AIM IM In Industri rial l Growth Freehold ld and Le Leasehold ld Real l Estate In Investment Tru rust Opportunity Da Day Q1/ 1/2019 28 May 2019 1
Disclaimer The material contained in this presentation is for information purposes only and does not constitute an offer invitation or recommendation to sell or solicitation of an offer or invitation to purchase or subscribe for units in AIM Industrial Growth Freehold and Leasehold Real Estate Investment Trust (AIMIRT) in any jurisdiction. Neither this presentation nor anything in it shall form the basis of, or be relied upon in any connection with, any contract or commitment. This presentation has been prepared by AIM REIT Management Company Limited as the REIT Manager of AIMIRT. The information in this presentation has not been independently verified. No representation, warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information and opinions in this presentation. None of the REIT Manager or any of its advisers or representatives, shall have any liability for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection with this presentation. This presentation and any other information provided in connection therewith, shall not, either in whole or in part, be reproduced, redistributed, or made available to any other person, save in strict compliance with all applicable law. 2
Content Opportunity Da Day Q1/ 1/2019 Intr In troduction 01 AIMIRT Background & Milestones, Investment Highlights, Unitholders’ Structure Por ortf tfolio Ov Overv rview 02 Asset Profile Op Operational l Hig Highlights 03 Occupancy Rate, Tenant Profile, Lease Expiry Profile Fin Financia ial l Perf erformance 04 Financial Information, Distribution Payment Potential Add dditional l Asse ssets ts In Investm tment 05 Investment Update 3
1 Introduction
AIMIRT Overview Name of Trust (English) AIM Industrial Growth Freehold and Leasehold Real Estate Investment Trust Symbol AIMIRT Establishment 22 December 2017 Listed on SET 9 January 2018 REIT Manager AIM REIT Management Company Limited Trustee SCB Asset Management Company Limited Asset Type /1 Warehouse and Cold Storage Investment Type Freehold 100 % Land Area 85-2-30 rai Leasable Area 61,267 sq.m. Occupancy Rate 100% Note: Info as of March 2019 / 1 For initial asset investment & additional investment in JWD Pacific Project (Expansion Area) on 21 December 2018 5
AIMIRT Structure Trust Unitholders Distribution Investment REIT Manager REIT Leaseback Tenants Management Lease Freehold : JWD Project JWD Project Datasafe Project JWD Pacific Project Pacific Cold Storage Project Fee Rental and Service Fee Appoint Multi-Tenants TIP 7 Project Property Freehold : TIP 7 Project Property Manager Lease Management (for TIP Project) Ngan Somboon Rental and Fee Company Limited Service Fee Monitor and act on behalf Fee of unitholders Trustee 6
AIMIRT Background & Milestone Jan 2017 Dec 2017 Jan 2018 Nov 2018 REIT Manager license AIM Industrial Growth AIMIRT was listed on Extraordinary General was granted by Securities and Freehold and Leasehold the Stock Exchange Meeting No. 1/2018 was Exchange Commission (SEC) on Real Estate Investment of Thailand (SET) held on 29 November 2018 26 January 2017 Trust (AIMIRT) was on 9 January 2018 established on The unitholders approved AIM REIT Management Co., Ltd. 22 December 2017 the investment in the became Thailand’s first additional assets No. 1 independent REIT manager 7
AIMIRT Investment Highlights High-quality assets International-standard cold storage with innovative technology installed to First REIT investing in cold storage increase efficiency and profitability Premium cold storage and warehouse with high standard construction, High-quality assets proven track record, and excellent capability to generate long-term sustainable income Located in Thailand's major logistics hub and distribution center Strategic locations Invest in assets with 100% occupancy rate under reliable lease agreements 100% Occupancy Industry leaders with competitive advantages Reputable tenants More than 90% of lease agreements are at least 3 years or longer Long-term lease on average Managed by independent REIT manager, approved by Transparent management The Securities and Exchange Commission (SEC), Thailand 8
