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Thai bourse lists property fund CPTGF on December 16

BANGKOK, December 13, 2013 – The Stock Exchange of Thailand (SET) will list C.P. Tower Growth Leasehold Property Fund, managed by Krung Thai Asset Management Public Co., Ltd., with market capitalization at IPO of THB 9.82 billion (approx. USD 305 million), on its main board on December 16, under the ticker symbol "CPTGF."

Paveena Sriphothong, SET senior vice president, said, “CPTGF is the sixth property fund to list on the SET this year. The fund comprises of 967 million units and was sold during November 18-26 at THB 10.15 per unit—totaling to THB 9.82 billion.”

Somchai Boonnamsiri, Krung Thai Asset Management president, said, "CPTGF, a closed-end property fund that invests in the leasehold rights to land, property, office buildings, shopping centers, as well as ownership of other equipment necessary for the utilization of the supposed assets—which belonged to C.P. Land. CPTGF’s main assets are located in prime metropolitan locations, C.P. Tower I (Silom), C.P. Tower II (Fortune Town), and C.P. Tower III (Phayathai). The three buildings have an average occupancy rate of 98 percent. The highlighted feature of this fund is a mixture of office buildings and shopping centers in different downtown locations. This feature has allowed risk diversification in itself, and also offers considerable accessibility. Another boon is the management expertise in which is managed by C.P. Land (with more than 20 years of property management experience to spare). We believe that CPTGF will offer attractive and steady returns to investors.”     

CPTGF has a maturity of 30 years since its first investment date. Its dividend policy is to pay not exceeding 4 times a year, at no less than 90 percent of adjusted net profit of each financial year. The fund's top three unit holders after the IPO are C.P. Land pcl (33.33 percent), Krung Thai Bank pcl (21.59 percent), and the Social Security Office (8.15 percent).

For more information, please see CPTGF property fund's prospectus at Krung Thai asset management company’s website at, the Securities and Exchange Commission's website at, and general information on SET's website at


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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






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