2021 for the year Report of BTS Rail Mass Transit Growth Infrastructure Fund (BTSGIF)
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
Report of BTS Rail Mass Transit Growth Infrastructure Fund (BTSGIF) for the year 2021 to Unitholders in lieu of convening the Annual General Meeting of Unitholders for the year 2021
Report of BTS Rail Mass Transit Growth Infrastructure Fund (BTSGIF)
for the year 2021
1
No. 1276/2021 7 July 2021
Re Report of BTS Rail Mass Transit Growth Infrastructure Fund (BTSGIF) for the year 2021 to Unitholders
in lieu of convening the Annual General Meeting of Unitholders for the year 2021
To The Unitholders of BTS Rail Mass Transit Growth Infrastructure Fund (BTSGIF)
Attachment 1. 2020/21 annual report in QR Code format
2. The criteria for submitting questions and inquiries in relation to the report of BTS Rail Mass
Transit Growth Infrastructure Fund (BTSGIF) for the year 2021 to Unitholders in lieu of Convening
the Annual General Meeting of the Unitholders for the year 2021 and related supporting
documents
BBL Asset Management Company Limited (the “Management Company”) as the Management
Company of BTS Rail Mass Transit Growth Infrastructure Fund (BTSGIF) (the “Fund”) notified the Unitholders
that the Management Company has deemed it appropriate to deliver the report, related supporting documents
and the annual report of the Fund for the year 2020/21 in QR Code format to the Unitholders for acknowledgement
by registered mail in lieu of convening the Annual General Meeting of Unitholders for the year 2021 of the Fund
to the Unitholders whose name appeared on the Unitholders registration book of the Fund on 30 June 2021.
The details were in accordance with the information published by the Management Company through the digital
platform of the Stock Exchange of Thailand on 16 June 2021 re: The delivery of the Report to the Unitholders
in lieu of convening the Annual General Meeting for the year 2021 of BTS Rail Mass Transit Growth Infrastructure
Fund (BTSGIF).
In this regard, the Management Company would like to deliver the Report of the Fund for the year 2021
in lieu of convening the Annual General Meeting of Unitholders for the year 2021 (the “Report”) along with its
related supporting documents to report to the Unitholders for acknowledgment, detailed as follows:
Item 1 To acknowledge the Fund’s significant management and the management guideline in the future
The Management Company hereby informs the Unitholders to acknowledge the Fund’s significant
management for the year 2020/21 and the management guideline in the future which are presented in
the annual report for the year 2020/21 as Attachment 1. The basic information of the Fund is as follows:2 Report of BTS Rail Mass Transit Growth Infrastructure Fund (BTSGIF)
for the year 2021
1.1 The Information of the Fund
General Information
Fund Name BTS Rail Mass Transit Growth Infrastructure Fund
Security Symbol BTSGIF
Fund Type Infrastructure Fund
Number of Investment Units 5,788mn units
Fund Capital • Registration date: THB 62,510.40mn
• After the 11st Capital Return: THB 55,813.68mn
Par Value per Unit • Registration date: THB 10.80
• After the 11st Capital Return: THB 9.643
Management Company BBL Asset Management Company Limited
Sponsor BTS Group Holdings Public Company Limited (“BTSG”) and
Bangkok Mass Transit System Public Company Limited (“BTSC”)
Fund Supervisor Standard Chartered Bank (Thai) Public Company Limited
Lock-up Agreement BTSG agrees to hold the investment units in the Fund at 33% of
the total units for 10 years.
Detail of Asset Invested by the Fund
Details of Asset Net farebox revenues to be generated from the operation of the Core
BTS SkyTrain System covering 23.5 kilometres, consisting of the
17-kilometre Sukhumvit line from Mo Chit to On Nut stations, and the
6.5-kilometre Silom line from National Stadium to Saphan Taksin stations
pursuant to the Concession Agreement. (The Concession will expire on
4 December 2029)
Net farebox revenues mean all farebox revenues less costs, expenses,
taxes, and capital expenditures relevant to operation and maintenance
of the Core BTS SkyTrain System.
