April 16 th, Invitation to the 2015 Annual General Meeting of Unitholders

Transcription

1 April 16 th, 2015 Re: To: Invitation to the 2015 Annual General Meeting of Unitholders Unitholders TICON Freehold and Leasehold Real Estate Investment Trust ( TREIT ) Enclosures: 1. Annual Report of the Year Details of Additional Assets to be Invested 3. Summary of the Appraisal Report of the Appraisal Companies 4. Information Memorandum regarding the Acquisition of Assets of TREIT and the Transaction of TREIT and Connected Persons of the REIT Manager 5. Opinions of the Financial Advisor regarding the Acquisition of Assets of TREIT and the Transaction of TREIT and Connected Persons of the REIT Manager 6. Procedures of Registration, Meeting Attendance and Empowerment of Proxies 7. Proxy Forms 8. Map of the Meeting Venue As TICON Management Company Limited (the Company or the REIT Manager ), the REIT Manager of TICON Freehold and Leasehold Real Estate Investment Trust ( TREIT ), deemed it appropriate to hold the 2015 Annual General Meeting of Unitholders on April 30 th, 2015, at hrs., at Grand Hall, the Bangkok Club, 29 th Floor, Sathorn City Tower, No. 175 South Sathorn Road, Khwaeng Toongmahamek, Khet Sathorn, Bangkok, the Company would like to invite unitholders to attend the meeting as per date, time and place thereof, in order to consideration matters pursuant to the following agenda. Agenda 1 To acknowledge operating results of TREIT ended December 31 st, 2014 Background REIT Manager s Opinion Trustee s Opinion TREIT has its operating results during December 12 th 31 st, 2014, details of which are appeared in the Annual Report of the Year 2014 in the Enclosure No. 1 which is delivered to the unitholders together with this invitation letter. This agenda is for acknowledgement. Therefore, no voting is required. -None- Page 1 of 54

2 Agenda 2 Background REIT Manager s Opinion Trustee s Opinion Agenda 3 Background To acknowledge the report on the audited financial statements of TREIT ended December 31 st, 2014 TREIT has its fiscal year starting from January 1 st December 31 st every year, whereby the first fiscal year started from December 12 th, 2014 which is the date of establishment of TREIT and ended December 31 st, The financial statements of TREIT has been made pursuant to the accounting standard which is generally accepted and approved by the certified accountants, details of which are appeared in the Annual Report of the Year 2014 in the Enclosure No. 1 which is delivered to the unitholders together with this invitation letter. This agenda is for acknowledgement. Therefore, no voting is required. -None- To consider and approve the investment in the additional assets The REIT Manager considered the matter and deemed it appropriate to propose to the unitholders meeting for consideration and approval of the investment in the additional assets by TREIT in order to be in line with the objectives of TREIT and its investment policies that intend to invest in the real properties with the types of land and buildings which are factories, warehouses and/or offices through procurement of ownership, possession or leasehold rights (including sub-leasehold right), and the real properties and assets which are component parts or equipment of the real properties. In this regard, the additional assets to be invested in this time comprise (a) 10 units of land and warehouse buildings, currently owned by TICON Logistics Park Company Limited ( TPARK ) and (b) 2 units of land and factory buildings, currently owned by TICON Industrial Connection Public Company Limited ( TICON ) (the Additional Assets ), details of which are appeared in the table below and additional details are in the Enclosure No. 2 which is delivered to the unitholders together with this invitation letter. TREIT will utilize the proceeds from the loan from Bangkok Bank Public Company Limited as the total source of funds in the amount of not exceeding Baht million which remains from drawdown for the investment in the initial assets of TREIT. Page 2 of 54

