Financial Highlights

Financial Highlight


Statement of Financial Position as of 31 December 2018

(Unit: Baht)

Item 2018 % 2017 %
Assets
Investments in properties and leasehold rights at fair value (at cost: Baht 4,792,951,897) 4,676,200,000 94.33 4,716,900,000 94.95
Investments in security at fair value (at cost: Baht 200,000,000 and 31 December 2017: Baht 151,632,053) 201,191,090 4.06 153,399,331 3.09
Cash at banks 68,666,428 1.38 78,801,103 1.59
Accounts receivable
From rental 590,850 0.01 1,068,715 0.02
From interest 18,269 0.00 34,708 0.00
Other account receivable 49,113 0.00 13,496 0.00
Deferred expenses 9,851,603 0.20 16,623,455 0.33
Other assets 872,811 0.02 1,155,785 0.02
Total assets 4,957,440,164 100.00 4,967,996,593 100.00
Liabilities
Trade payable and accrued expense 19,400,605 0.39 19,267,847 0.39
Deposits from rental 136,482,487 2.75 127,527,382 2.57
Rental revenue received in advance 1,123,676 0.02 1,439,753 0.03
Long-term loans 1,200,000,000 24.21 1,200,000,000 24.15
Total liabilities 1,357,006,768 27.37 1,348,234,982 27.14
Net assets
Fund registered 357,890,000 units of Baht 9.83 each 3,518,058,700 70.97 3,518,058,700 70.81
Capital from unitholders 357,890,000 units of Baht 9.83 each 3,518,058,700 70.97 3,518,058,700 70.81
Retained earnings 82,374,696 1.66 101,702,911 2.05
Net assets 3,600,433,396 72.63 3,619,761,611 72.86
Total liabilities and unitholders' equity 4,957,440,164 100.00 4,967,996,593 100.00
Net assets value at the end of year/period 10.0601 10.1141

Income Statement for the year ended 31 December 2018

(Unit: Baht)

Item 2018 % 2017 %
Investment income
Rental income 367,982,082 94.87 354,605,188 87.92
Revenue from property manager 17,934,834 4.63 38,259,923 9.49
Interest income 623,887 0.16 855,177 0.21
Other income 1,328,092 0.34 9,603,977 2.38
Total income 387,868,895 100.00 403,324,265 100.00
Expenses
REIT management fee 11,665,780 3.01 11,628,990 2.88
Trustee and custodian fee 14,988,842 3.86 14,962,677 3.71
Registrar fee 1,582,801 0.41 1,630,223 0.40
Property management fee 10,453,043 2.69 6,618,541 1.64
Professional fees 2,100,896 0.54 1,649,649 0.41
Amortisation of deferred expenses 6,771,852 1.75 6,771,852 1.68
Interest expenses 45,934,038 11.84 46,322,192 11.49
Other expenses 13,721,664 3.54 16,581,329 4.11
Total expenses 107,218,916 27.64 106,165,453 26.32
Net investment income 280,649,979 72.36 297,158,812 73.68
Net realised gains on investments in securities 787,350 0.20 714,774 0.18
Net unrealised losses on investments (39,508,910) (10.19) (6,814,190) (1.69)
Net increase in net assets resulting from operations 241,928,419 62.37 291,059,396 72.17

Statement of cash flows for the year ended 31 December 2018

(Unit: Baht)

Description 2018 2017
Net cash used in operating activities 296,581,904 341,362,577
Net cash from financing activities (306,716,579) (332,996,882)
Net increase in cash at banks (10,134,675) 8,365,695
Cash at banks at the beginning of year 78,801,103 70,435,408
Cash at banks at the end of year 68,666,428 78,801,103


Significant Financial Ratio

(Unit: Baht)

Financial Ratio 2018 2017 2016
Net assets at the end of year/period (Baht) 3,600,433,396 3,619,761,611 3,616,803,645
Average net assets during the year/period(Baht) 3,633,285,796 3,621,768,282 3,666,149,994
Ratio of net investment income to total income (%) 72.36 73.68 76.25
Ratio of total expenses to average net assets during the year/period (%) 2.95 2.93 2.67
Ratio of total investment income to average net assets during the year/period (%) 10.68 11.14 11.24
Ratio of liabilities to average net assets during the year/period (%) 37.35 37.23 36.98
Ratio of weighted average investment purchases and sales during the year/period to average net assets during the year/ period (%) * 0.40 0.17 0.13

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