Type of Asset Right to receive benefits from future revenue from Rail Mass Transit
Infrastructure Project
Operator Bangkok Mass Transit System Public Company Limited
Date of Investment 17 April 2013
Period for Seeking Benefits From 17 April 2013 to 4 December 2029
Investment Cost THB 61,724.00mn (including investment in Saint Louis station of
As at 31 March 2021 THB 325.00mn)
Latest Appraisal Value THB 44,790.00mn (appraised on 12 May 2020, and updated on 12 May 2021)
As at 31 March 2021 by C.I.T. Appraisal Co., Ltd., using the income approachReport of BTS Rail Mass Transit Growth Infrastructure Fund (BTSGIF)
for the year 2021
3
1.2 Significant Changes and Developments
1 April 2020 BTSC announced the ending of promotional fares for stored-value card to be
THB 16 – 44 (equaling to current effective fare).
5 June 2020 BTSC opened the Northern Green Line extension from Kasetsart University to
Wat Phra Sri Mahathat.
16 December 2020 BTSC opened the Northern Green Line extension from Wat Phra Sri Mahathat
to Khu Khot.
8 February 2021 BTSC opened the new station, Saint Louis station.
1.3 The Fund’s Significant Management and the Management Guideline in the Future
• Operating Strategies
1. Growth in Initial Asset: the opportunities lie in the increase in ridership and fare adjustment.
2. Growth strategy for investment in other Infrastructure Assets: the Fund has the Right of First
Refusal and Right to Purchase Revenues from BTSC and/or BTSG group.
• Supervision of the Asset Manager’s Operation
The Management Company oversees and monitors the operations of BTSC. Each year
the Management Company shall consider the budget for O&M expenses and the annual Net
Revenue Target from the reports submitted to the Fund by BTSC. The Management Company will
consider whether the income and expenses are in accordance with the planned budgets and
whether the actual farebox revenue and expenses are accurate and appropriate.
For the revenue collection, the Management Company shall conduct reviews on the internal control
of the farebox revenue collection and conduct random reviews on the income recognition of BTSC
and arrange for a meeting with BTSC in order to seek solutions for the problems.
Moreover, the Management Company also takes part in some operations of BTSC by taking
the directorship in the Board of Directors of BTSC at the number of 1/3 of the total directors.
• Factors or Occurrences Which may Have Impact in the Future
1. Capital Expenditure
BTSC plans for total capital expenditure of the Fund for FY 2021/22 of THB 90.28mn which is
split into (1) rolling stock and relevant equipment of THB 2.04mn, (2) machinery & equipment of
THB 42.26mn, (3) spare parts of THB 35.12mn and (4) office equipment & furniture of THB 10.86mn.
The majority of machinery & equipment CAPEX are the station improvement and maintenance
of THB 16.99mn, traction substation improvement of THB 13.50mn and Automatic Fare
Collection (AFC) system upgrade and relevant equipment of THB 11.76mn.4 Report of BTS Rail Mass Transit Growth Infrastructure Fund (BTSGIF)
for the year 2021
In addition, in FY 2021/22, the Fund plans for investment in Saphan Taksin station of THB 60.00mn
which will be recorded as investment in NRTA.
2. Maintenance Agreement
On 15 September 2014, BTSC signed a 15-year maintenance agreement with Siemens from
1 January 2015 until 4 December 2029 (concession expiry date). BTSC has commitments in
respect to the cost of maintenance and spares supply service fee in relation to the project (both
core and extension line phase 1; Saphan Taksin - Bang Wa and Onnut - Bearing) (including
future train overhaul) for the whole period. The cost and fee for each year shall be based on the
first year fee and subject to price escalation each year based on annual consumer price index
each year. The first year fee was THB 253mn and EUR 3mn and also shall be allocated to the fund
in accordance with the appropriate criteria and assumptions. On 23 May 2016, BTSC signed
the additional maintenance agreement for new rolling stocks which started from the mobilization
period in July 2018 until the end of the 16th year of the full maintenance service. The full
maintenance service fee has been collected since November 2019. The annual fee prescribed
at THB 72.52mn and EUR 1.27mn and subject to price escalation each year based on annual
consumer price index each year. The fee shall be allocated to the Fund in accordance with
the appropriate criteria and assumptions.
