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The share price needs to go up to reduce the gearing ratio. More borrowing means bad for gearing ratio. No doubt that FCL will use the money wisely, but the precarious state of the current economic situation will render the retail investors (FCL's shareholders) fearful. Note that the share price does not rise very much despite the good second quarter report. How uncool is that! Let's see whether it will reach more than $2 after this year. If $2 is not reached, this shows the narrow growth of FCL in terms of its stock's price (Not the growth of company). If tomorrow share price does not rise, next week we will be seeing FCL's share price dropping to $1.815. The key to solve this problem is to wait for Thai BEV to sell the FCL's shares to increase liquidity.
(Not Vested)
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Well i wont expect the market to be efficient all the time.. It feels good to predict but many predictions turn out to be unimportant
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> The latest S$500m 7 year bonds is also a much better deal than a institutional S$200m
This is certainly a cheap source of funding. Hopefully it can replace some expired bank loans...
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22-05-2015, 09:43 PM
(This post was last modified: 23-05-2015, 04:04 PM by greengiraffe.)
FCL is being featured in the latest edition of The Edge.
Nothing new really but the feature spotlighted the importance of FCL's suite of REITs.
One statement that caught my attention was:
The stated intentions, following the acquisition, was to securitise Australand's assets.
I wonder if the "stated intentions" was that of the journalist or that of FCL since one would have logically deduced from such a mega acquisition and how it will eventually dovetail into FCL. Alongside other buddies here, I have been speculating on FCL's gameplan of going asset light not much different to Capland's historical moves in early to mid 2000s.
Anyway, I continue to hold the view that Towkay and his team will have FCL's own version of asset light strategy in view of how Capland and Kepland stripped their previous core assets.
So far it seems that Towkay is determined to have a sustainable pipeline for its REITs rather than to skate on empty in time to come.
NB: The above is my biased view.
Vested
GG
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Monday will see share price drop to 1.830. How cool is that! My stand remains. If it can rise to above 2.00 after this year, I would then consider FCL a growth company. If suka suka from the current price drop back to 1.7 or 1.6++, then this is kind of retarded growth concept!
Vested little nia!
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Euro hunting..
FRASERS CENTREPOINT LIMITED (Incorporated in the Republic of Singapore) (Company Registration No. 196300440G)
INCORPORATION OF SUBSIDIARY
Pursuant to Rule 704(17)© of the Listing Manual of the Singapore Exchange Securities Trading Limited, Frasers Centrepoint Limited (“FCL”) wishes to announce that Frasers Hospitality Holdings Pte. Ltd., a wholly-owned subsidiary of FCL, has incorporated a whollyowned subsidiary in Singapore named “Frasers Hospitality Europe Investments Pte. Ltd.” with an initial issued share capital of S$2.00, for the purpose of investment holding.
BY ORDER OF THE BOARD
Piya Treruangrachada Company Secretary
26 May 2015
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