Statement of income
(Unit: Baht in thousand except indicated)
Q2/2025
|
Q1/2025
|
QoQ
|
Q2/2024
|
YoY
|
|
---|---|---|---|---|---|
Rental and services income | 198,028 | 188,571 | 5.0% | 189,091 | 4.7% |
Interest income | 1,697 | 1,785 | -4.9% | 2,148 | -21.0% |
Dividend income | - | - | n.m. | - | n.m. |
Other income | 632 | 3,541 | -82.2% | 3,799 | -83.4% |
Total income | 200,357 | 193,897 | 3.3% | 195,038 | 2.7% |
Costs of rental and services | 52,037 | 36,906 | 41.0% | 41,541 | 25.3% |
REIT Manager's fee | 9,836 | 9,971 | -1.4% | 9,999 | -1.6% |
Trustee's fee | 3,411 | 3,400 | 0.3% | 3,444 | -1.0% |
Registrar's fee | 370 | 369 | 0.3% | 377 | -1.9% |
Property management fee | 8,680 | 8,694 | -0.2% | 8,458 | 2.6% |
Professional fees | 980 | 873 | 12.3% | 2,134 | -54.1% |
Other expenses | 6,302 | 6,480 | -2.7% | 6,506 | -3.1% |
Finance cost | 19,986 | 20,522 | -2.6% | 21,588 | -7.4% |
Income tax expenses | 12,171 | 13,581 | -10.4% | 12,777 | -4.7% |
Total expenses | 113,773 | 100,796 | 12.9% | 106,824 | 6.5% |
Net investment income | 86,584 | 93,101 | -7.0% | 88,214 | -1.8% |
Gains (losses) from changes in fair value of investment in debt securities | -10 | -24 | 58.3% | - | n.m. |
Gains (losses) on revaluation of investments in subsidiaries | 1,395 | -151,820 | 100.9% | 1,459 | -4.4% |
Gains (losses) on revaluation of investments in properties and leasehold rights over properties | - | - | n.m. | - | n.m. |
Increase in net assets from operations | 87,969 | -58,743 | 249.8% | 89,673 | -1.9% |
Statements of financial position
(Unit: Baht in thousand except indicated)
Q2/2025
|
Q1/2025
|
QoQ
|
Q2/2024
|
YoY
|
|
---|---|---|---|---|---|
Investments in debt securities measured at fair value through profit or loss | 112,566 | 106,799 | 5.40% | - | n.m. |
Investments in subsidiaries at fair value through profit or loss | - | - | n.m. | - | n.m. |
Investments in properties and leasehold rights over properties at fair value | 8,417,357 | 8,394,555 | 0.27% | 8,514,515 | -1.1% |
Cash and cash equivalents | 553,986 | 574,115 | -3.51% | 695,287 | -20.3% |
Receivables | 11,470 | 7,647 | 49.99% | 3,918 | 192.8% |
Loan to subsidiary | - | - | n.m. | - | n.m. |
Intangible assets | 47,207 | 46,638 | 1.22% | 53,576 | -11.9% |
Total assets | 9,142,586 | 9,129,754 | 0.14% | 9,267,296 | -1.35% |
Accrued Interest | 13,089 | 5,906 | 121.62% | 15,090 | -13.26% |
Other payables | 235,518 | 235,760 | -0.10% | 260,900 | -9.73% |
Accrued expenses | 996,022 | 994,207 | 0.18% | 988,879 | 0.72% |
Income tax payable | 1,049,402 | 1,049,308 | 0.01% | 1,049,030 | 0.04% |
Unearned income | 274,324 | 272,928 | 0.51% | 284,625 | -3.62% |
Deposit received from customers | 132,642 | 138,363 | -4.13% | 118,074 | 12.34% |
Total liabilities | 2,700,997 | 2,696,472 | 0.17% | 2,716,598 | -0.57% |
Capital from unitholders | 4,548,575 | 4,568,340 | -0.43% | 4,627,634 | -1.71% |
Retained earnings | 1,893,014 | 1,864,942 | 1.51% | 1,927,691 | -1.80% |
Net assets | 6,441,589 | 6,433,282 | 0.13% | 6,555,325 | -1.74% |
Net asset value per unit (Baht) | 11.7654 | 11.7502 | 0.13% | 11.9732 | -1.74% |
Statement of income
(Unit: Baht in thousand except indicated)
Q2/2025
|
Q1/2025
