Sign up | Log in



Home  >>   Daily News  >>   Asean News  >> Capital Markets  >>   Thai bourse lists ERWPF property fund on April 4

NEWS UPDATES Asean Affairs   3 April 2013  

April 2, 2013

Thai bourse lists ERWPF property fund on April 4

BANGKOK, April 2, 2013 - The Stock Exchange of Thailand (SET) will list Erawan Hotel Growth Property Fund, managed by SCB Asset Management Co., Ltd, with a size of THB 1,831.44 million (approx. USD 61 million), on its main board on April 4, under the ticker "ERWPF".

“ERWPF is the first property fund listing on the Thai bourse this year. It sold 176.10 million units via initial public offering (IPO) at THB 10.40 per unit, with a total worth of 1,831.44 million, between March 15 and 22," said SET Senior Vice President Paveena Sriphothong.

Jotika Savanananda, SCB Asset Management’s President said: “ERWPF, a closed-end specific property fund, invests in the freehold rights to the land and buildings, including utilities, furniture and equipment of IBIS Hotel Phuket Patong (260 rooms) and IBIS Hotel Pattaya (254 rooms), owned by the Erawan Group plc (ERW) and managed by Accor. The strengths of this property fund are excellent property locations and consecutive growth of revenue performance. In 2012, Ibis Patong had revenue of THB 114.2 million and Ibis Pattaya booked THB 106.3 million.

ERWPF will receive fixed rental fees plus variable fees as indicated in the agreement. Also, during the first four years, the hotels guarantee minimum revenue for the fund of a total THB 111.5 million per year. Returns could be increased as the fund has a clear policy to sell out its assets by auction every five years. We believe the fund will be a good choice for investors, as they will have the opportunity to get returns from Erawan Group’s investment policy.”
ERWPF’s dividend policy is to pay at least once a year, at no less than 90 percent of net profit, excluding unrealized gains from auditing property reappraisals of leases during the related accounting period. The fund's top three unitholders after its IPO are The Erawan Group pcl  (20.00 percent) American International Assurance Co., Ltd. (7.78 percent), and SCB Life Assurance pcl (6.77 percent).

Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
Online Ad Rates

Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below

Today's  Stories    3 April 2013  Subsribe Now !
• Yunnan Province to Further Enhance Cooperation with ASEAN Subcribe: Asean Affairs Global Magazine
• Thai bourse lists ERWPF property fund on April 4 Asean Affairs Premium
• Phuket becomes gateway to India
Research Reports
on Thailand 2007-2008

•Textiles and Garments Industry

•Coffee industry

•Leather and footwear industry

•Shrimp industry

• ASEAN Youth Meet Japan Prime Minister
• U.S. Business Groups Welcome Singapore’s Prime Minister Lee to Washington
• National Library Board and Singapore Exchange team up to promote financial literacy to library users
Asean Analysis             25 March 2013   Advertise Your Brand
• Asean Analysis- March 25, 2013  
• Asean Weekly- March  22, 2013 Sponsor Our Events
Asean Stock Watch      3 April 2013  
• Asean Stock Watch- April 3, 2013  
• Asean Stock Watch- March31, 2013 

ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent
• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore • Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline • Vietnamese PM projects 10-year socioeconomic plan


This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

Our Products | Work with us | Terms of Use | Site Map | Privacy Policy | Refund Policy | Shipping/Delivery Policy | DISCLAIMER |

Version 5.0
Copyright © 2007-2015 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand