,559 sq.m. 58,559 sq.m. Leaseback to JWD Group / % Q4/2017 Q1/2018 Q2/2018 Area Occupancy Note: Info as of June 2018 /1 Percentage of total revenue from all projects lease contract /2 Leaseback to JWD Group to operate cold storage and logistics businesses for 10 years, in which AIMIRT will have an option to renew lease contract of PCS Project and JPAC Project for 2 times of 10 years each 18

19 Well-Established Tenants Tenants Nationality / 1 Tenants Industry /1 Japanese (Multi-Tenants) 17.25% JWD s Cold Storage Customers Logistics 7.94% 6.82% Office Equipment Thai (Multi-Tenants) 9.73% 7.44% Aviation Parts Thai (Leaseback Tenants) 73.02% Note: Info as of June 2018 /1 Percentage of total revenue from all projects lease contract 73.02% 4.78% Air Conditioning System Cold Storage & Logistics Providers (Leaseback Tenants) 19

20 Lease Structure Lease Term /1 Lease Expiry /1 3 6 years 12.22% < 3 years 7.94% >= 6 years 79.84% More than 79% of all lease contracts will be expired in year 2024 onwards 73.02% 15.38% 0.00% 4.78% 0.00% 0.00% 0.00% 6.82% Note: Info as of June 2018 /1 Percentage of total revenue from all projects lease contract Y2018 Y2019 Y2020 Y2021 Y2022 Y2023 Y2024 After Y

21 AIM REIT Management Company Limited SCB Asset Management Company Limited 62 The Millennia Tower Unit 1601, 16 th Floor Soi Langsuan, Lumpini, Pathumwan, Bangkok 7-8 th Floor. SCB Park Plaza1 18 Ratchadapisek Road, Chatuchak, Bangkok REIT Manager Trustee