3 Table Summarizing Important Information relating to the Additional Assets (A) Additional Assets Categorized Based on Locations Project / Industrial Park / Industrial Estate Number of Buildings (Unit) Approximate Buildings Area (Sq.M.) Approximate Building Age (Year)* Warehouses TICON Logistics Park Bangna 6 9,100 4 TICON Logistics Park Wangnoi 2 4 9,800 1 Factories Rojana Industrial Park 1 1,200 7 Hemaraj Chonburi Industrial Estate 1 3,600 1 Total 12 23, Note * Information as at March 1 st, An approximate age of warehouse and factory buildings is calculated from weighted average of the areas of warehouse and factory buildings in each project / industrial park / industrial estate, respectively. (B) Investment Characteristics of the Additional Assets Type of Assets Warehouse Factory Investment TICON Logistics Rojana Industrial Characteristic of TREIT Park Bangna Park Detail Additional Assets of TICON Logistics Park Wangnoi 2 Land 6 units Leasehold right of the land for a period of 30 years from the date of the registration of the leasehold right of the land and ownership of warehouse buildings 4 units Ownership of both land and warehouse buildings Leasehold Right of Land Approximate total area of land of 12 Rai 68 Sq.W. Ownership of Land Approximate total area of land of 11 Rai 3 Ngan 59 Sq.W. (1) Hemaraj Chonburi Industrial Estate Land 1 unit Ownership of both land and factory building 1 unit Ownership of both land and factory building Ownership of Land Approximate total area of land of 10 Rai 1 Ngan 61 Sq.W. Page 3 of 54

4 Type of Assets Warehouse Factory Buildings Ownership of Warehouse Buildings Ownership of Factory Buildings Buildings 2 Units with an approximate 10 Units with an approximate total area of buildings of 18,900 total building area of 4,800 Sq.M. Sq.M. Value of Assets to be Invested in by TREIT Not exceeding Baht million, or not exceeding 5 percent higher than the lowest appraised value of the total asset made by an appraisal company (2) Notes (1) Land in which TREIT will invest at TICON Logistics Park Wangnoi 2 is under the process for separation of the land title deeds, which is expected to be completed prior to the investment. (2) The lowest appraised value of the total asset equals to Baht million, appraised by Knight Frank Charter (Thailand) Co., Ltd. The REIT Manager has engaged 2 appraisal companies which are Knight Frank Charter (Thailand) Co., Ltd. ( Knight Frank ) and Nexus Property Consultant Co., Ltd. ( Nexus ) (altogether called the Appraisers ), who are in the approval list of the Office of the Securities and Exchange Commission, to evaluate the value of each of the Additional Assets. Details of the appraised value of the Additional Assets which was appraised by the Appraisers appear in the table below and additional details are in the Enclosure No. 3 which is delivered to the unitholders together with this invitation letter. Investment Value in Comparison with Appraised Value pursuant to Income Approach Method Details of the value of the Additional Assets and Information of the appraised value pursuant to the income approach method are as follows: Type of Assets Warehouse Characteristic of Investment Highest Investment Value of Additional Assets (1) (Million Baht) Total Asset Value (2) (Million Baht) Knight Frank Nexus Percentage of Difference between Investment Value and Lowest Appraised Value (3) (Percent) Leasehold right of the land for a period of 30 years from the date of the registration of the leasehold right of the land and ownership of warehouse buildings Ownership of both land and warehouse buildings Factory Ownership of both land and Page 4 of 54