3. Order of the Head of the National Council for Peace and Order
The Order of the Head of the National Council for Peace and Order (“NCPO”) No. 3/2562
Re: Operation of the Green Line Project dated 11 April 2019 (“NCPO Order No. 3/2562”)
can be summarized as follows:
• The NCPO Order No. 3/2562 has the purpose of integrating the operations of the Green
Line Project – Core Line (Mo Chit – On Nut and National Stadium – Saphan Taksin),
the Green Line Project – Extension 1 (Saphan Taksin – Bang Wa and On Nut – Bearing) and
the Green Line Project – Extension 2 (Bearing – Samut Prakan, and Mo Chit – Saphan Mai
– Khu Khot) into one network (Through Operation) in order to facilitate the passengers’ travel
as well as to set a fair and reasonable fare structure with a view to alleviate the financial
burden of the public.
• The NCPO Order No. 3/2562 provides that the Ministry of Interior appoint a committee to
establish a framework and negotiate with BTSC (concessionaire) with respect to benefit
sharing as well as other relevant criteria for the purposes of integrating the Green Line
Project – Core Line, the Green Line Project - Extension 1 and the Green Line Project -
Extension 2. The negotiation shall be completed within 30 days from the date of the order
appointing the committee after which the amendment of the Concession Contract for
the Green Line Project – Core Line shall be completed within 30 days (such period has
already been extended).Report of BTS Rail Mass Transit Growth Infrastructure Fund (BTSGIF)
for the year 2021
5
• Currently, it is in the process of submission of the draft Public-Private Partnership Agreement
(PPPA) to the Cabinet for approval. If the Cabinet passes an approval, this may cause
changes in the effective fare structure which collects from the passengers. In this regard,
the Management Company will seek the resolution from the Unitholders and will provide
further details.
The Opinion of the Management Company
The Management Company deems it appropriate to report the Unitholders to acknowledge
the Fund’s significant management and the management guideline in the future.
The Opinion of the Fund Supervisor
The Fund Supervisor deems it appropriate to report the Unitholders to acknowledge the Fund’s
significant management and the management guideline in the future.
Item 2 To acknowledge the financial statements and the performance of the Fund for the year
2020/21
2.1 Financial Statements of the Fund
The Management Company prepared the financial statement for the year 2020/21 from 1 April 2020
to 31 March 2021 which has been audited and certified by the auditor as shown in the annual report for
the year 2020/21 as Attachment 1, the summary of which is as follows:
Unit: THB mn
Statement FY 2020/21 FY 2019/20
Balance Sheet (as at 31 March)
Investment in the net revenue purchase and transfer agreement 44,790.0 52,410.0
at cost 61,724.0 61,472.2
Investment in securities and cash at bank 672.5 997.5
Other assets 16.9 54.1
Total Assets 45,479.4 53,461.6
Total Liabilities 157.5 53.6
Net Asset Value 45,321.9 53,408.0
Net Asset Value per Unit (THB) 7.8303 9.2273
Income Statement
Total income 2,112.6 4,818.7
Total expenses 75.2 88.7
Net investment income 2,037.4 4,730.0
Net loss on valuation of investments (7,872.0) (6,729.8)
Changes in net assets resulting from operations (5,834.6) (1,999.8)6 Report of BTS Rail Mass Transit Growth Infrastructure Fund (BTSGIF)
for the year 2021
Unit: THB mn
Statement FY 2020/21 FY 2019/20
Cash Flow Statement
Net cash from operating activities 2,280.4 4,683.4
Net cash used in financing activities (2,251.5) (4,711.4)
Net increase (decrease) in cash at banks 28.9 (28.0)
Cash at banks at the beginning of the year 39.0 67.0
Cash at banks at the end of the year 67.9 39.0
Note: For the audit report for the year ended 31 March 2021, the auditor has an emphasis to draw attention to
Note 1.2 of the financial statements regarding the COVID-19 pandemic. The Fund’s management assessed
the financial impact in respect of the fair value of investment in the Net Revenue Purchase and Transfer
Agreement and the Fund has recorded the impact in the financial information for the year ended 31 March 2021.
