Frasers Property (formerly: Frasers Cpt (FCL))

[piggo]

As mentioned, their debts are mainly long term debts... which mitigates rising interests rates somewhat. Also quality of underlying assets was recently proven by FLT's IPO which was around the same as its valuation. 

Anyway just a quick comparison of Capitaland, Frasers and Wing Tai... 
[Image: 96Tr9Ff.png]
This is just a rough idea though, extracted the data from IG... so wouldn't expect 100% accuracy! 

[vingaard]

I was reading the 2016 AR and found this statement on page 71: "Net interest expense for the year amounted to $181million, which includes $39 million that was capitalized as part of Property Under Development".

This would make the interest expense on the P&L statement look much smaller than what it actually is. Is this the usual practice for property developers, i.e. Capitalise part of the interest expense as property under development?


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[cyclone]

Subscription Price = 18.00 baht per share.
735,000,000 * 18 = 13,230,000,000.00 baht.
FPHT = Frasers Property Holdings (Thailand) Co., Ltd, a wholly-owned subsidiary of FCL.

Completion of Subscription of Shares in Ticon Industrial Connection PUblic Company Limited

FCL wishes to update that FPHT has on 17 January 2017 completed the acquisition of 735,000,000 New Shares at the Subscription Price under the terms and conditions of the Agreement.
Following the Share Subscription and as the date of this Announcement, FPHT holds approximately 40% of the shareholding in TICON and TICON has become an ssociated company of the Company

[piggo]

Anybody managed to attend the AGM yesterday? 

Wondering if there are any news on Jurong Point. 

https://www.srx.com.sg/singapore-propert...rong-point

[cyclone]

Frasers Centrepoint Singapore launches Frasers Tower

Frasers Centrepoint Singapore today launched Frasers Tower, located at 182 Cecil Street.
Frasers Tower is expected to be completed in the second quarter of 2018. The development has a total net lettable area ("NLA") of approximately 663,000 square feet ("sq ft") and comprises a 38-storey Premium Grade-A office tower and an adjacent three-storey cascading retail podium featuring various food and beverage offerings. It is also the first commercial building to be nestled in a park of its own that connects to the Telok Ayer Park.

Mr. Christopher Tang, Chief Executive Officer, Frasers Centrepoint Singapore, said, "Businesses will be attracted to the new landmark as it occupies the prime corridor between the core CBD and upcoming Greater Southern Waterfront development, with complementary retail and lifestyle offerings in the vibrant and dynamic precinct. The appeal of the development is also in its unique blend of workspace and nature designed to inspire a stimulating, innovative and functional work environment. With the reduced office supply in 2018 and beyond, we are confident that demand for Frasers Tower will grow."

More details in http://infopub.sgx.com/FileOpen/Media%20...eID=438242

[cyclone]

Frasers Centrepoint Limited’s 1Q FY17 Attributable Profit up 90% on higher development contributions

* Revenue rose 45% to S$972 million, while attributable profit amounted to S$188 million
* Stronger performance driven by sales and completions of residential units
* Selective investments in secondary markets to position the Group for future growth
* In Singapore, FCL will be launching Seaside Residences at Siglap Road in the second quarter of 2017
* The Group is focused on working towards the expected completion of Northpoint City by the end of 2017

More details in :
1. http://infopub.sgx.com/FileOpen/FCL_1QFY...eID=438491
2. http://infopub.sgx.com/FileOpen/FCL_1QFY...eID=438493

[Boon]

Frasers Centrepoint outlook ‘quite positive’
The Australian
February 16, 2017
Elizabeth Redman

Singapore-listed Frasers Centrepoint is upbeat on the outlook for its Australian residential and industrial property operation, saying settlement issues from foreign home buyers are having only a minimal impact on its business. 

“I know it’s topical,” Frasers Property Australia chief executive Rod Fehring told The Australian, commenting on a string of reports of Chinese residential property buyers walking away from off-the-plan apartment sales and stricter lending requirements from Australian banks.

“The overall average is about 3 per cent of FIRB (Foreign Investment Review Board) contracts that we hold have failed to proceed to settlement, against a 10-year average of two and a bit per cent,” he said.

“In virtually all cases (of failed settlement), we’ve resold those dwellings on the market.
“We’d expect a similar performance in 2017.”

The group has noticed an extension in settlement times for foreign home buyers, to about eight to 12 weeks, up from a previous six to eight weeks.

Frasers was “quite positive” on its outlook for Australia, Mr Fehring said. The business is carrying more than 4200 contracts on hand and 2500 will settle in 2018.

