BTSGIF reveals the total passenger traffic of the BTS skytrain in January, down 43.5% as a result of the new wave of COVID-19 admit to dragging the operating results for Q4, 2021 and 64/65, aiming to appraise property values and revise estimates. In accordance with the situation But confident that the recovery service after the outbreak has been resolved and vaccine is distributed.
Pornchalit Ploykrajang, Deputy Managing Director, Head of Real Estate & Infrastructure Investment, BBL Asset Management Company Limited (Bualuang Fund), revealed that the BTS Rail Mass Transit Growth Infrastructure Fund (BTSGIF) reported. The number of passengers in the BTS SkyTrain system (only the main part of Mo Chit Station – On Nut Station and National Stadium Station – Saphan Taksin Station) during the latest coronavirus outbreak (COVID-19) situation in January. 64 The number of passengers was 7.0 million, a 43.5% decrease from the previous month and a 66.5% decrease from the same month last year.
The new coronavirus outbreak has affected the cash flow projections for BTS SkyTrain’s performance in Q4, 2021 and for the year 64/65.
In addition, the remaining period of the right to net income under the concession agreement has decreased, causing BTSGIF to report the asset value as of December 31, 2020 at 50,310 million baht, a decrease of 2,900 million baht from the previous appraisal. And the net asset value per unit trust is 8.8598 baht per unit.
For the financial statements for the year ended March 64 BTSGIF will have the experts re-evaluate the property. To review the operating results forecast from the year 65/66 onwards to reflect the current situation.
If the situation of the new COVID-19 epidemic is moving in a better direction. Especially during the spread of the COVID-19 vaccine. To the wider public, it is expected that the number of passengers in the BTS skytrain system will gradually return again. This is because people still have a need to use the public transportation system that facilitates intra-city connections and to connect with the outer city. Nowadays the network of connections in the inner and outer cities is more extensive. And another important factor that will increase the fund’s income and life. Is an additional investment in the train extension It is the right of the fund to invest in the future when it is appropriate. To increase the potential of the fund to be sustainable
“Bualuang Fund believes that in the long run, a portion of the funds is invested in alternative assets such as infrastructure funds. It is also an asset that has the potential to provide satisfactory returns. As for BTSGIF, the current unit price is much lower than the net asset value. Considered at an attractive level, “said Mr. Pornchalit.
However, the value of infrastructure assets currently invested by the Fund Will decrease with the age of the right to net income under the concession agreement that expires in 72 years.
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