Distribution Payment Policy

1) Policy on Distribution of Returns
  • CPNREIT unitholder payout is no less than 90% (ninety) of adjusted net profit of the accounting year and is distributed on a semiannual basis at a minimum within 90 (ninety) days from the end of either the accounting year or the base accounting period, as the case may be.

Net profit can be adjusted under the following items:

  1. Repair and maintenance, or improvement (or “property optimization”) under plans specified in the registration statement, prospectus, annual registration statement, annual report, or advance unitholder notification by the REIT manager.
  2. Debt repayment or contingent liabilities from REIT loans under the specified limit, registration statement, prospectus, annual registration statement, annual report, or advance unitholder notification by the REIT manager.
  3. Payouts to prioritized holders of trust units with return on capital or benefit rights, if any. Also, other adjustment of entries made in accordance with the guidelines of the Office of the SEC to be in line with the cash flows status of CPNREIT can be adjusted to the adjusted net profit in addition to those reserved mention in 1., 2. and 3.
  4. Unrealized gain from the valuation or review of valuation of CPNREIT’s assets
  5. Difference of rental income recognized in the income statement and actual rental income under the lease agreement
  6. Difference of realized expenses/fees in the income statement and actual expenses/fees paid under the contract, such as interest paid on loans, etc.
  7. Other items that not correspond to cash status, such as gains from changes in fair value of right-of-use assets (ROU), interest expense from lease liabilities, and actual rental payments under the lease agreement
2) Limitations on Distribution of Returns
  • In the case where CPNREIT has retained earnings in any accounting period, the REIT Manager may make distribution of returns to the trust unitholders from the retained earnings.
  • Unitholders are informed by the REIT manager through the SET communication system when payouts cannot be distributed in the due period.
  • In the case where CPNREIT has incurred accumulated losses, the REIT Manager shall not make any distribution of returns to the trust unitholders.
  • In considering the distribution of returns, in the case where the distribution to be made per trust unit during any accounting year or accounting period is less than or equal to THB 0.10, the REIT Manager reserves the rights not to make such distribution, provided that the distribution shall be carried forward to the following distribution of returns.
  • The REIT Manager will comply with the policy on distribution, with the exception of the case where the SEC, the SEC Office and/or any competent authorities amends, changes, adds, announces, determines, instructs, approves, and/or otherwise grants a waiver, whereby the REIT Manager shall comply with such actions.
  • The REIT Manager shall make distribution of returns to the trust unitholders in accordance with the holding proportion of each trust unitholder. The REIT Manager reserves the right not to make distribution of returns to the trust unitholders whose holding proportion exceeds the limit or not in compliance with the specified criteria in the Notification No. TorJor. 49/2555 only for the portion exceeding the limit or not complying with the criteria. Any returns not distributed shall be distributed to other trust unitholders in accordance with their holding proportion.
  • The REIT Manager shall notify the distribution of returns, the book closing date and the rate of distribution by notifying the trust unitholders whose names are recorded in the trust unitholder register as at the book closing date via the SET information system and notifying the Trustee in writing.
  • Payouts are conducted via money transfer to the unitholder’s account or a crossed-check payable to the unitholder according to information in the trust unitholder registry book.
  • If a Unitholder fails to exercise the right to any return within the period of prescription of claims under the Civil and Commercial Code, the REIT Manager shall not use such returns for any purpose other than that of CPNREIT.

In 2022, the REIT Manager plans to reserve for the repayment of the loans not exceeding THB 150 million and reserve for repairment, maintenance, and renovation not exceeding THB 73 million.