LT.F 111/2006
February 22, 2006
Subject Change in performance of more than 20 percent
To The President
The Stock Exchange of Thailand
TICON Industrial Connection Public Company Limited ("the Company")
announced the audited financial statements for the year ended
December 31, 2005 to the Stock Exchange of Thailand ("SET") on
February 22, 2006. The performance of the Company and its Subsidiaries
for the said period as compared with that of the year 2004.
The main items were as follows:
(Unit : Million Baht) 2005 2004 Change (percent)
Sale of properties to tenants 108.65 202.28 - 46.29
Sale of properties to TFUND 1,730.00 -
Rental and service income 591.36 521.72 + 13.35
Net income 680.30 290.99 133.79
Earnings of the Company and its Subsidiaries for the year 2005
increased by Baht 389.31 million, or 133.79 percent from those
of the year 2004. The main reasons are as follows:
1.On April 22, 2005, the Company sold 39 factory buildings to
TICON Property Fund ("TFUND") at the total price of Baht 1,730 Million.
2.The Company's and its Subsidiary's main businesses have grown
continuously which resulted in an increase in Rental and Service
Income in 2005 by 13.35 percent as comparing with 2004.
3.The Company has 2 additional sources of incomes comprising
income from property management for TFUND and share of profit
from investment in TFUND which were Baht 21.3 Million and Baht 25.6 Million
respectively.The said incomes were generated during April 22 to
December 31, 2005.
The Company would like to announce that in addition to the growth
of rental and service income according to the continuous development of
factories/warehouses for rent, the Company has a policy to offer the
factories/warehouses to TFUND periodically so as to be an instrument
for fund raising in the future.
Please be informed accordingly
Yours faithfully,
(Miss Lalitphant Phiriyaphant)
Head of Finance