The auditor’s opinion is not modified in respect of this matter. The key audit matter of financial statements of
the Fund in auditor’s professional judgement is the audit of the measurement of investment in the Net Revenue
Purchase and Transfer Agreement. The auditor gained an understanding of the calculation of the fair value of
investment in the Net Revenue Purchase and Transfer Agreement, considered the scope and objectives of
the fair value measurement performed by an independent appraiser, evaluated the techniques and models
applied by the independent appraiser to measure fair value, as specified in the fair value report prepared by
the independent appraiser, considered the consistency of the use of the techniques and models, evaluated
the competence and the independence of such independent appraiser based on the examination of publicly
available information and reviewed the key information and the reasonableness of key assumptions used in
the measurement by comparing the information on actual operating performance with the information used in
the estimation of cash flows expected to be realised in the future to evaluate the judgement of the Fund’s
management and tested the fair value calculation in accordance with the above models and assumptions in
order to address this matter in the context of auditor’s audit of the financial statement as a whole, and in
the forming auditor’s opinion thereon. The auditor does not provide a separate opinion on this matter.
For the year 2020/21, the Fund recorded the net loss on valuation of investments of THB 7,872.0mn
primarily from devaluation in the fair value of its investment in the Net Revenue Purchase and Transfer Agreement
of THB 7,620.0mn (non-cash expense) due to the impact of new wave of COVID-19 pandemic, including
the update of other assumptions to correspond to current economic conditions and situations (such as lower
economic growth rate, lower number of tourists in Bangkok, lower inflation rate, delay of fare increase on Core
BTS Network, change in the opening of some rail projects and the adjustment of entry fee for other rail projects,
etc.), resulting in the decrease in the forecasted performance of BTS Skytrain from FY 2021/22 to the concession
expiry, and the recognition of the investment cost for Saint Louis station of THB 251.8mn.Report of BTS Rail Mass Transit Growth Infrastructure Fund (BTSGIF)
for the year 2021
7
2.2 The Performance of the Fund
The Management Company summarises the performance of the Fund from 1 April 2020 to
31 March 2021 as shown in the annual report for the year 2020/21 as Attachment 1, detailed as follows:
Unit: THB mn
Statement FY 2020/21 FY 2019/20 %YoY
Farebox revenue 3,714.9 6,814.2 (45.5)%
Total operating and maintenance costs 1,607.1 2,015.8 (20.3)%
Employee expenses 562.0 693.0 (18.9)%
Maintenance costs 467.4 466.0 0.3%
Utilities expenses 321.7 372.9 (13.7)%
Property insurance premium 19.4 17.3 12.1%
Selling expenses* 66.6 69.7 (4.4)%
Administrative and other expenses* 77.2 92.6 (16.7)%
Capital expenditures 92.8 304.3 (69.5)%
Total income from investment in Net Revenue 2,107.8 4,798.4 (56.1)%
Purchase and Transfer Agreement
* Some items in selling expenses were reclassified to administrative and other expenses since Apr 2020
The income from investment in Net Revenue Purchase and Transfer Agreement for the year
2020/21 was THB 2,107.8mn, decreasing by 56.1% YoY, primarily due to COVID-19 impact since April 2020
and new waves throughout this year. This reflects lower out-going activities, lower tourists, and more work-
from-home patterns, even though the ridership weakened from COVID-19 situation, there were the full operation
of the Northern Green Line Extension and additional Saint Louis station this year, which causes a decrease in
ridership by 47.3% YoY to 124.9mn trips. This was partially offset by an increase in the average fare by 2.5% YoY
to THB 29.7 per trip from the removal of the discount on stored value card (Purse) to be the same fare as single
journey card since April 2020.