“We expect we’ve significantly secured from a residential point of view the outlook for trading in 2017,” he said.
Expectations vary around the country: mining-affected Western Australia, where the group booked impairments in its previous quarterly results, is not set to change significantly this year.

But on the east coast Frasers is seeing “good inquiry” for Sydney, a “quite strong” start to the year for Melbourne, and “steady” demand for southeast Queensland.

“We’re seeing demand move from places like Sydney to Brisbane as investors look to invest in a lower-cost environment,” Mr Fehring said.

In its industrial business, Frasers reports strong leasing demand from companies supplying the residential building market with products such as tiles, carpet and glass.

Changes in the automotive industry are also having an effect.

As carmaking ceases in Australia and moves overseas, brands no longer have a plant that can manufacture spare parts.

Instead, automotive brands have been leasing warehouses to store and distribute spare parts.

Warehouse space at airports is also in demand from e-commerce operators and other suppliers offering same-day delivery.

Frasers — the Australian arm of which was known as Australand Property Group until it was taken over by the Singapore-listed parent — is also beefing up its ­retail business.

The group hired Tim Moore from Vicinity Centres as general manager, retail leasing, and ­Joanna Russell, formerly at Coles, as general manager, retail development.

The group has six projects, focusing on nondiscretionary retail with entertainment and eateries in the larger neighbourhood and smaller subregional categories.

Frasers is also looking for “complementary” tenants to the residential communities it develops, such as childcare and medical centres.

Overall, Frasers Centrepoint reported a 90.1 per cent jump in first-quarter profit to $S187.5 million ($172m), on the back of project completions in China and a larger contribution from its Singaporean division.

http://www.theaustralian.com.au/business...2edc8aee1c
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[cyclone]

Thai Billionaire Charoen Plans $3.5 Billion Bangkok Development

by Pooja Thakur Mahrotri  and Supunnabul Suwannakij
April 3, 2017, 1:56 PM GMT+8

Thailand’s richest man, Charoen Sirivadhanabhakdi, is planning a $3.5 billion property development in central Bangkok that will include offices, homes and shopping malls.

Charoen’s TCC Group and its Singapore unit Frasers Centrepoint Ltd. will develop the project, said Panote Sirivadhanabhakdi, group chief executive officer of Frasers Centrepoint. ‘One Bangkok,’ covering 16.7 hectares (41 acres), will be the largest mixed-use development in Thailand, he said.

“We aim to develop this project to be Thailand’s landmark,” Charoen Sirivadhanabhakdi said at a press conference in Bangkok on Monday. “I hope this project will house the headquarters of major global companies which will further expand growth to the country.”

More details in https://www.bloomberg.com/news/articles/...evelopment

[cyclone]

One Bangkok’, Thailand’s largest integrated development, set to transform Bangkok city-centre and become a new global landmark destination

Highlights :
* The project, called ‘One Bangkok’, is the largest private sector property development initiative undertaken in Thailand with an estimated investment value of over US$ 3.5 billion
* One Bangkok will be developed by a joint venture between TCC Assets (Thailand) Co., Ltd., holding 80.1%, and Frasers Property Holdings (Thailand) Co., Ltd. holding 19.9%.
* TCC Group is debuting the nation’s largest integrated district, One Bangkok, a new global landmark destination
* One Bangkok to emphasize people-centric and green-sustainability principles, raising the bar for the city’s future urban development
* One Bangkok, which has a total land area of 104 rai (16.7 hectares), to increase green and open areas in the city centre by 50 rai (8 hectares)
* One Bangkok to reflect Bangkok’s exciting diversity and rich cultural heritage
* Opening 2021

More details in :
1. http://infopub.sgx.com/FileOpen/Press_re...eID=445916
2. http://infopub.sgx.com/FileOpen/FCL_Suan...eID=445817

[cyclone]

Financial results for the first half ended 31 March 2017 (1H FY17)

Highlights :
1. Generated S$1,677 million revenue and S$510 million PBIT during the first half of the financial year
2. 1H FY17 attributable profit was S$259 million
3. Frasers Centrepoint Limited’s Attributable Profit inncreased by 17% in 1H FY17
4. 1H FY17 Attributable Profit (Before Fair Value Change and Exceptional Items) was S$253.2 million, grew 26% year on year
5. Declares 2.4 Singapore cents interim dividend per share
6. Invested further in recurring and overseas income sources.

More details in :
1. http://infopub.sgx.com/Apps?A=COW_CorpAn..._Final.pdf
2. http://infopub.sgx.com/FileOpen/FCL_1H_F...eID=452935
3. http://infopub.sgx.com/Apps?A=COW_CorpAn...tation.pdf