TICON Board agrees to name change, trust rebrand, new trading ticker
TICON Management Co Ltd (TMAN)’s board of director has agreed to change the company’s name to “Frasers Property Industrial REIT Management (Thailand) Co Ltd (FIRM).
It also approved to rebrand “TICON Freehold & Leasehold Real Estate Investment Trust” (TREIT) to “Frasers Property Thailand |Industrial Freehold & Leasehold REIT” and changed its stock market’s trading ticker to “FTREIT”.
The notification has officially been made to the unit-holders at the company’s 2019 annual general meeting. The new brands demonstrate the alignment of subsidiaries under the same brand of Frasers Property Ltd(FPL), Peerapat Srisukont, Managing Director of Frasers Property Industrial REIT Management (Thailand) Co Ltd said.
“After the affiliation to Frasers Property Ltd Group, we expect FTREIT to gain international recognition and aptitude to attract more domestic and international investors. With the company’s expertise and experience as the country’s leading REIT manager, coupled with knowledge assets and affiliation within the Frasers Property Group, we are primed to invest in potential, high-quality properties in the domestic and international markets.
As for 2019 fiscal year, our goal is to increase FTREIT growth by up to Bt5 billion per annum, paving the way for it to become a leading industrial and logistics REIT in Asean,” he said.
