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All TRUEGIF units snapped up by investors

The True Telecommunications Growth Infrastructure Fund (TRUEGIF) has announced a successful subscription of all of its investment units worth Bt58.08 billion, despite the uncertain global investment climate and recent domestic political developments.

The subscription of TRUEGIF was met with interest from retail and institutional investors both in and outside of Thailand, as anticipated due to the fund's strong investment attributes.

The initial public offering is the fourth-largest in Asia-Pacific this year. It is Thailand's first telecommunication infrastructure fund, giving investors a stable return and an opportunity to benefit from the fund's potential future growth.

Retail investors are also eligible for a 10-year tax exemption on dividends.

SupachaiChearavanont, president and chief executive officer of True Corp, yesterday said: "This marks an important milestone for the Thai telecommunications industry in realising the concept of infrastructure-sharing, which has been utilised around the world and has long been advocated by the National Broadcasting and Telecommunications Commission.

Fifth necessity

"As telecommunications is now the fifth necessity in our lives, TRUEGIF is confident about targeting investors by offering stable and long-term returns, with the potential to grow further as the telecommunications industry expands."

Jotika Savanananda, president of SCB Asset Management (SCBAM), said the management company believed TRUEGIF would provide investors with an opportunity to receive stable and consistent returns in the long run.

The fund is also a good investment alternative to diversify risks, she said, adding that SCBAM will make an effort to distribute dividends to unit-holders every quarter. TRUEGIF owns or has the right to receive revenues generated from strategic assets such as a fibre-optic grid that acts as a nationwide superhighway for voice, video and data transmissions at the speed of light.

In addition, the fund owns last-mile cables in upcountry regions that allow high-speed Internet and CATV (community access television) access to homes.

Ultimately, TRUEGIF will own 12,000 telecom towers nationwide, transmitting mobile signals covering more than 97 per cent of the population. Fibre-optic cables and telecom towers have a life span of more than 40-50 years, making TRUEGIF an interesting option for investors looking for recurring returns in the long term.


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