AIMIRT Unitholders Well-balanced proportion of institutional and individual investors Unitholders’ Structure Ra Rank Top op 10 Ma Major Uni nithol olders Uni nits % 1 JWD INFOLOGISTICS PCL 15,500,000 10.00 2 BANGKOK LIFE ASSURANCE PCL 12,006,700 7.75 3 FWD LIFE INSURANCE PCL 10,000,000 6.45 Retail Investors JWD 4 B SENIOR CITIZEN MIXED FUND 8,000,000 5.16 46.52% 10.00% Sponsors 5 CIMB-PRINCIPAL PROPERTY INCOME FUND 6,597,100 4.26 17.46% TIP /1 6 BUALUANG INCOME FUND 4,100,000 2.65 7.46% Institutions & Funds MRS. SOMSRI KRAISAKDAWAT /1 7 3,144,000 2.03 36.02% MRS. PORNTIP PIBULNAKARINTR /1 8 3,100,000 2.00 9 THAI LIFE INSURANCE PCL 3,062,000 1.98 Note:Info as of 4 April 2019 MR. PORNSIN KRAISAKDAWAT /1 10 2,800,000 1.81 / 1 The Kraisakdawat family members (TIP Holding) 9
2 Portfolio Overview
AIMIRT Asset Profile (1) Proj oject Pac acific Co Cold ld St Storage JW JWD Pac acific Da Datasa safe TIP IP 7 7 oject /1 /1 Proj oject Proj Proj oject Proj oject Location Samut Sakhon Chachoengsao Chachoengsao Samut Prakan Property Type Cold Storage Cold Storage Warehouse Warehouse Investment Type Freehold Freehold Freehold Freehold Number of units 2 units 2 units 1 unit 5 units Leasable Area 17,562 sq.m. 12,766 sq.m. 9,288 sq.m. 21,651 sq.m. Lease Arrangement JWD Group Leaseback Multi-Tenants Occupancy Rate 100% 100% 100% 100% Note: Info as of March 2019 / 1 Including additional investment in JWD Pacific Project (Expansion Area) on 21 December 2018 11
AIMIRT Asset Profile (2) Three strategic locations in Samut Sakhon, Chachoengsao, and Samut Prakan 12
AIMIRT Asset Profile (3) Property Typ ype In Investment Typ ype / 1 /1 Freehold 100% Warehouse 5 0 . 50% Cold Storage 49.50% 61,267 sq.m. 30,939 sq.m. 30,328 sq.m. TIP 7 Project Warehouse 35.34% TIP 7 Project Cold Storage 35.34% JWD Project 21,651 sq.m. JWD Project 21,651 sq.m. 49.50% 64.66% 30,328 sq.m. 3 9,616 sq.m. Warehouse JWD Project 15.16% 9,288 sq.m. Note: Info as of March 2019 / 1 Percentage of total leasable area of all projects 13
3 Operational Highlights
100% Occupancy Rate Rental Str Structure Leasable Area & Occupancy Ra Le Rate / 1 100% 100% 100% 100% 100% 70,000 100% 90% 60,000 Multi-Tenants Lease 80% Leasable Area (sq.m.) Occupancy Rate (%) 24.77% 50,000 70% 60% 40,000 50% 30,000 40% 30% 20,000 20% 10,000 58,559 58,559 58,559 61,267 61,267 10% sq.m. sq.m. sq.m. sq.m. sq.m. Leaseback to JWD Group /2 0 0% Q1/2018 Q2/2018 Q3/2018 Q4/2018 Q1/2019 75.23% Leasable Area Occupancy Rate Note: Info as of March 2019 / 1 Percentage of total revenue from all projects’ lease contract / 2 Leaseback to JWD Group to operate cold storage and logistics businesses for 10 years, in which AIMIRT will have an option to renew lease contract of PCS Project and JPAC Project for 2 times of 10 years each 15
Well-Established Tenants Tenants’ Nationality Tenants’ Industry / 1 /1 Singaporean Logistics 2.18% 7.55% Office Equipment Japanese 6.48% (Multi- Tenants) Aviation Parts 16.40% 6.19% 4.55% Thai Thai Air Conditioning (Multi- (Leaseback Tenants) Tenants) System 6.19% 75.23% 75.23% Cold Storage & Logistics Providers (Leaseback Tenants) JWD Cold Storage Customers Note: Info as of March 2019 / 1 Percentage of total revenue from all projects’ lease contract 16
Lease Structure Lease Term Le Le Lease Expiry ry /1 /1 More than 80% of all lease contracts 75.23% will be expired in year 2024 onwards 3 – 6 years 10.74% >= 6 years 81.71% < 3 years 7.55% 13.74% 6.48% 4.55% 0.00% 0.00% 0.00% Y2019 Y2020 Y2021 Y2022 Y2023 Y2024 After Y2024 Note: Info as of March 2019 / 1 Percentage of total revenue from all projects’ lease contract 17
4 Financial Performance
Financial Highlights Tot otal Inc ncome Tot otal As Assets Unit: Million Baht Unit: Million Baht 46.6 44.3 43.6 2,517.1 2,519.7 2,247.3 5.2% QoQ 0.1% QoQ 6.9% YoY 12.1% YoY Q1/2018 Q4/2018 Q1/2019 Q1/2018 Q4/2018 Q1/2019 • Stable net investment income generated from Ne Net Investment Income 100% occupancy rate Unit: Million Baht • Q1/2019 total income increased mainly due to 31.9 31.5 31.2 cold storage acquired in Dec 2018 (100% occupancy rate) 1.0% QoQ • Higher expenses were mostly from operating 1.3% YoY expenses (from scheduled assets maintenance) and finance cost (from new asset acquisition) Q1/2018 Q4/2018 Q1/2019 19 19
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