5 Type of Assets Characteristic of Investment factory buildings Total Value of the Additional Assets Highest Investment Value of Additional Assets (1) (Million Baht) Not exceeding Total Asset Value (2) (Million Baht) Knight Frank Nexus Percentage of Difference between Investment Value and Lowest Appraised Value (3) (Percent) Not exceeding 5 (higher than the lowest appraised value) Notes (1) The highest investment value of the Additional Assets will not exceed 5 percent higher than the lowest appraised value of the total asset made by Knight Frank. (2) Appraised value pursuant to the income approach method is as at March 1 st, (3) The highest investment value is calculated on the percentage of the lowest appraised value of the total asset pursuant to the income approach method. Both Appraisers selected to apply the appraised value from the income approach method as the market value of the Additional Assets, whereby the REIT Manager shares the same view as such two Appraisers that the appraised value from the income approach method is an appropriate value and method comparing to the appraised value from the cost approach. In any event, the final value of the Additional Assets to be invested in by TREIT will not exceed 5 percent higher than the lowest appraised value of the total asset made by Knight Frank. However, in the investment in the Additional Assets, TREIT will invest in both the ownership and the leasehold rights from TICON and TPARK, whereby TICON is a major shareholder of the REIT Manager holding approximately 70 percent of the total voting shares in the REIT Manager, and it is also a controlling person of the REIT Manager (whereby Mitsui & Co (Asia Pacific) PTE LTD holds approximately 30 percent of the total voting shares in the REIT Manager). In addition, TICON is also a major shareholder of TPARK. Therefore, TPARK and TICON are considered as connected persons of the REIT Manager. The investment in the Additional Assets shall also be considered as a connected transaction between TREIT and connected persons of the REIT Manager with the value of the investment in the Additional Assets is not less than 3 percent of the net asset value of TREIT which is required a resolution from the unitholders pursuant to the Notification of the Office of the Securities and Exchange Commission No. SorRor. 26/2555 Re: Provisions concerning Lists and Statements in the Trust Deed of the Real Estate Investment Trust, dated November 21 st, 2012 (as amended). Information Memorandum regarding the Acquisition of Assets of TREIT and the Connected Transaction of TREIT and Connected Persons with the REIT Manager appear in the Enclosure No. 4 which is delivered to the unitholders together with this invitation letter. In this regard, the REIT Manager has appointed Baker Tilly Corporate Advisory Services (Thailand) Limited as an independent financial advisor to render opinions and analyze information relating to the transaction for the consideration and voting in respect of the entering into the transaction. Opinions of the Financial Advisor Page 5 of 54

6 regarding the Acquisition of Assets of TREIT and the Transaction of TREIT and Connected Persons of the REIT Manager appear in the Enclosure No. 5 which is delivered to the unitholders together with this invitation letter. The entry into the transaction of TREIT and connected persons of the REIT Manager are required to obtain an affirmative vote from the unitholders meeting with a vote of not less than three-fourths of the total votes of the unitholders attending the meeting and having the rights to vote. In this regard, as at March 30 th, 2015, the unitholder who has special interest in this matter and has no right to vote is TPARK holding 41,000,000 units of TREIT representing 12 percent of the total number of issued units of TREIT. In the event that the unitholders meeting does not approve the entering into the transaction in this Agenda 3, the REIT Manager will not propose the Agenda 4 to the unitholders meeting. REIT Manager s Opinion The REIT Manager considered the matter and deemed it appropriate for TREIT to invest in the Additional Assets. The REIT Manager is of opinion relating to reasonableness of the investment value that the highest investment value of the Additional Assets from TICON and TPARK will not exceed Baht million (higher than the lowest appraised value of the assets made by the Appraisers approximately of Baht million or approximately of not exceeding 5 percent of the lowest appraised value). In this case, the REIT Manager viewed that such highest investment value is an appropriate price and acceptable since returning rate for the year 2015 after the additional investment this time will not be lower than 7.21 percent which is higher than the dividend yield disclosed to the unitholders for the initial investment of TREIT, and the returning rate for the year 2015 will be from the projected net profit derived from the rental fees pursuant to agreements relating to the assets and added back non-cash expenses. In addition, TICON and TPARK as the seller and/or the lessor will be responsible for expenses and registration fees relating to the registration of transfer of ownership and leasehold rights to the Additional Assets. The REIT Manager also viewed that there is an opportunity to enhance the revenue from management of the Additional Assets which has 100 percent of the occupancy rate as at the investment date. (Note: As at April 3 rd, 2015, the Additional Assets of 11 units in total have been provided with the lease and service agreements with the tenants, while there was one unit of the Additional Assets located at TICON Logistics Park Bangna having a tenant that has entered in to a reservation contract for the lease of the property. The REIT Manager expects that TPARK will enter into lease and service agreements with such tenant prior to the investment date.) Page 6 of 54

