Siri Prime Office Property Fund Reports Audited Consolidated and Company Earnings Results for the Year Ended December 31, 2017
February 27, 2018 at 11:53 am
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Siri Prime Office Property Fund reported audited consolidated and company earnings results for the year ended December 31, 2017. For the year, on consolidated basis, the company reported net income of THB 159,246,683 against THB 159,245,715 a year ago. Net Investment Income was THB 103,083,554 against THB 103,436,923 a year ago. Total realised and unrealised gains on investments were THB 49,892,871 against THB 64,008,708 a year ago. Net increase in net assets resulting from operations was THB 152,976,425 against THB 167,445,631 a year ago. Net cash flows from operating activities were THB 98,889,571 against THB 95,958,357 a year ago.
Siri Prime Office Property Fund is a Thailand-based closed-end property fund. The Fund is principally engaged in the rental of immovable properties. The Fund's objective is to raise funds from general investors whereby the proceeds from such fundraising are used to purchase, lease and/or sub-lease immovable properties. The Fund shall also improve, modify, construct and/or develop immovable properties by taking the transfer of a construction permit and/or applying for other permits and/or executing any transactions necessary and advisable for immovable properties, with the aim of generating income and returns to the Fund and its unitholders, and invest in other properties and/or securities and/or seeking interest in any other means as prescribed by securities law and/or other relevant laws. The Fund's objective is to make an initial investment in the Siripinyo Building, which is an office building for rent. SCB Asset Management Company Limited acts as the Company's Fund Manager.