Frasers Property (formerly: Frasers Cpt (FCL))

[greengiraffe]

Charoen is rumoured to be after UE.

IMHO, FCL is unlikely to be involved. FCL will have ALZ sitting on its books for value extractions. TCC Assets is likely to be the main vehicle bidding for UE's property assets ex the ongoing sale of non core assets.

I highly doubt that TCC would be involved in the ridding of UE's noncore assets but would pay a reasonable price for it quality real estate portfolio. In this aspect, UE E&C will be integral to the acquisition as it will serve as an value-added in house builder.

As we have seen in FHT, FCL stands to benefit as Towkay's future plans to recycle capital and unlock values from matured assets in due course.

With a growing pipeline of assets, FCL will likely benefit from acquisition fees and recurrent asset management fees should its comprehensive suite of REITs acquire assets from within FCL and from Towkay's private vehicle. Such moves will place FCL ahead of the rest of the competition such as Capland, Kep Land as their pipeline in sought after and well regulated capital cities dwindles following exhaustive injections into their REITs in recent years and lack of replenishment.

GG