Mr. Virapan Pulges, Chief Executive Officer of TICON Industrial Connection Public Company Limited (TICON), a leader in high quality factories and warehouses in Thailand, reported the 2016 performance for the period ended 31 December, 2016. Revenue totaled 1,872.51 million Baht and net profit came to 278.10 million Baht. The majority of revenue came from rental and related services totaling 1,172.12 million Baht, revenue from management fees totaling 201.12 million Baht and gain on sales of investment units in associates of 103.62 million Baht.
A record year for TICON Group with factory and warehouse spaces for lease increased by 321,888 square meters. TICON's factory leased spaces totaled 107,390 square meters and TPARK's warehouse leased space totaled 214,498 square meters.
He said, "The results of 2016 continued to grow steadily as targeted. Thanks to the domestic market remains very active with rising demand for factory and warehouse space for lease, especially in the second half of 2016 that shown a positive trend driven by the national public investment policy and a significant growth of development initiatives run by foreign investors whose projects have been approved by BOI. Additionally, the warehouses expansion in Indonesia has been growing as planned.
Moreover, the capital increase of Frasers Centrepoint Limited in early of 2017 is the positive factor to strengthen and enhance TICON's financial flexibility for its business expansion coupled with a progressive know-how for further growth of the business and a large customer base with high future demand for warehouses in Thailand and abroad. These enable the company to fully benefit from the business partnership and enhance competitiveness of TICON whose one of the corporate goals is focused on expanding and strengthening business presence in international markets as well.
The current board of directors and management team are now setting the company's vision, policy and direction plan to pave the way to be a leading developer of integrated industrial properties in ASEAN." Virapan concluded.
TICON Group continuously retains its leadership as Thailand's number one developer of factory and warehouse business with a total of 51 projects. Currently TICON Group has a total area under management of more than 2.7 million square meters, including TICON's factory of over 1.15 million square meters, and TPARK's warehouse spaces of over 1.55 million square meters.