*Distributable Income is calculated from net increase in net assets from operations, excluding net unrealized gain on investments.
Total income for Q4/2018 was 263.7 million baht, increasing 8.4 million baht or 3.3% YoY. The higher total income was mainly from the increasing in rental and service income of 261.8 million baht, 3.5% growth, resulted from an increase in average occupancy rate and average rental rate from shop area and common area. Comparing to Q3/2018, FUTUREPF had rental and service income increased by 1.5%, due mainly from an increase in average occupancy rate.
In Q4/2018, FUTUREPF had total expenses of 54.6 million baht, which decreased by 4.4% YoY. The details are as follows:
Comparing to Q3/2018, the Fund had total expenses decreased by 1.1 million baht or 2.1%. The lower total expenses were mainly from a drop in property management fee due to lower in commission fee for tenant solicitation.
In Q4/2018, FUTUREPF had net investment income of 209.1 million baht, increasing 5.5% YoY and increasing 1.3% QoQ, mainly came from higher total income while the total expense declined.
In Q4/2018, net investment income margin was 79% and distribution income margin was 72%, flat YoY and QoQ. In Q4/2018, FUTUREPF announced a dividend payment of 189.1 million baht, or 0.357 baht per investment unit. It was higher YoY and QoQ.
In FY2018, FUTUREPF had total income of 1,027.3 million baht, comprised of rental and service income of 1,017.1 million baht and interest income and other income of 10.2 million baht. For FY2018 the Fund declined slightly in average occupancy rate while increasing in average rental rate, thus rental and service income was the same level as FY2017.
In FY2018, the fund total expenses were 203.8 million baht, increased slightly by 0.2% from last year. The details are as follows:
In FY2018, FUTUREPF had net investment income of 823.5 million baht, which was similar to last year. The Fund had net unrealized loss from investment of 93.7 million baht, thus net increase in net assets from operations was THB 729.8 mn.
Net investment income margin and distribution income margin of FY2018 were 80% and 72%, respectively. They were the same level as FY2017.
In FY2018, FUTUREPF announced a dividend payment of 742.5 million baht or 1.402 baht per unit which was the same as the previous year.
As of 31 December 2018, FUTUREPF had total assets of 7,239.6 million baht. The major assets consist of the investments in properties of 6,873.0 million baht and the investment in securities and cash at banks of 309.5 million baht.
Total liabilities were 426.1 million baht, mostly from deposits of rental and service. At the end of FY2018, total liabilities decreased from the end of last year because the Fund paid off all the bank loans amounted to 100.0 million baht.
Therefore, FUTUREPF had net asset value of 6,813.4 million baht or 12.8660 baht per unit.