About Us
About Us
KPN TOWER
ESTABLISHED IN 1992, KPN GROUP CORPORATION LIMITED IS A CONGLOMERATE WITH DIVERSIFIED HOLDINGS AND A CORPORATE STRUCTURE THAT HAS EVOLVED OVER THE DECADES IN LINE WITH THE SHIFTING ECONOMIC LANDSCAPE.
The origins of KPN
For years, KPN’s core identity was that of an automotive manufacturer. Indeed, this was not far from reality as the group was a major industry player. The origins of KPN were rooted in Khunying (lady) Phornthip Narongdej, who was the extraordinarily successful chief executive officer of siam motors group, the first company in Thailand to import japanese automobiles and heavy machinery founded by her late father Dr. Thaworn Phornprapha. Khunying Phornthip’s extensive and in-depth experience in automotive paved the way for her to form KPN with her husband Dr. Kasem Narongdej.
“KPN” is derived from its founders’ names
Established as their wholly owned business. “KPN” is derived from its founders’ names – Dr. Kasem and Khunying Phornthip Narongdej.
The formation of KPN coincided with the period when the Japanese automotive and motorcycle industry first used Thailand as a manufacturing base.
It started off as the sole manufacturer and distributor of Yamaha motorcycles, and later for all major Japanese brands except Kawasaki. Consequently, the Group expanded rapidly into stamping, casting, and forging metal parts, and producing various electric, electronic, and plastic components for various marques. The Group produced components and parts for up to 80% of the market’s needs when manufacturing was KPN’s primary business.
Less known perhaps during this period was KPN’s extensive involvement in the service sector with businesses such as logistics, automotive leasing, automobile spare part sales and distribution, and the import-export of motorcycle parts.
Over the years, as manufacturing bases in various industries began to shift out of Thailand to cheaper countries, KPN decided to assess their holdings and re-align their investments to better retain its competitive advantage. Thus, the Group began to actively reduce its role in manufacturing businesses from being an operational majority shareholder to a minority shareholder, and in some cases, completely divesting from the business. At the same time, the Group also began to diversify into new industries, and invest in existing businesses with brighter growth prospects.
During this transition period, KPN Music Academy rose to prominence under the leadership of Khun Nop, inspired by his mother. From the outset, music had long been Khunying Phornthip’s personal interest, which led her to develop quality music education in Thailand by founding both Siam Yamaha and Siam Kolkan Music Schools when she worked for her family, and KPN Music Academy in 1966. Interestingly, it is the “Thailand Singing Contest” ,first organized in 1983, which continues to garner the greatest publicity for the Group being Thailand’s only music competition that bestows HM the king’s Awards. Today , the singing contest is renamed the KPN Award. This business is managed by Khun Korn Narongdej
KPN Real Estate Investment Trust (KPNREIT)
is an independent, diversified REIT, focusing on investing in various types of real estate, including warehouses, factories, and self-storage facilities, located in strategic areas along economic corridors and key distribution and logistics hubs in Thailand.
Currently, KPNREIT’s primary investment is in KPN Tower, which is undergoing an asset-enhancement project to maximize its revenue-generating potential and elevate its competitiveness. This is being carried out alongside efforts to seek new investment opportunities in additional assets to foster growth and strategically diversify the investment portfolio.
Blue Whale Asset Company Limited is the REIT Manager, and SCB Asset Management Company Limited is the Trustee.
The KPN Real Estate Investment Trust (“KPNREIT”) was established with the objective of converting the KPN Property Fund (“KPNPF”) into a real estate investment trust (REIT). KPNREIT acquired the primary asset, KPN Tower Office Building, from the KPN Property Fund. The trust units of KPNREIT were listed on the Stock Exchange of Thailand on December 26, 2024.
KPNREIT has an investment policy focused on core real estate assets or leasehold rights to real estate (including sub-leasehold rights). These assets are utilized to generate income in the form of rental and service fees or other similar types of income. The trust also aims to improve, renovate, develop the potential of, and/or dispose of these assets to generate income and returns for the trust.
In addition to the primary asset acquired from the KPNPF, KPNREIT has a policy of diversifying its investments into a wider range of real estate assets to expand its income base and reduce reliance on any single type of business. The additional target assets for investment include warehouses, factory buildings, distribution centers, and self-storage facilities, as well as other real estate assets related to or supporting the rental business of such properties.
Name of Trust
KPN Real Estate Investment Trust (KPNREIT)
Ticker
KPNREIT
REIT Manager
Blue Whale Asset Co., Ltd.
Initial Asset Investment
Freehold right of land and building, KPN Tower
Portfolio Expansion
The trust aims to invest in additional real estate assets to foster growth and diversify sources of income. Targeted assets include warehouses, factory buildings, distribution centers, and self-storage facilities.
Trustee
SCB Asset Management Co., Ltd.
Contact Us
Feel Free to Contact Us if You have Any Questions
719 RAMA IX Road Bangkapi,
HuayKwang ,Bangkok 10310 Thailand
Phone: 02 717 0100 est. 348
Fax: 02 717 0104
Email: [email protected]