TREIT boosts income 58% for 2016

TICON Management Co Ltd (TMAN), the manager of TICON Freehold and Leasehold Real Estate Investment Trust (TREIT), held an annual general meeting of TREIT’s unit holders on Wednesday.
The company reported that TREIT had total income of Bt655.77 million for 2016; this increased by Bt240.13 million, or 57.77 per cent, from the previous year. Net investment income was Bt397.12 million, which increased by 38.59 per cent from 2016.
The company said it is confident that TREIT “will generate the continually appropriate returns on investment as TMAN’s plan in acquiring more assets from domestic and abroad to TREIT, and also seeking the opportunity to convert of property funds managed by TICON Group”. 
The company added: “Upon completion of the conversion, it is expected that the total asset size of TREIT will reach Bt30 billion, making TREIT one of the most competitive trusts in the region as planned.”