|
QoQ
|
Q2/2024
|
YoY
|
|
---|---|---|---|---|---|
Rental and services income | 72,655 | 66,071 | 10.0% | 73,081 | -0.6% |
Interest income | 2,713 | 2,750 | -1.3% | 2,903 | -6.5% |
Dividend income | 78,000 | 52,000 | 50.0% | 48,000 | 62.5% |
Other income | 530 | 3,075 | -82.8% | 651 | -18.6% |
Total income | 153,898 | 123,896 | 24.2% | 124,635 | 23.5% |
Costs of rental and services | 22,768 | 16,732 | 36.1% | 20,345 | 11.9% |
REIT Manager's fee | 9,836 | 9,971 | -1.4% | 9,999 | -1.6% |
Trustee's fee | 3,411 | 3,400 | 0.3% | 3,444 | -1.0% |
Registrar's fee | 370 | 369 | 0.3% | 377 | -1.9% |
Property management fee | 4,888 | 4,975 | -1.7% | 4,607 | 6.1% |
Professional fees | 359 | 548 | -34.5% | 1,105 | -67.5% |
Other expenses | 782 | 932 | -16.1% | 1,746 | -55.2% |
Finance cost | 19,971 | 20,505 | -2.6% | 21,562 | -7.4% |
Income tax expenses | - | - | n.m. | - | n.m. |
Total expenses | 62,385 | 57,432 | 8.6% | 63,185 | -1.3% |
Net investment income | 91,513 | 66,464 | 37.7% | 61,450 | 48.9% |
Gains (losses) from changes in fair value of investment in debt securities | -10 | -24 | 58.3% | - | n.m. |
Gains (losses) on revaluation of investments in subsidiaries | 22,000 | 18,054 | 21.9% | 22,000 | 0.0% |
Gains (losses) on revaluation of investments in properties and leasehold rights over properties | 1,707 | -124,215 | 101.4% | 1,759 | -3.0% |
Increase in net assets from operations | 115,210 | -39,721 | 390.0% | 85,209 | 35.2% |
Statements of financial position
(Unit: Baht in thousand except indicated)
Q2/2025
|
Q1/2025
|
QoQ
|
Q2/2024
|
YoY
|
|
---|---|---|---|---|---|
Investments in debt securities measured at fair value through profit or loss | 112,566 | 106,799 | 5.4% | - | n.m. |
Investments in subsidiaries at fair value through profit or loss | 6,472,550 | 6,472,550 | 0.0% | 6,476,496 | -0.1% |
Investments in properties and leasehold rights over properties at fair value | 1,841,828 | 1,820,444 | 1.2% | 1,937,522 | -4.9% |
Cash and cash equivalents | 158,004 | 166,431 | -5.1% | 348,171 | -54.6% |
Receivables | 108,077 | 78,765 | 37.2% | 3,918 | 2658.5% |
Loan to subsidiary | 96,378 | 96,378 | 0.0% | 96,378 | 0.0% |
Other assets | 22,777 | 24,686 | -7.7% | 25,331 | -10.1% |
Total assets | 8,812,180 | 8,766,053 | 0.5% | 8,887,816 | -1.4% |
Accrued Interest | 13,089 | 5,906 | 121.6% | 15,090 | -13.26% |
Income tax payable | 81,015 | 81,803 | -1.0% | 86,613 | -6.46% |
Long-term borrowings from financial institutions | 996,022 | 994,207 | 0.2% | 988,879 | 0.72% |
Debentures | 1,049,402 | 1,049,308 | 0.0% | 1,049,030 | 0.04% |
Lease liabilities | 273,046 | 271,339 | 0.6% | 282,119 | -3.22% |
Other liabilities | 46,670 | 46,102 | 1.2% | 37,757 | 23.61% |
Net assets | 2,459,244 | 2,448,665 | 0.4% | 2,459,488 | 0.0% |
Capital from unitholders | 4,548,575 | 4,568,340 | -0.4% | 4,627,634 | -1.7% |
Retained earnings | 1,804,361 | 1,749,048 | 3.2% | 1,800,694 | 0.2% |
Net assets | 6,352,936 | 6,317,388 | 0.6% | 6,428,328 | -1.2% |
Net asset value per unit (Baht) | 11.6035 | 11.5386 | 0.6% | 11.7412 | -1.2% |
Source:
Reference to financial statements Auditor’s Report on Review of Interim Financial Information for Q4/2024, Q3/2024 and Q4/2023