7 Trustee s Opinion Agenda 4 Background The Assets as proposed by the REIT Manager for consideration of additional investment above have characteristics pursuant to the investment policies and types of assets as specified in the Trust Deed. Furthermore, the Additional Assets have been entirely appraised the value against the title deeds and in accordance with the objectives of public disclosure of the information to the investors for a period of not more than 1 year by two appraisal companies which are in the approval list of the Office of the Securities and Exchange Commission, as well as the invitation letter consists of the opinions of the independent financial advisor that has been appointed by independent directors of the REIT Manager which are in accordance with the Trust Deed and relevant law. However, as the transaction has its value of more than Baht 20 million or 3 percent of the net asset value of TREIT, it is required a resolution of the unitholders meeting with a vote of not less than three-fourths of the total votes of the unitholders attending the meeting and having the rights to vote, whereby the unitholder who has special interest in this translation, i.e. TPARK shall not cast their vote in this agenda. In the case that the acquisition price of the assets is higher than the lowest appraised value which is appraised by the appraisal companies of more than 5 percent, the REIT Manager is required to present facts and rationales of the acquisition at such price. To consider and approve the amendments to the Trust Deed, including the entry and/or the amendments to other agreements relating to the operation of TREIT and the seek for benefits from the real properties in order to be in line with the investment in the additional assets The REIT Manager considered the matter and deemed it appropriate to propose to the unitholders meeting for consideration and approval of the amendments to the Trust Deed, including the entry and/or the amendments to other agreements relating to the operation of TREIT and the seek for benefits from the real properties in order to be in line with the investment in the Additional Assets. This matter shall be obtained an affirmative vote from the unitholders meeting with a majority vote of the total votes of the unitholders attending the meeting and having the rights to vote. In this regard, as at March 30 th, 2015, the unitholder who has Page 7 of 54

8 special interest in this matter and has no right to vote is TPARK holding 41,000,000 units of TREIT representing 12 percent of the total number of issued units of TREIT. Since the Agenda 3 and 4 proposed above are related to the investment in the Additional Asset; therefore, if this Agenda 4 does not obtain an approval from the unitholders meeting, it shall be deemed that the approval of the Agenda 3 shall be disregarded. REIT Manager s Opinion Trustee s Opinion Agenda 5 The REIT Manager considered the matter and deemed it appropriate for TREIT to amend the Trust Deed, including to enter into and/or amend other agreements relating to the operation of TREIT and the seek for benefits from the real properties in order to be in line with the investment in the Additional Assets -None- To consider other matters (if any) The unitholders are cordially invited to attend the meeting at the date, time and place thereof. In this regard, the REIT Manager will start the registration process from 9 hrs. In case a unitholder is unable to attend the meeting yourself, you may wish to authorize a person to attend the meeting and case the vote on your behalf by completing and signing a Proxy Form attached to this invitation letter and duly affixing the stamp duty of Baht 20. In case the unitholders attend the meeting themselves and the proxy holders attend the meeting on the unitholders behalf, please present evidence of your identification for attending the meeting as per the details appeared in the Enclosure No. 6 which is delivered to the unitholders together with this invitation letter, and submit them to the REIT Manager or a designated person by the REIT Manager, prior to attending the meeting. For the unitholders convenience and the prompt registration process, the REIT Manager would like the unitholders to deliver the Proxy Form in advance by sending it to The REIT Manager of TICON Freehold and Leasehold Real Estate Investment Trust at No. 175 Sathorn City Tower, Floor 13/1, Room No. 1308, South Sathorn Road, Khwaeng Toongmahamek, Khet Sathorn, Bangkok 10120, no later than April 27 th, 2015, or at the meeting venue prior to commencement of the meeting. Page 8 of 54

