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Statement of income

(Unit: Baht in thousand except indicated)
 
Q1/2023
Q4/2022
QoQ
Q1/2022
YoY
Rental and services income 72,090 69,612 4% 72,068 0%
Interest income 2,061 2,042 1% 1,882 10%
Dividend income 55,000 52,000 6% 52,000 6%
Other income 499 363 37% 274 82%
Total income 129,650 124,018 5% 126,224 3%
Costs of rental and services 21,565 25,639 -16% 18,164 19%
REIT Manager's fee 10,223 10,218 0% 10,316 -1%
Trustee's fee 3,487 6,803 -49% 3,500 0%
Registrar's fee 381 392 -3% 374 2%
Property management fee 4,716 4,373 8% 4,443 6%
Professional fees 1,656 1,827 -9% 407 307%
Other expenses 850 799 6% 793 7%
Finance cost 18,263 14,738 24% 14,386 27%
Income tax expenses  -   -  -  -  -
Total expenses 61,141 64,788 -6% 52,383 17%
Net investment income 68,509 59,229 16% 73,841 -7%
Gains (losses) on revaluation of investments in subsidiaries 191,652 22,000 771% (44,399) -532%
Gains (losses) on revaluation of investments in properties and leasehold rights over properties (137,201) (14,130) 871% 28,852 -576%
Increase in net assets from operations 122,960 67,099 83% 58,294 111%


Statements of financial position

(Unit: Baht in thousand except indicated)
 
Q1/2023
Q4/2022
QoQ
Q1/2022
YoY
Investments in subsidiaries at fair value through profit or loss 6,541,012 6,371,360 3% 6,371,360 3%
Investments in properties and leasehold rights over properties at fair value 2,107,127 2,244,328 -6% 2,254,691 -7%
Cash and cash equivalents 269,952 299,193 -10% 292,740 -8%
Receivables 84,487 79,066 7% 77,155 10%
Loan to subsidiary 96,378 96,378 0% 96,378 0%
Intangible assets 85 91 -7% 109 -22%
Prepaid expenses 6,490 4,753 37% 6,122 6%
Other assets 19,809 17,863 11% 18,484 7%
Total assets 9,125,340 9,113,033 0% 9,117,039 0%
Accrued Interest 5,966 23,031 -74% 10,190 -41%
Other payables 6,423 10,796 -41% 10,649 -40%
Accrued expenses 20,661 20,470 1% 17,516 18%
Income tax payable - - - - -
Unearned income 2,345 2,358 -1% 2,129 10%
Deposit received from customers 85,858 86,692 -1% 90,727 -5%
Long-term borrowings from financial institutions 980,413 - - - -
Debentures 1,048,577 2,048,456 -49% 2,047,573 -49%
Lease liabilities 289,127 287,328 1% 297,691 -3%
Deferred tax liabilities - - - - -
Other liabilities 4,588 4,305 7% 6,369 -28%
Total liabilities 2,443,958 2,483,437 -2% 2,482,844 -2%
Net assets 6,681,382 6,629,596 1% 6,634,195 1%
Capital from unitholders 4,719,176 4,739,434 0% 4,800,206 -2%
Retained earnings 1,962,206 1,890,163 4% 1,833,989 7%
Net assets 6,681,382 6,629,596 1% 6,634,195 1%
Net asset value per unit (Baht) 12.2034 12.1088 1% 12.1172 1%

Statement of income

(Unit: Baht in thousand except indicated)
 
Q1/2023
Q4/2022
QoQ
Q1/2022
YoY
Rental and services income 199,545 193,054 3% 192,984 3%
Interest income 482 562 -14% 168 187%
Dividend income - - - - -
Other income 665 544 22% 499 33%
Total income 200,692 194,160 3% 193,651 4%
Costs of rental and services 44,265 52,077 -15% 35,248 26%
REIT Manager's fee 10,223 10,218 0% 10,316 -1%
Trustee's fee 3,487 6,803 -49% 3,500 0%
Registrar's fee 381 392 -3% 374 2%
Property management fee 8,258 7,948 4% 7,751 7%
Professional fees 2,526 2,866 -12% 1,451 74%
Other expenses 4,967 4,506 10% 4,506 10%
Finance cost 18,263 14,738 24% 14,386 27%
Income tax expenses 14,569 13,673 7% 14,413 1%
Total expenses 106,939 113,221 -6% 91,945 16%
Net investment income 93,753 80,938 16% 101,706 -8%
Gains (losses) on revaluation of investments in subsidiaries - - - - -
Gains (losses) on revaluation of investments in properties and leasehold rights over properties 32,451 (14,130) 871% (37,547) -186%
Increase in net assets from operations 126,204 66,808 89% 64,159 97%

Statements of financial position

(Unit: Baht in thousand except indicated)
 
Q1/2023
Q4/2022
QoQ
Q1/2022
YoY
Investments in subsidiaries at fair value through profit or loss - - - - -
Investments in properties and leasehold rights over properties at fair value 8,744,517 8,712,066 0% 8,722,429 0%
Cash and cash equivalents 692,999 710,153 -2% 711,630 -3%
Receivables 9,120 7,287 25% 5,224 75%
Loan to subsidiary - - - - -
Intangible assets 23,884 24,769 -4% 27,475 -13%
Prepaid expenses 7,604 6,351 20% 7,298 4%
Other assets 28,962 27,273 6% 26,842 8%
Total assets 9,507,086 9,487,899 0% 9,500,898 0%
Accrued Interest 5,966 23,031 -74% 10,190 -41%
Other payables 13,806 19,661 -30% 18,444 -25%
Accrued expenses 30,993 30,084 3% 24,541 26%
Income tax payable 28,976 18,491 57% 30,404 -5%
Unearned income 44,616 42,138 6% 47,492 -6%
Deposit received from customers 244,143 253,319 -4% 254,381 -4%
Long-term borrowings from financial institutions 980,413 - - - -
Debentures 1,048,577 2,048,456 -49% 2,047,573 -49%
Lease liabilities 289,127 287,328 1% 297,691 -3%
Deferred tax liabilities 1,272 1,415 -10% 897 42%
Other liabilities 12,864 12,672 2% 13,592 -5%
Total liabilities 2,700,753 2,736,596 -1% 2,745,205 -2%
Net assets 6,806,333 6,751,303 1% 6,755,693 1%
Capital from unitholders 4,719,176 4,739,434 0% 4,800,206 -2%
Retained earnings 2,087,157 2,011,870 4% 1,955,487 7%
Net assets 6,806,333 6,751,304 1% 6,755,693 1%
Net asset value per unit (Baht) 12.4316 12.3311 1% 12.3391 1%

Source:
Reference to Report and consolidated interim financial statements and Independent Auditor’s Report on Review of Interim Financial Information for Q1/2022, Q4/2022 and Q1/2023