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New Property Fund listed on Stock Exchange of Thailand (SET)

Trinity Property Fund will start trading on The Stock Exchange of Thailand (SET) under the symbol of “TNPF” from March 8, making it the second property fund to be listed on the SET this year.

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Trinity Property Fund will start trading on The Stock Exchange of Thailand (SET) under the symbol of “TNPF” from March 8, making it the second property fund to be listed on the SET this year.

Trinity Property Fund, worth THB710 million (approx. USD23.29 million), will belisted in the Property Fund sector of the Property & Construction industrial group, under the trade symbol of “TNPF”, Mr. Chanitr Charnchainarong, SET Group Head, Issuer & Listing, revealed.

TNPF is a closed-end specific property fund with an unspecified project life. It is a freehold property fund invested in property in major commercial and business areas of Bangkok, with focusing on serviced apartments and shopping malls.

TNPF has appointed Capital Nomura Securities PCL as its underwriter and One Asset Management Limited as its fund manager. TNPF will pay dividends at least once a year, at no less than 90% of its net profits excluding unrealized gains from the auditing of property appraisals or leases during the related accounting period.

TNPF’s top three shareholders after its IPO are Trinity Asset Co., Ltd with 30.01% of total investment units, followed by the Ubonratana Foundation (2.82%) and Ms. Pranee Pha-oenchoke (2.78%).

For more information on TNPF, please see the fund’s prospectus at the Securities and Exchange Commission (SEC)’s website at www.sec.or.th and general information on SET’s website at www.set.or.th

Business

Large Shopping Malls in Bangkok Will Be Closed until July 25th

Shopping malls under the Mall Group, including all branches of The Mall, the Emporium, Emquartier and Paragon Department Store, are also closed for 14 days, from today, except for supermarkets, food courts, pharmacy shops, eateries (take-out and delivery only), banks, mobile phone shops and vaccination sites.

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BANGKOK (NNT) – Large-scale shopping malls in Bangkok and in some dark-red zone provinces are now closed for two weeks, to comply with the latest COVID-19 curbs in 10 provinces.

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Business

Downside risks loom for Thai economy due to Prolonged COVID-19 Outbreak

The most important issue for the Thai economy at present would be the procurement and distribution of appropriate vaccines adequately and timely.

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The Bank of Thailand (BoT) has revealed that Thailand’s economy faces significant downside risks, because a prolonged COVID-19 outbreak could cause the economy to underperform the baseline projection, squeezing business liquidity and slowing employment.

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