9 Please study the Procedures of Registration, Meeting Attendance and Empowerment of Proxies as per the details appeared in the Enclosure No. 6 which is delivered to the unitholders together with this invitation letter for the unitholders benefit. If any unitholder has any questions or inquiries relating to the proxies, please contact the Investor Relations, TICON Management Company Limited, at Tel Ext. 350, 217 during office hours and business days. Sincerely Yours, TICON Freehold and Leasehold Real Estate Investment Trust by TICON Management Company Limited The REIT Manager (Mr. Amorn Chulaluksunanukul) Managing Director Page 9 of 54

10 Enclosure 2 Details of Additional Assets to be Invested The additional assets to be invested in this time consist of (a) 10 units of land and warehouse buildings having a total building area of approximately 18,900 square meters, currently owned by TICON Logistics Park Company Limited ( TPARK ) and (b) 2 units of land and factories having a total building area of approximately 4,800 square meters, currently owned by TICON Industrial Connection Public Company Limited ( TICON ) (the Additional Assets ). Characteristics of the investment by TREIT are as follows: 1. Leasehold right of land for a period of 30 years from the date of the registration of the leasehold right, having a total area of approximately 12 rai 68 square wah, and ownership of 2 warehouse buildings with 6 units having a total building area of approximately 9,100 square meters. 2. Ownership of land of approximately 11 rai 3 ngan 59 square wah, and ownership of 4 units of a warehouse building having a total building area of approximately 9,800 square meters. 3. Ownership of land of approximately 10 rai 1 ngan 61 square wah, and ownership of 2 units of factory building having a total area of approximately 4,800 square meters. Page 10 of 54

11 No. 1. Details of the Additional Assets can be summarized as follows: Asset Type: Warehouses 1 Project / Industrial Park Warehouse Name Approx. Building Area (Sq.M.) Details of Warehouse Building Land Title Deed No. 1 M2/1 1,600 2 TICON Logistics Park Bangna M2/2 1,600 2 one-storey reinforced 3 (Tambol Bangsamak, Amphor M2/3 1,250 concrete buildings with Bangpakong, Chachoengsao M2/4 1,550 mezzanine with 6 units 5 Province) M2/5 2 1,550 6 M2/6 1,550 1 TICON Logistics Park Wangnoi 2 W1 1/1* 2, , 30009, a one-storey reinforced 2 (Tambol Payom, Amphur Wang W1 1/2* 2, , 30033, concrete building with 3 Noi, Phra Nakhon Si Ayutthaya W1 1/3* 2, and mezzanine with 4 units 4 Province) W1 1/4* 2, Total Area of Warehouse Building 18, Approx. Land Size Approx. Investment Type Building Age Warehouse Rai Ngan Sq.W. Land (Year) Building Leasehold right of 30 years Page 11 of 54 Ownership Ownership Ownership Source TPARK Remarks 1 Warehouse buildings mean warehouse and factory buildings with a purpose for the use for storage of goods or products. 2 The tenant has entered into a reservation for lease the property which it is expected to enter into a lease agreement and a service agreement with TPARK prior to the investment date. 3 On August 15 th, 2008, TICON, the owner of the land for exit ways of the project, has granted registration of servitude for walkway, vehicle way, water supply, electricity supply and all type of the utilities without consideration to the land which is owned by TPARK in which will be invested by TREIT, for a period of 10 years. In this regard, TPARK agrees to cause TICON to expand the period of granting servitude in order to cover the period for which TREIT will invest without consideration.

