Small losses for TFUND
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BBL Asset Management Co Ltd, the manager of Ticon Property Fund (TFUND) and TPark Logistics Property Fund (TLOGIS), is convinced that it should take two months to revive the funds' damaged properties.
Of total, 99 rental factories with combined space of 243,300 square metre or 50 per cent of TFUND's properties are damaged. This affects 51 per cent of the fund's monthly revenue.
In a statement, the fund manager said the repair will take only two months thanks to uncomplicated building structure, and the cost should be fully covered by insurance.
TLOGIS's 5 warehouses are damaged, covering combined space of 34,106 square metre or 27 per cent of total. This affects 38 per cent of the fund's revenue, but it is covered by the all risks insurance.