The operating and maintenance costs for the year 2020/21 decreased by 20.3% YoY to
THB 1,607.1mn, primarily from the decrease in
(i) Capital expenditures (AFC system upgrade of THB 32.9mn, station improvement of THB 25.5mn
and rolling stocks of THB 6.3mn this year, compared to rolling stocks of THB 161.4mn, radio upgrade of
THB 42.2mn and AFC system upgrade of THB 31.5mn last year)
(ii) Employee expenses from lower bonus payment, no base salary increase and lower allocation
costs from the opening of new green line extensions and
(iii) Utilities expenses from reducing operating hours during the curfew period and lower ridership
resulting in less electricity consumption together with lower security expenses.8 Report of BTS Rail Mass Transit Growth Infrastructure Fund (BTSGIF)
for the year 2021
The Opinion of the Management Company
The Management Company deems it appropriate to report the Unitholders to acknowledge
the financial statements and the performance of the Fund for the year 2020/21.
The Opinion of the Fund Supervisor
The Fund Supervisor deems it appropriate to report the Unitholders to acknowledge the financial
statements and the performance of the Fund for the year 2020/21.
Item 3 To acknowledge the payment of dividend and capital return for the year 2020/21
The Fund has a policy to pay dividends to Unitholders more than once a year if the Fund has
sufficient retained earnings, in aggregate for each financial year, at a rate of no less than 90% of the adjusted
net profit.
For the year from 1 April 2020 to 31 March 2021, the Fund announced the capital return 3 times
in the total amount of THB 0.308 per unit, detailed as follows:
Dividend Capital Return* Total
Performance Period Payment Date
(THB / Unit) (THB / Unit) (THB / Unit)
1 April – 30 September 2020 - 0.134 0.134 15 December 2020
1 October – 31 December 2020 - 0.125 0.125 15 March 2021
1 January – 31 March 2021 - 0.049 0.049 28 June 2021
Total - 0.308 0.308
* Reason of the Return of Capital: the Fund has loss on valuation of investments which was non-cash expense.
For the performance period above, the Fund has a payout ratio to the Unitholders of the Fund for
the year 2020/21, in term of capital return of 87.50% of net investment income (before adjusting the net gain
(loss) on valuation of investments).
The dividend payment from the Fund’s performance from 1 April 2020 to 31 March 2021 was not
in accordance with the terms and policy of dividend payment specified in the Fund prospectus since the Fund
has retained deficits. Thus, the Management Company would not pay dividends from the operational performance
during such periods. Nevertheless, the Fund had cash from the operation (from loss on valuation of investments
which was non-cash expense); thus, the Fund paid out in the form of capital return.
In addition, the Management Company prepares a table of comparison of the dividend payment
and capital return for the year 2020/21 and 2019/20, detailed as follows:
Dividend Capital Return Total
For the year
(THB / Unit) (THB / Unit) (THB / Unit)
2019/20 0.284 0.491 0.775
2020/21 - 0.308 0.308Report of BTS Rail Mass Transit Growth Infrastructure Fund (BTSGIF)
for the year 2021
9
The Opinion of the Management Company
The Management Company deems it appropriate to report the Unitholders to acknowledge
the payment of dividend and capital return for the year 2020/21.
The Opinion of the Fund Supervisor
The Fund Supervisor deems it appropriate to report the Unitholders to acknowledge the payment
of dividend and capital return for the year 2020/21.
