News Detail

Date/Time
11 Feb 2019 17:36:00
Headline
Details of Properties and Valuation
Symbol
HPF
Source
HPF
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                Hemaraj Industrial Property and Leasehold Fund
Details of Properties and Valuation

1. Appraiser:         Sallmanns Thailand Co., Ltd.
2. Revaluation Date:        1 October 2018
3. Location:
3.1    WHA Chonburi Industrial Estate 1 ?Moo 6 Bo-Win Sub-District, Sri Racha 
District, Chonburi Province
3.2    Eastern Seaboard Industrial Estate (Rayong)?Moo 4 Pluak Daeng Sub-District, 
Pluak Daeng District, Rayong Province
3.3    WHA Eastern Seaboard Industrial Estate 1?Moo 3 Ta-sit Sub-District, Pluak 
Daeng District, Rayong Province
3.4    WHA Saraburi Industrial Land?Pla Moh Sub-District, Nong Khae District, 
Saraburi Province
4. Details of Properties:
Ready Built Factories;  1. Freehold right in land and 47 factories with an area 
of 144 Rais 3 Ngan 79.1 Sq.Wah  and 2.Leasehold right of land and 57 factories
with an area of 58 Rais 24.5 Sq.Wah.  In total, the Fund has  invested in 104
factories with a total area of  203 Rais 3.6 Sq.Wah as per following details:-
1.    Freehold right in land and 47 factories including;
1.1)       7 factories in WHA Chonburi Industrial Estate 1 with total area of 29 
Rais 2 Ngan 64 Sq.Wah;
1.2)        23 factories in Eastern Seaboard Industrial Estate (Rayong) with total 
area of 92 Rais 3 Ngan 90.1 Sq.Wah and
1.3)     17 factories in WHA Eastern Seaboard Industrial Estate 1 with total 
area of 22 Rais 1 Ngan 25 Sq.Wah
2.    A 30-year leasehold investment in land and 57 factories including:
2.1)    12 factories in WHA Chonburi Industrial Estate 1 with total land of 9 Rais 
2 Ngan 1 Sq.Wah, which lease from SME Factory Co., Ltd.;
2.2)    33 factories in Eastern Seaboard Industrial Estate (Rayong) with total land
of 24 Rais 3 Ngan 56.3 Sq.Wah which lease from Eastern Seaboard Industrial
Estate (Rayong) Co., Ltd.;
2.3)    2 factories in WHA Eastern Seaboard Industrial Estate 1 with total land of 
7 Rais 1 Ngan 78.8 Sq.Wah which lease from WHA Eastern Seaboard Industrial
Estate Co., Ltd.; and
2.4)    10 factories in WHA Saraburi Industrial Land  including ;
(I)        2 factories with total land of 5 Rais 2 Ngan 50 Sq.Wah, which lease from 
SME Factory Co., Ltd.; and
(II)    8 factories with total land of 10 Rais 2 Ngan 38.4 Sq.Wah, which lease from
 WHA Saraburi Industrial Land Co., Ltd.


Appraisal Value (Income Approach):
Details of Asset    Type    Land Area
(rai-ngan-sq.w)    Appraisal Value (Baht)
Freehold            
1. 7 Factories in WHA Chonburi Industrial Estate 1    Ready Build 
Factory    29-2-64    481,500,000
2. 23 Factories in Eastern Seaboard Industrial Estate (Rayong)    Ready Build 
Factory    92-3-90.1    1,970,100,000
3. 17 Factories in WHA Eastern Seaboard Industrial Estate 1    Ready Build 
Factory    22-1-25    766,000,000
Leasehold             
1. 12 Factories in WHA Chonburi Industrial Estate 1    Ready Build 
Factory    9-2-1    232,500,000
2. 33 Factories in Eastern Seaboard Industrial Estate (Rayong)    Ready Build 
Factory    24-3-56.3    642,800,000
3. 2 Factories in WHA Eastern Seaboard Industrial Estate 1    Ready Build 
Factory    7-1-78.8    116,600,000
4. 10 Factories in WHA Saraburi Industrial    Ready Build 
Factory    16-0-88.4    362,900,000

5. Method of Valuation:  Income Approach by using Discounted Cash Flow. Under 
this valuation, the appraiser applied a 10-year discount cash flow for the
freehold and approximately 25-year discount cash flow for the leasehold.
6. Investors may request for more details of the appraisal report at the 
Management Company.
______________________________________________________________________
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