12 4 Land in which TREIT will invest at TICON Logistics Park Wangnoi 2 is under the process for separation of the land title deeds, which is expected to be completed prior to the investment. TPARK agrees to implement the registration of the servitude of land owned by it to TREIT for exit way and other utilities purposes without consideration. * Properties are under a condition pursuant to the lease agreements that gives the right to the lessee to space transfer to a bigger warehouse size (Option to Swap). Page 12 of 54

13 No. 1 2 Asset Type: Factories Industrial Estate / Industrial Park Hemaraj Chonburi Industrial Estate (Tambol Bowin, Amphur Sriracha, Chonburi Province) Rojana Industrial Park (Tambol U-Thai, Amphur U- Thai, Phra Nakhon Si Ayutthaya Province) Factory Name Approx. Building Area (Sq.M.) L3.2 - D6 3,600 S1/ ,200 Details of Factory Building 1 one-storey reinforced concrete building with mezzanine 1 one-storey reinforced concrete building with mezzanine Land Title Deed No. Approx. Land Size Rai Ngan Sq.M. Total Area of Factory Building 4, Total Area of Warehouse and Factory Buildings 23, Source TICON Remark * Properties are mortgaged with a financial institution. Removal of mortgage will be done prior to transfer of ownership to TREIT. ** Land in which TREIT will invest is connected to public ways. Approx. Building Age (Year) Investment Type Factory Land Building 52785* / ** Ownership Ownership 31576** Ownership Ownership Page 13 of 54

14 2. Characteristics of the Buildings and Constructions to be Additionally Invested in by TREIT 2.1 Exterior Characteristics (1) Warehouse Buildings Warehouse buildings to be invested in by TREIT consist of ready built warehouses for lease locating on important strategic areas for distribution centers. The warehouse buildings can serve new type of logistics management having its building design by considering beam spam, floor load capacity, height of the buildings, loading doors (docks) and dock levelers. Sample of Photos of Warehouse Exterior 1) TICON Logistics Park Bangna 2) TICON Logistics Park Wangnoi 2

15 Sample of Photos of Warehouse Interior (2) Factory Buildings Factory buildings to be invested in by TREIT mainly are one-storey type of buildings with a mezzanine for office usage. The buildings are constructed within fenced premises with a security room, parking space and loading area. The factory buildings to be invested in by TREIT are developed in accordance with standard design but can be modified pursuant to the tenants need. The size of the factory building is approximately 1,200 up to 3,600 square meters and they have loading capacity of 1-3 ton(s) per square meter. The buildings are constructed with roof truss span without support which enable the buildings to have maximum usable area. Sample of Photos of Factory Exterior 1) Hemaraj Chonburi Industrial Estate

16 2) Rojana Industrial Park (3) Additional Details of Leasehold Right of Land to be Invested in by TREIT A part of the assets to be invested in by TREIT is the leasehold right of land of TPARK which is the leasehold right of land on the title deed No at TICON Logistics Park Bangna, Tambol Bangsamak, Amphor Bangpakong, Chachoengsao Province, for a period of 30 years from the date of registration of the leasehold right, having an approximate area of 12 rai 68 square wah. This is locating 2 warehouses with 6 units which are the warehouses No. M2/1, M2/2, M2/3, M2/4, M2/5 and M2/6 having the total warehouse building area of approximately 9,100 square meters. Type of Assets Investment Type by TREIT (Overall) Investment Type by TREIT (Categorized by Project / Industrial Estate / Industrial Park) Summary of Characteristics of the Additional Assets Warehouses (1) Factories (2) 1. Ownership of land and warehouse buildings 2. Leasehold right of land for a period of 30 years from the date of registration of leasehold right, and ownership of warehouse buildings TICON Logistics Park Bangna 6 units TICON Logistics Park Wangnoi 2 4 units leasehold right of land from TPARK of 30 years ownership of land ownership of warehouse buildings ownership of warehouse buildings Ownership of land and factory buildings Rojana Industrial Park Hemaraj Chonburi Industrial Estate 1 unit 1 unit ownershi p of land ownership of factory buildings