Item 4 To acknowledge the appointment of the auditor and remuneration for the year 2021/22
The Management Company has appointed EY Office Co., Ltd. to be the auditor of the Fund for
the year 2021/22 and determines the remuneration for the year 2021/22, detailed as follows:
4.1 The Appointment of the Auditor
The Management Company hereby informs the Unitholders to acknowledge the appointment of
the auditor of the Fund for the year 2021/22 whom has been approved in accordance with the regulations of
the Office of the SEC. The Management Company considered the qualification and capability of the auditors
based on the qualification, quality, competence, and the independence of the auditor who does not have any
interest or conflict of interest in performing duties as an auditor of the Fund. The names of the auditors are as
follows:
For the year 2021/22 For the year 2020/21
CPA Registration CPA Registration
Names of the auditors Names of the auditors
Number Number
1. Miss Pinpaka Akaranuphong 5767 1. Miss Pinpaka Akaranuphong 5767
2. Miss Waraporn Prapasirikul 4579 2. Miss Waraporn Prapasirikul 4579
3. Mrs. Chonlaros Suntiasvaraporn 4523 3. Mrs. Chonlaros Suntiasvaraporn 4523
Note : The auditor No. 1, the key audit partner, has conducted the audit for the Fund for 3 fiscal years (since
the year 2018/19). If the aforementioned auditor has conducted the audit for the Fund for 7 fiscal years, whether
consecutively or not, such auditor must cease to perform duties as an auditor for the Fund at least 5 consecutive
fiscal years.
In the case that aforementioned auditors are unable to perform their duties, EY Office Co., Ltd. shall
arrange its other auditors as the replacement to audit and express the opinion of the Fund’s financial statement.10 Report of BTS Rail Mass Transit Growth Infrastructure Fund (BTSGIF)
for the year 2021
4.2 The Determination of the Remuneration
The Management Company deems it appropriate to report the Unitholders to acknowledge
the determination of the remuneration for the year 2021/22, detailed as follows:
Audit Fee Year 2021/22 Year 2020/21 % Change
Annual audit fee 1,800,000 1,800,000 -
Other expenses Reimbursement has not been requested yet 1,349 N/A
Other expenses will be charged at the actual cost e.g., photocopy fee, travelling fee and other fees.
The above annual audit fee for the year 2021/22 does not include additional work which may have
if the Net Revenue Purchase and Transfer Agreement is amended in the future. Fees for this additional work will
be charged based on the actual hours spent but will not exceed THB 200,000. The fee cap may need to be
raised if there are other amendments besides those to farebox revenue compensation, such as the period of
the agreement or new conditions, or if the agreement is replaced.
The Opinion of the Management Company
The Management Company deems it appropriate to report the Unitholders to acknowledge
the appointment of the auditors and remuneration for the year 2021/22, as detailed above. The Management
Company considered that the aforesaid auditors from EY Office Co., Ltd. are the certified auditor in accordance
with the regulations of the Office of the SEC. The auditors have conducted their duties professionally and
do not have any relationship or interest with the Fund.
The Opinion of the Fund Supervisor
The Fund Supervisor considered that the auditors from EY Office Co., Ltd. as proposed by
the Management Company are the certified auditors in accordance with the regulations of the Office of the SEC.
The auditors have conducted their duties professionally and do not have any relationship or interest with the Fund.
The Unitholders may submit questions and inquiries related to the Report and its related supporting
documents including the annual report for the year 2020/21 of the Fund by 6 August 2021 via the following
channels:
1. E-mail to btsgif_agm@bblam.co.th
2. Registered mail address to
Real Estate and Infrastructure Investment (Questions and Inquiries)
BTS Rail Mass Transit Growth Infrastructure Fund
BBL Asset Management Company Limited
No. 175 Sathorn City Tower, 21st floor, South Sathorn road,
Tungmahamek sub-district, Sathorn district, Bangkok 10120แขวงทุ่งมหาเมฆ เขตสาทร กรุงเทพมหานคร 10120
โดยหลักเกณฑ ์การส่งคาถามและสอบถามขอ้ มูลเพิ่มเติมที่เกียวข ่ อ้ งกับรายงาน
ข อ้ มูล และเอกสารประกอบที่เกียวข ่ อ้ ง มีรายละเอี of BTS Rail Mass Transit สิ
ยดปรากฏใน
Report ่ Infrastructure
งที
Growth ่ งมาด้
ส่ Fundว ย2
(BTSGIF) 11
for the year 2021
ที่ ไ ด ้ จั ด ส่ ง ใ ห ้ แ ก่ ผู ้ ถื อ ห น่ ว ย ล ง ทุ น พ ร ้อ ม กั บ ร า ย ง า น ข ้ อ มู ล ฉ บั บ นี ้
The criteria for submitting questions or inquiries in relation to report and supporting appears in
และบริษท ั จัดการจะดาเนิ นการจัดทาสรุปประเด็นสาคัญในลักษณะคาถามและคาตอบเ
the Attachment 2 herewith. The Management Company will summarise the questions and answers and inform
พื่ by
the Unitholders อ publishing
ใ ห ้ on ผู ้ theถืdigitalอ platform
ห น่of theว Stock
ย Exchange
ล ง ทุof Thailand น ร ั andบ on ทthe website ร า ofบ
the Fund โดยเผยแพร
at www.btsgif.comผ ่ within
่า นระบบสารสนเทศของตลาดหล
14 days from the last day of the said inquiry กั ทร พ
ั ย ์แห่period.
