MFC Asset Management Public Company Limited

MII Trust successfully completed its first capital increase offering of 73 million trust units at 5.70 baht per unit, held from September 14 to 23, 2026, with investor demand exceeding the number of new units offered. Thanachot Rungsitthiwat, Managing Director of MFC Asset Management Public Company Limited, or MFC, as the trust's manager, said the capital increase raised a total of 416.10 million baht, and MII Trust used approximately 970 million baht in borrowings to acquire assets worth no more than 1,386 million baht, with ownership already transferred on September 29, 2026. The additional assets consist of land and three factory buildings with offices within the Green Park 1 project in Bang Pakong district, Chachoengsao province, on more than 57 rai of land with approximately 60,611.7 square meters of usable space. This raises leasable area to 123,885.80 square meters and increases the freehold ownership proportion to 72% from 46%, while the leasehold proportion falls to 28% from 54%. After the first capital increase, MII Trust will have total assets of approximately 3,200 million baht, spread across four key logistics and industrial locations: the Eastern Economic Corridor in Rayong and Chachoengsao provinces, the King Kaew industrial zone, and Navanakorn Industrial Estate in Pathum Thani province, with an occupancy rate above 90%. MII Trust has a track record of continuous dividend payments spanning more than 13 years since the founding of the M-II mutual fund in 2012 and its conversion into a trust in 2024, having paid total returns of approximately 9.56 baht per unit, or an average of 0.65 baht per unit per year. In 2025 it paid total dividends of 0.6673 baht per unit, and after the first capital increase it expects to pay increased distributions of 0.7082 baht per unit per year. The new units from the first capital increase are expected to begin trading on the stock exchange on October 5, 2026.

MFC Asset Management Public Company Limited, or MFC, has launched the MFC Global Memory Chip Equity Fund (M-GMEMORY) to give investors access to the growth of the global memory chip industry. The fund invests in units of the Amundi Global Memory Chips UCITS ETF Acc as its master fund, averaging no less than 80% of NAV per fiscal year, and will hold its initial public offering from September 22 to 25, 2026, with a minimum investment of 1,000 baht. The master fund aims to track the performance of the Solactive Global Memory Chips Index, which covers large, mid and small cap stocks in both developed and emerging markets, including companies tied to the memory supply chain, with roughly 40 companies in the portfolio as of August 31, 2026. Thanachot Rungsitthiwat, Managing Director of MFC, said the growth of Generative AI and AI data centers is a key driver pushing demand for memory chips to record highs, especially High Bandwidth Memory, or HBM, which offers 20 times the bandwidth of traditional DRAM. As a result, global manufacturers are shifting DRAM production capacity toward HBM, raising it from just 2% in 2020 to 25% in 2026, while DRAM memory prices have risen by as much as about five times since 2025. The HBM market is concentrated among three main players: SK hynix holds the largest share at about 50%, followed by Samsung at 40% and Micron at 10%.

MII Trust, or the MFC Industrial Investment Real Estate and Leasehold Investment Trust, is preparing its first capital increase to invest in the Green Park 1 project in the Eastern Economic Corridor, or EEC, with a value of not more than 1.455 billion baht. It will issue and offer no more than 75,800,000 new trust units at an offering price of 5.70 baht per unit, with subscriptions open from 14 to 23 September 2026, after the Securities and Exchange Commission approved the trust unit offering filing, which took effect on 20 August 2026. Thanachot Rungsitthiwat, Managing Director of MFC Asset Management, as the trust's manager, said the asset to be invested in consists of ownership of land and three factory buildings with offices within the Green Park 1 project in Bang Pakong District, Chachoengsao Province, on a total area of more than 57 rai, with total leasable area of approximately 60,611.7 square metres, a occupancy rate of more than 93% as of the end of June 2026, and an appraised asset value of 1.5673 billion to 1.617 billion baht. The trust will purchase the asset at a price about 7% below the minimum appraised value. After this investment, MII Trust will have factory building space for rent increasing from 63,274.10 square metres to 123,885.80 square metres, and the proportion of freehold assets will rise to 72%, while the average occupancy rate will increase to approximately 91.30%. JCK International Public Company Limited, as the main sponsor and property manager, will be responsible for all expenses related to the transfer of ownership of the assets in which the trust invests this time, and will hold no less than 7% of the trust units for a period of five years, along with the right of first refusal over the Green Park 1 extension project and Green Park 5 for a period of eight years. For the projection period from 1 April 2026 to 31 March 2027, distributions are expected to be approximately 0.7082 baht per unit. Existing trust unitholders may subscribe from 14 to 18 September 2026 at a ratio of 1 existing trust unit to 0.3924 new trust units. General investors may subscribe from 14 to 23 September 2026, and institutional and corporate investors submitting bookbuilding forms may subscribe from 21 to 23 September 2026.

MFC or MFC revealed that its provident fund (PVD) business in the first half of 2026 saw net asset value (AUM) increase by 20.14% from 126,951.99 million baht at the end of 2025 to 152,523 million baht at the end of June 2026, which is more than three times higher than the industry average growth rate of 6.23%. This growth was supported by new corporate clients, improved investment returns, and retention of existing clients, particularly state enterprises and large organizations such as the provident funds of PTT and its affiliates, Provincial Electricity Authority, Thailand Post, Expressway Authority of Thailand, and Tobacco Authority of Thailand. Meanwhile, Mr. Kaset Chaiwanphen, Chief Marketing Officer of Sales and Marketing at MFC, stated that in the second half of 2026, the company plans to bid for management of several large funds, with a total AUM value of approximately 30,000 million baht, which is expected to support AUM growth for the remainder of the year. Currently, MFC Master Fund offers 32 investment policies, with plans to increase to 41 policies to provide members with more options to align their portfolios with their goals and risk levels.

MFC Asset Management reported second-quarter net profit for 2026 jumped 141.69% to 186.18 million baht, on total revenue of 619.65 million baht, up 66.07% from the same period last year. This lifted first-half total revenue to 1.09 billion baht, up 49.96%, with net profit of 261.87 million baht, up 99.54%. Managing Director Thanachot Rungsitthiwat said that during the first half, MFC launched 17 new mutual funds with combined net asset value of 11.91 billion baht, reflecting investor confidence and an expanding new client base. As of 30 June 2026, book value stood at 12.39 baht per share, up from 11.05 baht at the end of 2025. Return on equity rose to 33.66% from 17.26%, and net profit margin on total revenue increased to 24.05% from 15.10%.