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Investor Relations

Chairman Message

To Shareholders

The year 2017 was an outstanding year of TICON Industrial Connection Public Company Limited (“TICON”) in achieving its strategic milestone to enhance the Company’s competitiveness whilst preparing for future business expansion. At the same time, the Company has strengthened its business platform and continued to improve process turnaround and efficiency. Total revenue, as a result, was reported at an outstanding of 2,087 million baht with a net profit of 482 million baht in 2017 or a year-on-year increase of 11% and 73% respectively.

During the year, the Company has successfully increased its registered and paid-up capital from 1,099 million baht to 1,834 million baht and raised additional equity totaling 13,230 million baht by issuing new shares to Fraser Property Holdings (Thailand) Co., Ltd., an associate company of Fraser Property Limited (FPL). FPL is a global real estate investment and property management company with expertise in various real estate asset class including factory and warehouse. FPL became the major shareholder of the Company in January 2017. Not only has the Company had a stronger capital structure, it also has sufficient funds to pursue future business expansion. The Company also benefits from being a part of Fraser Property Limited network which provides an access to a world-class knowledge, management expertise as well as new innovation of industrial property. This includes knowledge on customized design and construction that meets specific requirement of the customer or “Built to Suit”, which has proven to be a success in Australia. Together with current expertise of the Company, TICON is now able to offer more varieties of products and services to serve customer under a technology age and meet an ongoing requirement for change in production and warehouse management as a result of digital economy and new government initiatives under Thailand 4.0 policy.

The Company has successfully merged 3 former property funds namely T-FUND, T-LOGIS and T-GROWTH with TICON Freehold and Leasehold Real Estate Investment

“Thailand’s economic growth in 2018, investment and business expansion along Eastern Economic Corridor (EEC) and growth in digital consumption will drive more demand in industrial property especially Built-to-Suit factories and warehouses.”

Trust or TREIT in December 2017. TREIT has become the largest Industrial REIT in Thailand with an asset portfolio of more than 32 billion baht. TICON and its subsidiary holds 22% in TREIT which further solidify the Company’s strategy to form a financial vehicle for fund raising and capital management to support the Company’s long-term expansion. TREIT is a sizeable fund which holds high quality assets and delivers satisfactory investment return. These have attracted attention of both domestic and foreign investors and allow the Company to further monetize its assets for future business expansion. TREIT can borrow up to 60% of total asset value and has a flexibility to acquire assets of TICON as well as third party in order to generate investment return to unit holders.

In 2017, the Company has put an emphasis on employee development and process improvement in order to set a foundation for TICON to be a leading player in industrial property development internationally. The Company also went through a restructuring in order to enhance its capability to be in line with its business direction and future business scope. The Company expects Thailand’s economic growth in 2018, investment and business expansion along Eastern Economic Corridor (EEC) and growth in digital consumption to drive more demand in industrial property especially Builtto- Suit factories and warehouses. The Company strongly believes that the stated growth potentials as well as the Company’s capability will enable TICON to sustainably expand in Thailand and internationally, particularly in CLMV countries.

As for corporate governance, the Company has formed a Corporate Governance Committee to oversee business operations and to ensure that the Company operates fairly to all stakeholders. The Corporate Governance Committee has reviewed and revised policies and Charter of Corporate Governance Committee to be in consistent with present business operation and good corporate governance principle as guided by the Thai Institute of Directors (IOD). On August 18, 2017, the IOD has accepted the Company to be a member of the Private Sector Collective Action Coalition against Corruption (CAC).

Finally, on behalf of TICON’s Board of Directors, I would like to thank our shareholders and business partners as well as TREIT unit holders for their continuous support in TICON and I would like to thank the Company’s directors, management as well as employees for their cooperation and relentless efforts in making 2017 another successful year.

(Mr. Chainoi Puankosoom)
Chairman of the Board