BBL Asset Management Co. Ltd., acting as the REIT manager of Bualuang Office Leasehold Real Estate Investment Trust (B-WORK), informed the reasons for being unable to consider paying distributions for the first quarter of 2024 to trust unitholders. The details are as follows: B-WORK has a policy for paying dividends at least twice a year, which includes dividends for the fiscal year (Year-End Distribution) and interim dividends (Interim Distribution).

As of March 31, 2024, B-WORK holds retained earnings on the financial statement amounting of THB 77.7 million. However, due to regulatory requirements from the Securities and Exchange Commission mandating the annual evaluation of asset fair value, potential gains or losses may occur in accounting, which could directly affect the 2024 annual financial statements, potentially leading to accumulated losses. In such a scenario, B-WORK would be unable to pay interim dividends and dividends for the fiscal year.

In order to prevent B-WORK from violating relevant regulations, B-WORK is unable to consider paying distributions for the accounting period January 1, 2024, to March 31, 2024. However, the REIT manager will reschedule the annual asset valuation from the 3rd quarter to the 2nd quarter of 2024, to utilize this information for the consideration of benefit payments and/or the reduction of paid-up capital remains in accordance with the established criteria.