submission ง ประเทศไท Should youย
have any รinquiry
ว ม orถ question
งึ เ ว ็บinไrelation
ซ ต to ์ข submission ุน ที ่please
อ ง ก อ งof ทquestions, www.btsgif.com
contact the Management ภ า ย Company
ใ น 14
วั น นั บext.
via 0-2674-6400 แต่469 ที่ บ ริbusiness
วั นduring ก ารปิ ด ร ับ ค าถ าม แล ะข ้ อ ส อ บ ถ าม เพิ่ ม เติ ม นั้ น
ษ ั ท จั ดhours.
หากท่ านมี ข อ้ สงสัย หรือ ค าถามเกี่ ยวกับ การส่ งค าถาม สามารถสอบถามได ท ้ ่ี
บริษท ั จัดการ โทร 0-2674-6400 ต่อ 469 ในวันและเวลาทาการ
ขอแสดงความนั
Best regards, บถือ
(Mr.Pornchalit
(นายพรชลิ Ploykrachang)
ต พลอยกระจ่ าง)
Deputy Managing Director
Deputy Managing Director
Real Estate & Infrastructure Investment
Real Estate & Infrastructure Investment
1812 Report of BTS Rail Mass Transit Growth Infrastructure Fund (BTSGIF)
for the year 2021
Attachment 1
Attachment 1
2020/21 Annual Report
of
2020/21 Annual Report
BTS Rail Mass Transit Growth
of Infrastructure Fund
(BTSGIF)
BTS Rail Mass Transit Growth Infrastructure Fund
(BTSGIF)Report of BTS Rail Mass Transit Growth Infrastructure Fund (BTSGIF)
for the year 2021
13
Attachment 2
The Criteria for Submitting Questions and Inquiries in Relation to
the Report of BTS Rail Mass Transit Growth Infrastructure Fund (BTSGIF)
for the Year 2021 to the Unitholders in lieu of Convening
the Annual General Meeting of the Unitholders for the Year 2021
and Supporting Documents
1. The qualification of the Unitholders to submit questions and inquiries related to the report of the Fund
for the year 2021 in lieu of convening the Annual General Meeting of the Unitholders for the year
2021 (the “Report”) and the related supporting documents
The qualification of the Unitholders to submit questions and inquiries
• Must be the Unitholders of BTS Rail Mass Transit Growth Infrastructure Fund (BTSGIF)
(the “Fund”) whose name appeared in the Unitholders registration book of the Fund on 30 June 2021
which is the date to determine the rights of the Unitholders to receive the Report (Record Date)
in lieu of Convening the Annual General Meeting of the Unitholders for the Year 2021
The supporting documents
For natural persons:
• A certified true copy of unexpired identification card or passport (as the case may be)
For juristic persons:
• A copy of company affidavit (issued not more than 3 months old) certified true copy by
the authorized director together with the company’s seal affixed (if any) or any additional documents
requested by the Management Company
• A certified true copy of unexpired identification card or passport (as the case may be) of
the authorized director
2. Matter of questions and inquires
• Must relate to the information contained in the Report as follows:
Item 1 To acknowledge the Fund’s significant management and the management guideline in
the future
Item 2 To acknowledge the financial statements and the performance of the Fund for the year
2020/21
Item 3 To acknowledge the payment of dividend and capital return for the year 2020/21
Item 4 To acknowledge the appointment of the auditor and remuneration for the year 2021/22
• Must relate to other significant information contained in the supporting documents of the Report i.e.
