Performance Highlights
ALLY successfully expanded the scope of the investment policy beyond retail assets into commercial assets such as office buildings, markets, and warehouses –with the goal to diversify revenue stream and risk as well as increase the growth opportunities by extending the asset universe.
Balance Sheet
Total asset Value (MB.)
Cash & Equivalents (MB.)
Net asset Value (MB.)
NAV (Baht/ Unit)
Debt /TAV (Times)
On 31 December 2021, the net asset of ALLY REIT is THB 13,094 million increasing by THB 844 million or 7% from the net asset of year 2020 as follows:
- Investment in immoveable leasehold under fair value of THB 12,162 million is equivalent to 7% growth rate from that of the previous year as aresult of the additional investment in the Kad Farang Village Project and the Crystal Chaiyapruek Project.
- Accrued rent and service income of THB 248 million increasesby 25.6% compared to that of the year 2020 as aresult of debtor's delay in payment totaling THB 102.3 million and the debts arising in connection with the straight-line methods of THB 56.1 million.
- On 31 December 2021, the net liability of ALLY REIT is THB 4,701 million increasing by THB 828 million or 21% from the net liability of year 2020. The main factoris the long-term loan agreement relevant to the additional investment in the Kad Farang Village Project and the Crystal Chaiyapruek Project which contributes to the increase in the long-term loan amount by24% compared to that of the year 2020.
Net asset as of 31 December 2021 equals to THB 8,393 million which is the net asset of THB 9.6024 per unit increasing from THB 9,5843 per unit as at the 2020 year-end.
Income Statement
Total revenue (MB.)
Net investment income (MB.)
Distribution income (MB.)
Distribution per unit (Baht)
- In 2021, ALLY REIT has net income of THB 1,127.9 million which decreases by 0.4% in comparison with the net income of year 2020 as aresult of the ongoing COVID-19 pandemic situation including the rent reductionfrom the government policy, contributing to the decrease in rent and service income by 2% compared to that of the previous year.
- In 2021, the net profit of the ALLY REIT is THB 384.3 million which decreases by 2.0% compared to that of year 2020 as a result ofthe decrease in net income of -0.4% while the expense increases by 7.0% compared to that of the previous year.
| unit : 000’THB except indicated | 3Q21 | 4Q20 | 4Q21 |
|---|---|---|---|
| Assets | |||
| Investment in leasehold properties at fair value | 11,763,691 | 11,349,243 | 12,161,749 |
| Investments measured at fair value through profit or loss | 0 | 59,995 | 0 |
| Cash and cash equivalents | 417,251 | 515,349 | 543,896 |
| Receivables on accrued rental and service income | 252,365 | 197,735 | 248,424 |
| Receivables on accrued other income | 125 | 0 | 9,179 |
| Receivables on accrued interest income | 137 | 9 | 9 |
| Deferred expenses | 66,751 | 82,433 | 61,466 |
| Refundable value added tax | 5,780 | 0 | 5,359 |
| Refundable deposits | 32,476 | 31,738 | 34,101 |
| Other assets | 4,791 | 14,371 | 30,311 |
| Total Assets | 12,543,366 | 12,250,874 | 13,094,495 |
| Liabilities | |||
| Trade accounts payable | 8,017 | 30,909 | 43,681 |
| Other payables and accrued expenses | 91,592 | 99,402 | 109,693 |
| Rental and service income received in advance | 4,779 | 7,384 | 6,672 |
| Deposits from rental and services | 392,764 | 387,057 | 411,289 |
| Long-term borrowings | 3,151,727 | 2,760,897 | 3,431,785 |
| Lease liabilities | 551,101 | 539,192 | 674,443 |
| Other liabilities | 36,137 | 48,385 | 23,445 |
| Total Liabilities | 4,236,117 | 3,873,225 | 4,701,009 |
| Net Asset Value | 8,307,249 | 8,377,649 | 8,393,486 |
| Capital from unitholders | 8,565,830 | 8,644,499 | 8,565,830 |
| Discount on trust units | (317,465) | (317,465) | (317,465) |
| Retained earnings/Profit for the period | 58,884 | 50,615 | 145,121 |
| Net Asset | 8,307,249 | 8,377,649 | 8,393,486 |
| Net Asset Value per Unit (Baht) | 9.5037 | 9.5843 | 9.6024 |
| unit : 000’THB except indicated | 3Q21 | 4Q20 | 4Q21 |
|---|---|---|---|
| Income | |||
| Rental and Service income | 167,306 | 315,817 | 310,078 |
| Interest income | 130 | 134 | 128 |
| Other income | 3,617 | (32,092)(1) | 17,776 |
| Total Income | 171,053 | 283,858 | 327,983 |
| Expense | |||
| Management fees | 12,334 | 12,229 | 12,492 |
| Trustee fees | 3,193 | 3,171 | 3,233 |
| Registrar fees | 575 | 588 | 298 |
| Property management fees | 13,897 | 25,882 | 26,084 |
| Professional fees | 583 | 427 | 609 |
| Amortization of deferred expenses | 5,285 | 5,285 | 5,285 |
| Costs of rental and services | 72,478 | 55,346 | 114,232 |
| Administrative expenses | 4,932 | 8,108 | 16,997 |
| Finance costs | 38,802 | 33,688 | 37,318 |
| Total expenses | 152,078 | 144,723 | 216,549 |
| Net profit on investments | 18,975 | 139,135 | 111,434 |
| Total net loss on investments | (23,688) | 7,799 | (25,197) |
| Net increase in net assets resulting from operations | (4,713) | 131,336 | 86,237 |