Ticon Management Company (TMAN), the Real Estate Investment Trust (REIT) manager of TREIT, has plans to rebrand TICON Freehold & Leasehold Real Estate Investment Trust (TREIT) as Frasers Property Thailand Industrial Freehold & Leasehold REIT.
The company said in a press release issued on Thursday that it will also rebrand TICON Management Company Limited (TMAN) to Frasers Property Industrial REIT Management (Thailand) Company Limited.
The new brands will align their identities with the rebranding of TICON Industrial Connection Public Company Limited (TICON) as part of TICON’s move to fully affiliate itself and subsidiaries with Frasers Property Limited (FPL).
The company said it is confident that this change will strengthen the performance and establish this REIT at an international level.
Peerapat Srisukont, Managing Director of TMAN, said: “At our board of directors’ meeting on December 12, 2018, we passed a resolution to change TREIT’s name to Frasers Property Thailand Industrial Freehold & Leasehold REIT and change TMAN’s name to Frasers Property Industrial REIT Management (Thailand) Company Limited.
“These affiliation with Frasers Property Limited, a multi-national company with well-established footprint globally to enhancing international credibility of our REIT, this will increase its potential growth and investment capabilities both in Thailand and overseas, in support of future expansion of Frasers Property Limited in Southeast Asia.
“The change of REIT name will be officially valid after an approval at our board of directors on December 12, 2018.
“As the REIT manager, we will keep our REIT management performance strong while leveraging the international expertise of Frasers Property Limited to strengthen our REIT management performance further and platform to become leading industrial REIT in Asian and leading status as the largest industrial REIT in Thailand, ready to rise as a leading industrial REIT in Southeast Asia,” Peerapat said.