No. REM-BT006/2022 - EN
24 May 2022 | |
To: | President |
Stock Exchange of Thailand | |
Re: | Notification of the Assets Appraisal Value Report of WHA Business Complex Freehold and Leasehold Real |
Estate Investment Trust for Year 2022 |
WHA Real Estate Management Co., Ltd., the REIT Manager would like to notify the appraisal details of the assets of WHA Business Complex Freehold and Leasehold Real Estate Investment Trust as follows:
1. SJ Infinite I Business Complex Project
Name of Appraiser: | Bangkok Property Appraisal Co., Ltd. approved by the Securities and Exchange | ||||
Commission | |||||
Objective: | For public purpose | ||||
Appraisal Criteria: | Market value according to the current lease agreement and Property Manager | ||||
Appointment Agreement | |||||
Appraisal Method: | Income Approach by using Discounted Cash Flow Approach | ||||
Valuation Date: | March 1, 2022 | ||||
Appraisal Value: | Baht 2,271,000,000 | ||||
Assumptions of Appraisal by Using the Income Approach | |||||
Assumption | 2022 | ||||
Bangkok Property Appraisal Co.,Ltd. | |||||
Appraisal Method | Discounted Cash Flow Approach (Income Approach) | ||||
Valuation Period | Freehold | ||||
Growth of Market Rental and Service | Increase 10.00% every 3 years | ||||
Rates | |||||
Discount Rate | 9.00% | ||||
Capitalization Rate | 7.00% | ||||
2. Bangna Business Complex Project
Name of Appraiser: | Bangkok Property Appraisal Co.,Ltd. approved by the Securities and Exchange | ||||
Commission | |||||
Objective: | For public purpose | ||||
Appraisal Criteria: | Market value according to the current lease agreement and Property Manager | ||||
Appointment Agreement | |||||
Appraisal Method: | Income Approach by using Discounted Cash Flow Approach | ||||
Valuation Date: | March 1, 2022 | ||||
Appraisal Value: | Baht 334,000,000 | ||||
Assumptions of Appraisal by Using the Income Approach | |||||
Assumption | 2022 | ||||
Bangkok Property Appraisal Co.,Ltd. | |||||
Appraisal Method | Discounted Cash Flow Approach (Income Approach) | ||||
Valuation Period | Leasehold | ||||
Growth of Market Rental | Increase 10.00% every 3 years | ||||
and Service Rates | |||||
Discount Rate | 10.00% | ||||
Please be informed accordingly.
Yours sincerely,
(Mr. Anuwat Jarukornsakul)
Chief Executive Officer
WHA Real Estate Management Co., Ltd.
REIT Manager