Thai Reits face tough start as tax rules hurt prospects

Thailand’s attempts to introduce real estate investment trusts have taken another hit after the property arm of conglomerate Charoen Pokphand Group announced plans for a Bt10bn ($318m) property fund. CP Land’s decision to press ahead with a fund listing is just one of many setbacks for the country’s regulators, who are looking to replace property funds with Reits by 2014, writes Rev Hui.