Bangkok, June 7, 2016 ? The SEC is seeking public comments on draft rules governing the conversion of property funds (Type 1) to Real Estate Investment Trusts? (REIT) to make it more practical for the private sector to undergo such process.

The drafting process of the said rules has taken into account the comments and recommendations gathered from the previous hearing conducted in April on the principles for such kind of fund conversion.

The key provisions include (1) permission to pay for the purchase of property fund assets during the fund conversion process with trust units or combination of trust units and cash, and (2) extension of deadline for the whole process, from the transfer of property fund assets to REIT to the listing of REIT on the Stock Exchange, from within 15 business days from the approval date of the REIT offering to within 15 business days from the closing date of such offering, to allow all parties involved more time to meet all requirements.

The consultation paper is available at www.sec.or.th/hearing. Stakeholders and interested parties are welcome to submit comments through the website, or facsimile at 0-2263-6364 or email: nopparat@sec.or.th.

The public hearing ends on June 10, 2016.