UOB Thailand and Frasers Property Industrial Thailand have signed a memorandum of understanding (MOU) to jointly support industrial investment, trade promotion and financial facilitation for businesses expanding across Thailand, Vietnam and Indonesia, according to a July 2 announcement.
Under the agreement, Frasers Property Industrial Thailand will provide general support for businesses investing in industrial space on guidance on local policies, regulations and potential investment opportunities.
Meanwhile, UOB Thailand will offer a suite of financial solutions, including regulatory advisory, project financing, trade facilities and treasury services.
Frasers Property Industrial Thailand is the industrial business of Frasers Property (Thailand) Public Company Limited (FPT). FPT, formerly known as TICON Industrial Connection PCL, was established in 1990 and is currently listed in Thailand.
FPT’s industrial business currently operates over 3.48 million sqm of industrial facilities across Thailand, housing 946 factories and warehouses nationwide.
In Vietnam and Indonesia, FPT holds 140,000 sqm and 150,000 sqm of industrial space respectively.
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Richard Maloney, president and CEO of UOB Thailand, calls the collaboration a “significant step forward” to catalyse industrial growth across the region. “As businesses increasingly look to Southeast Asia for resilient supply chains and strategic expansion, this MOU enables us to jointly identify and support high-potential industrial developments in key markets.”
Peerapat Srisukont, FPT’s managing director of industrial business, says: “With our extensive industrial footprint across Thailand, Vietnam and Indonesia, we are excited to work with UOB to provide seamless support for global manufacturers and enterprises expanding into Southeast Asia.”
As at 11.03am, shares in UOB are trading 3 cents lower, or 0.08% down, at $36.03.