17 Type of Assets Details of Assets to be Invested in by TREIT Investment Value Land Buildings Warehouses (1) Factories (2) ownership of land Total area of approximately 11 Rai 3 Ngan 59 Sq.W. leasehold right of land Total area of approximately 12 Rai 0 Ngan 68 Sq.W. ownership of warehouse buildings 3 buildings with 10 units Total building area of approximately 18,900 Sq.M. Total value of the warehouses and factories shall not exceed 5 percent higher than the lowest appraised value of the total asset made by an appraisal company. (3) Land Buildings ownership of land Total area of approximately 10 Rai 1 Ngan 61 Sq.W. ownership of factory buildings 2 buildings Total building area of approximately 4,800 Sq.M. Total value of the warehouses and factories shall not exceed 5 percent higher than the lowest appraised value of the total asset made by an appraisal company. (3) Sources REIT Manager, TPARK and TICON Remarks (1) Warehouse buildings mean warehouse and factory buildings with a purpose for the use for storage of goods or products, which includes component parts of such warehouse and factory building. (2) Including component parts of the factory building (3) The lowest appraised value of the total asset equals to Baht million, appraised by Knight Frank Charter (Thailand) Co., Ltd. 2.2 Age of Warehouse and Factory Buildings Major of the assets to be invested in by TREIT which are warehouse and factory buildings having the age of less than 4 years, details of which are as follows: Building Age Total Area of Warehouse and Factory Percentage of Total Area of Warehouse Buildings (Sq.M.) and Factory Buildings (Percent) Less than 4 years 13, years 10, More than 8 years - - Total 23, Sources TPARK and TICON Remark Information as at March 1 st, 2015

18 2.3 Location Warehouses and factories to be additionally invested in by TREIT are located in 4 places, details of which are as follows: (1) Asset Type: Warehouses Project Developer Location Approximate Distance Travelling from Number of Buildings Source TPARK TICON Logistics Park Bangna TPARK Tambol Bangsamak, Amphor Bangpakong, Chachoengsao Province - Bangkok 30 kilometers - Suvarnabhumi Airport 33 kilometers - Outer Ring Road 30 kilometers - Inland Container Depot 30 kilometers - Leam Chabang Port 58 kilometers - Khlong Luang Express Transport Terminal 79 kilometers - Amata Nakorn Industrial Estate 19 kilometers - Bangplee Industrial Estate 22 kilometers - Bangpu Industrial Estate 52 kilometers - Ladkrabang Industrial Estate 40 kilometers - Wellgrow Industrial Estate 2.3 kilometers 2 warehouses divided into 6 units

19 Project TICON Logistics Park Wangnoi 2 Developer TPARK Location Tambol Payom, Amphur Wang Noi, Phra Nakhon Si Ayutthaya Province Approximate Distance Travelling from - Bangkok 33 kilometers - Suvarnabhumi Airport 66 kilometers - Don Muang Airport 46 kilometers - Outer Ring Road 2.9 kilometers - Inland Container Depot 62 kilometers - Leam Chabang Port 169 kilometers - Khlong Luang Express Transport Terminal 18 kilometers - Bangpa-In Industrial Estate 7 kilometers - Hi-Tech Industrial Estate 19 kilometers - Nava Nakorn Industrial Zone 15.5 kilometers - Rojana Industrial Park 24 kilometers Number of Buildings 1 warehouse divided into 4 units Source TPARK (2) Asset Type: Factories Industrial Park Owner Location Approximate Distance Travelling from Number of Buildings Source TICON Rojana Industrial Park TCON Tambol U-Thai, Amphur U-Thai, Phra Nakhon Si Ayutthaya Province - Bangkok 70 kilometers - Suvarnabhumi 95 kilometers - Bangkok Port (Klongtoey) 75 kilometers 1 factory

20 Industrial Estate Owner Location Approximate Distance Travelling from Number of Buildings Hemaraj Chonburi Industrial Estate TICON Tambol Bowin, Amphur Sriracha, Chonburi Province - Bangkok 136 kilometers - Chonburi 47.6 kilometers - Suvarnabhumi Airport 85 kilometers - Leam Chabang Port 25 kilometers - Map Ta Phut Industrial Port 59.6 kilometers 1 factory