Sansiri Prime Office Property Fund or “SIRIP” has been converted into Siriphinyo Real Estate Investment Trust or “SIRIPRT” to enhance liquidity and increase growth opportunities. Trading will start on November 6, 2024.
This conversion will involve the transfer of assets and liabilities of SIRIP Property Fund through the exchange of SIRIPRT trust units with SIRIP investment units at a ratio of 1:1, with TSTE REIT Management Co., Ltd. as the trust manager and SCB Asset Management Co., Ltd. as the trustee. Trading on the Stock Exchange of Thailand will begin on November 6, 2024.
Siriphinyo Real Estate Investment Trust SIRIPRT invests in the main asset, which is the Siriphinyo office building for rent. The project’s location is conveniently connected to major roads. The asset value under management is 1,849 million baht, consisting of office space for rent, retail space and common area. There is a rental area of over 18,000 square meters with complete facilities.
Mr. Chanachai Chutimavoraphan, Chairman of TSTE REIT Management Co., Ltd., said that the conversion from Sansiri Prime Office Property Fund or “SIRIP” to Siriphinyo Real Estate Investment Trust or “SIRIPRT” this time will not only help enhance liquidity and increase growth opportunities, but also make asset management efficient. We can invest in a variety of assets, which helps spread risks and increase income opportunities and can create better returns for investors in the long term. SIRIPRT is ready to continue and create continuous growth by looking for opportunities to add new project assets (New Projects Investment) to the portfolio regularly to expand the investment scope of the SIRIPRT trust and increase growth opportunities, including increasing opportunities to create returns for unitholders.
Mr. Chanachai Chutimavoraphan also added that with the management by experts and direct experience in managing trusts of TSTE REIT Management Co., Ltd., it will focus on making the trust grow according to the target, resulting in outstandingly high rental rates and stable and continuous growth in performance. It provides a high dividend yield, is a low-risk asset with consistent returns, and can help reduce or diversify risks for investors.
With efficient management and foresight, SIRIPRT is ready to step into the future with confidence and is committed to creating high and sustainable returns for unitholders.
