FCL says ‘sawadeeka’ to Thailand for second time

SINGAPORE (Oct 11): Frasers Centrepoint’s plan to acquire a stake in TICON, a Thai developer and owner of industrial properties, is seen as a positive by CIMB lead analyst Lock Mun Yee in a Monday note.

(See also: Frasers Centrepoint to invest $520 mil in Thai developer TICON)

TICON is listed on the SET and has factories and warehouse in 18 industrial estates and 33 logistics locations in strategic hubs and economic clusters throughout Thailand. As of 2QFY16, TICON’s book value and net tangible assets stood at $448 million and $448 million respectively. TICON’s book value and NTA is set to increase to $968 million and $968 million respectively after the transaction.

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