Financial Highlights

Financial Highlight


Statement of Financial Position as of 31December 2017

(Unit: Baht)

Item 2017 % 2016 %
Assets
Investments in properties and leasehold rights at fair value (at cost: Baht 4,792,951,897) 4,716,900,000 94.95 4,725,000,000 95.02
Investments in security at fair value (at cost 31 December 2016 : Baht 150,000,000) 153,399,331 3.09 151,398,746 3.04
Cash at banks 78,801,103 1.59 70,435,408 1.42
Accounts receivable
From rental 1,068,715 0.02 512,782 0.01
From interest 34,708 0.00 27,644 0.00
Other account receivable 13,496 0.00 483,816 0.01
Deferred expenses 16,623,455 0.33 23,395,308 0.47
Other assets 1,155,785 0.02 507,986 0.01
Total assets 4,967,996,593 100.00 4,972,700,533 100.00
Liabilities
Trade payable and accrued expense 19,267,847 0.39 20,182,885 0.41
Deposits from rental 127,527,382 2.57 133,600,205 2.69
Rental revenue received in advance 1,439,753 0.03 2,113,798 0.04
Long-term loans 1,200,000,000 24.15 1,200,000,000 24.13
Total liabilities 1,348,234,982 27.14 1,355,896,888 27.27
Net assets
Fund registered 357,890,000 units of Baht 9.83 each (2016: Baht 10.00 each) 3,518,058,700 70.81 3,578,900,000 71.97
Capital from unitholders 357,890,000 units of Baht 9.83 each (2016: Baht 10.00 each) 3,518,058,700 70.81 3,578,900,000 71.97
Retained earnings 101,702,911 2.05 37,903,645 0.76
Net assets 3,619,761,611 72.86 3,616,803,645 72.73
Total liabilities and unitholders' equity 4,967,996,593 100.00 4,972,700,533 100.00
Net assets value at the end of year/period 10.1141 10.1059

Income Statement for the year ended 31 December 2017

(Unit: Baht)

Item 2017 % 2016 %
Investment income
Rental income 354,605,188 87.92 357,489,612 86.79
Revenue from property manager 38,259,923 9.49 53,271,385 12.93
Interest income 855,177 0.21 1,007,257 0.25
Other income 9,603,977 2.38 137,198 0.03
Total income 403,324,265 100.00 411,905,452 100.00
Expenses
REIT management fee 11,628,990 2.88 11,771,492 2.86
Trustee and custodian fee 14,962,677 3.71 15,076,198 3.66
Registrar fee 1,630,223 0.40 1,623,873 0.39
Property management fee 6,618,541 1.64 3,628,297 0.88
Professional fees 1,649,649 0.41 1,526,109 0.37
Amortisation of deferred expenses 6,771,852 1.68 6,790,405 1.65
Interest expenses 46,322,192 11.49 47,947,866 11.64
Other expenses 16,581,329 4.11 9,475,825 2.30
Total expenses 106,165,453 26.32 97,840,065 23.75
Net investment income 297,158,812 73.68 314,065,387 76.25
Net realised gains on investments in securities 714,774 0.18 - -
Net unrealised losses on investments (6,814,190) (1.69) (62,693,254) (15.22)
Total realised and unrealised losses on investments (6,099,416) (1.51) (62,693,254) (15.22)
Net increase in net assets resulting from operations 291,059,396 72.17 251,372,133 61.03

Statement of cash flows for the year ended 31 December 2017

(Unit: Baht)

Description 2017 2016
Net cash used in operating activities 341,362,577 231,130,320
Net cash from financing activities (332,996,882) (336,472,405)
Net increase in cash at banks 8,365,695 (105,342,085)
Cash at banks at the beginning of year 70,435,408 175,777,493
Cash at banks at the end of year 78,801,103 70,435,408


Significant Financial Ratio

(Unit: Baht)

Financial Ratio 2017 2016 2015
Net assets at the end of year/period (Baht) 3,619,761,611 3,616,803,645 3,657,111,862
Average net assets during the year/period(Baht) 3,621,768,282 3,666,149,994 3,643,350,852
Ratio of net investment income to total income (%) 73.68 76.25 76.42
Ratio of total expenses to average net assets during the year/period (%) 2.93 2.67 1.36
Ratio of total investment income to average net assets during the year/period (%) 11.14 11.24 5.78
Ratio of liabilities to average net assets during the year/period (%) 37.23 36.98 36.77
Ratio of weighted average investment purchases and sales during the year/period to average net assets during the year/ period (%) * 0.17 0.13 131.55

* Investment purchases and sales exclude cash at banks and are calculated by a weighted average basis over the accounting year/period.