the annual report for the year 2020/2114 Report of BTS Rail Mass Transit Growth Infrastructure Fund (BTSGIF)
for the year 2021
Attachment 2
3. Consideration Process
• The qualified Unitholders pursuant to item 1. are entitled to submit their questions and inquiries in
relation to the Report or the supporting documents by using “Form for Unitholders to Submit
Question and Inquiry” attached herewith at the end of this Attachment submitting to the Management
Company by 6 August 2021 within 5.00P.M.. (closing date for submission) via the following channels:
1. E-mail to btsgif_agm@bblam.co.th or
2. Registered mail to:
To :
Real Estate and Infrastructure Investment (Question and Inquiry)
BTS Rail Mass Transit Growth Infrastructure Fund
BBL Asset Management Company Limited
No. 175 Sathorn City Tower, 21st floor, South Sathorn road,
Tungmahamek sub-district, Sathorn district, Bangkok 10120
Note: Delivering expenses and all related expenses shall be borne by the Unitholders.
• The qualified unitholders must completely specify name, surname, nationality, identification number or
passport number or juristic identification number (as the case may be), address, telephone number,
email (if any), including the amount of the unit holding in the Fund.
• The qualified unitholders must submit the Form for Unitholders to Submit Question and Inquiry to
the Management Company by 6 August 2021 within 5.00P.M..
• All questions and inquiries submitted will be initially considered by the Management Company and
the Management Company will summarise the questions and answers and inform the Unitholders by
publishing on the digital platform of the Stock Exchange of Thailand and on the website of the Fund
at www.btsgif.com within 14 days from the last day of the said inquiry submission period. In the event
that the submission of question and inquiry is not in accordance with the criteria as specified in item 2.
or the question and inquiry is not submitted to the Management Company within the specified period
as stipulated in item 3., the Company shall deem that the Unitholders waive their rights to submit such
question and inquiry.Report of BTS Rail Mass Transit Growth Infrastructure Fund (BTSGIF)
for the year 2021
15
Attachment 2
Form for Unitholders to Submit Question and Inquiry
in Relation to the Report of BTS Rail Mass Transit Growth Infrastructure Fund
(BTSGIF) for the Year 2021
in lieu of convening the Annual General Meeting of the Unitholders
for the Year 2021 and supporting documents
Date................................
I/We, Mr./Mrs./Miss...........................................................................................Nationality........................................
Identification No. /Passport No. /Juristic Identification No. ...................................................................................
Address..................................................................................................................................................................
..................................................................................................................................................................................
Tel........................................................E-mail........................................................................... being a Unitholder
of BTS Rail Mass Transit Growth Infrastructure Fund (BTSGIF), holding the total amount of ..........................units
hereby, submit questions and inquiries, as detailed below (Please specify that the questions are in relation to
which agenda of the Report or specify the name of supporting documents in question e.g. the annual report for
the year 2020/21 (in case the question relating to the supporting documents)
1. ........................................................................................................................................................................
........................................................................................................................................................................
........................................................................................................................................................................
2. ........................................................................................................................................................................
........................................................................................................................................................................
........................................................................................................................................................................
3. ........................................................................................................................................................................
........................................................................................................................................................................
........................................................................................................................................................................
4. ........................................................................................................................................................................
........................................................................................................................................................................
........................................................................................................................................................................
Signed......................................................................... the Unitholder
( )175 Sathorn City Tower 7th, 21th and 26th Floor, South Sathorn Road, Tungmahamek, Sathorn,
Bangkok 10120 Tel. 0-2674-6488 Fax 0-2679-5996You can also read
