Don Muang Tollway PCL (SET:DMT), an experienced transportation infrastructure management company and an operator of the Uttraphimuk Elevated Toll Road or Don Muang Tollway, will begin its trading on the Stock Exchange of Thailand (SET) on May 7, 2021. With expertise in managing a toll road business for over 30 years, the company is looking for new investment opportunities and aiming to become a leader in developing and managing transportation infrastructure projects in Thailand, creating sustainable growth and ensure steady returns for its shareholders in the long term.
Mr. Tarnin Phanichewa, Managing Director of Don Muang Tollway, reports that the company will begin trading its shares on the Stock Exchange of Thailand (SET) on May 7, 2021, under the Transportation and Logistics sector with the symbol of DMT.
DMT has been well preparing on business expansion plans to take advantage of public-private partnership opportunities, allowing private sectors to participate in infrastructure development projects with the government. Leveraging on its strengths and having more than 30 years of experience in managing Don Muang Tollway, the company is in a good position to participate in the 20-year Intercity Motorway Development Master Plan envisioned by the Department of Highways. Besides, the company is interested in non-toll businesses such as highway rest area projects.
Part of the fundraising proceeds will be used for the debt repayment in order to be a debt-free company, reducing the financial burden and strengthening the company’s financial position. The business expansion plans together with its strong financial position will boost sustainable growth and ensure good returns for shareholders in the long run.
“I would like to thank you all investors for trusting in DMT. We are determined to become a leading player in the development and management of transportation infrastructures in Thailand. With our over 30-year experience and expertise in the business, we believe that we will play an important role in improving Thailand’s competitiveness by creating high-quality transportation infrastructures and transportation network, and at the same time we also believe that DMT will be able to achieve stable growth and decent rate of returns to our shareholders,” Mr. Tarnin says.
Mr. Varah Sucharitakul, Executive Director of Finansa Securities Limited, as the sole lead underwriter, says DMT’s IPO received a very warm welcome from investors. IPO fundraising proceeds will definitely strengthen the company’s financial status and enable DMT to be a debt-free company. With DMT’s dividend policy having a payout ratio of not less than 90% of net profit after the capital reserve as required by law, we believe that the investors will receive stable and attractive returns.
On top of that, investors will benefit from the public-private partnership opportunities allowing DMT to selectively participate and invest in various projects under the 20-year Intercity Motorway Development Master Plan under the responsibility of the Department of Highways, he adds.
Mr. Worawas Wassanont, Managing Director of Avantgarde Capital Co., Ltd., as the financial advisor, says DMT’s stock will be in the spotlight from the investors because of its strong business fundamentals and its expertise in transportation infrastructures. By utilizing modern technologies on the traffic management, the operation of the Don Muang Tollway has become more efficient as well as be ready for the 24 hours to ensure prompt services to the Tollway users and for the increasing number of Tollway users which are expected to be the normal level after the end of COVID-19 pandemic.
DMT is also leveraging on its knowledge and experience to expand its businesses, enhancing decent returns to all shareholders, he says.
For more information, please contact:
Tasanun Chuiklom (Noo), E: tasanun.c@tollway.co.th, Don Muang Tollway PCL
Pipop Khongwong (Top), E: pipop.k@mtmultimedia.com, MT Multimedia Co., Ltd.
Tag: Bangkok
AIM Commercial Growth REIT (SET:AIMCG) Trades Opening Day
– Expected to provide excellent returns, driven by outstanding performance from its great lifestyle mall properties
AIM Commercial Growth Leasehold Real Estate Investment Trust (SET:AIMCG), debuted on the Stock Exchange of Thailand today, 12 July. It is expected to provide superior long-term returns, given the excellent quality of its three initial investment assets, lifestyle malls with high occupancy rates. Its first-year distribution payment is estimated at 8%.
Mr Amorn Chulaluksananukul, Chief Executive Officer of AIM Group, the Settlor and Manager of AIM Commercial Growth (AIMCG), reacting to AIMCG’s units being floated on the SET today, expressed his confidence that the great quality of the three lifestyle malls will produce superior returns.
AIMCG’s initial assets valued up to THB 2.88 billion in total, include commercial leasehold interests in UD Town (Udon Thani), Porto Chino (outbound lane of Rama 2 Road in Samutsakorn) and 72 Courtyard (Thonglor / Soi Sukhumvit 55), each of lifestyle malls with great potential and unique characteristics.
Mr Charasrit A. Voravudhi, Managing Director of AIM Group, stated that each of the said three properties offers sheer quality, unique concepts and location advantages in Bangkok or in an economically important city. He highlighted UD Town’s position as the Udon Thani’s largest lifestyle mall and prominent landmark, as well as the project’s location in the city’s core business district and immense popularity among the locals in Udon Thani, neighbouring provinces, and Lao tourists. Developed and managed by Udon Plaza Co, a highly experienced property developer and manager who is equipped with deep insights into customer behavior, UD Town posted approximately 97% in average occupancy rate over the past three years and welcomed 20,000-50,000 visitors per day.
Developed and managed by D-Land Properties Co and built with ‘Neighborhood Mall’ concept, Porto Chino is Samut Sakorn’s first and largest lifestyle mall. It is located on the outbound lane of Rama 2 Road, as a rest area popular among westbound and southbound travelers as well as a food oasis where leading brands of products are available for purchase. The Food Port area is going to be renovated and local well-known restaurants will be added to serve neighboring residences and locals. Its average occupancy rate stood at approximately 84% for the past three years, and it has been visited by 4,000-10,000 persons per day.
The 72 Courtyard project is developed by Membership Co and situated in the heart of Thonglor / Soi Sukhumvit 55, a prime area frequented by high-end customers. It offers a unique mix of restaurants and bars that are open day and night. The average occupancy rate reached 100% over the past three years, and its visitors totaled 300-1,500 per day, said Mr Charasrit.
Mr Sittichai Mahaguna, Head of Investment Banking Group of Bank of Ayudhya PCL, as Financial Advisor, commented that real estate investment trust (or REIT) is a great investment choice for investors who seek to achieve better diversification through investment in assets that produce stable returns at higher rates compared to bank deposits. He noted AIMCG’s policy to distribute at least 90% of its adjusted net income for each financial year, and that the first-year’s distribution rate is estimated at 8% (according to the pro forma financial information reviewed by auditor and prepared based on AIMCG’s assumptions for the 12-month period of 1 July 2019 to 30 June 2020, and based on unit price of THB 10 each). He believed that AIMCG, managed by AIM Group, a firm with direct experience in REIT management, can make decent, stable distribution payments long term.
Mr Udomkarn Udomsab, Managing Director of Krungsri Securities PCL, as Lead Underwriter, added that AIMCG’s initial assets are the leasehold interests in the said three lifestyle malls with invested area of approximately 45,000 SQM; 33,000 SQM and 5,000 SQM, respectively, with the lease term of about 21 years, 30 years and 13 years for UD Town, Porto Chino and 72 Courtyard, respectively. He stated that the REIT Manager will appoint Udon Plaza Co, D-Land Properties Co and Chetchot Co as property managers, given their relevant experience and expertise and insights into customer behaviour as well as their ownership interests in, and management control over, the respective malls.
Distributed by MT Multimedia Co Ltd for AIM Group:
Pipop (‘Top’) Kongwong
Mobile: +66 8 1929 8864
E-mail: pipop.k@mtmultimedia.com
Thiyaporn (‘Dah’) Sriadunphan
Mobile: +66 8 7556 6974
E-mail: thiyaporn.s@mtmultimedia.com