Frasers Property (formerly: Frasers Cpt (FCL))

[cyclone]

Mega Development Northpoint City Set to Welcome Shoppers in Q4; Mall On Track for Soft Opening with Close to 90% Leased

The largest mall in Northern Singapore will open to shoppers in the fourth quarter this year. Developed by Frasers Centrepoint Singapore, the mall is part of Northpoint City, the largest integrated development in the North, housing over 400 retail and dining outlets across two retail wings. When completed, the 1.33 million square feet Northpoint City will also include the 920-unit North Park Residences, community spaces, an air-conditioned bus interchange and an underground retail link with direct access to Yishun MRT Station.

More details in http://infopub.sgx.com/FileOpen/Announce...eID=463850

[cyclone]

Frasers Centrepoint Limited Strengthens UK and Europe Platform with Acquisition of A High Quality Portfolio of Business Parks

Highlights :
1. Aggregate consideration of £686 million for four business parks
2. The four business parks are Winnersh Triangle, Chineham Park, Watchmoor Park and Hillington Park
3. Conditional sale and purchase agreement for the acquisition of a business park located at Bracknell, United Kingdom ("Maxis")
4. Entry into the resilient UK business park segment in line with FCL’s strategy to grow overseas presence and recurring income sources
5. Portfolio of strategically located and high quality business parks are highly defensive with growth prospects
6. Entry into sale and purchase agreements to acquire business parks located in the United Kingdom from the subsidiaries of a fund or account managed by Oaktree Capital Management, L.P.

More details in :
1. http://infopub.sgx.com/FileOpen/FCL%20-%...eID=470192
2. http://infopub.sgx.com/FileOpen/FCL%20-%...eID=470194
3. http://infopub.sgx.com/FileOpen/FCL%20-%...eID=470193

[cyclone]

Financial Results for the Financial Year ended 30 September 2017 ("FY17")

Highlights :
1. Revenue and PBIT rose 17% and 16% year-on-year ("YoY") to S$4,027 million and S$1,089 million respectively in FY17
2. Attributable profit before fair value change and exceptional items climbed 2% YoY to S$488 million
3. Attributable profit came in higher at S$689 million, mainly due to a S$215 million fair value gain on investment properties
4. Frasers Centrepoint Limited’s Full Year Attributable Profit Rises 15% to S$689 Million
5. Enlarged presence in international markets and ramped up industrial and logistics capabilities, increasing sources of recurring income
6. Proposes 6.2 Singapore cents final dividend to be paid on 14 February 2018.

More details in :
1. http://infopub.sgx.com/FileOpen/FCL_Full...eID=477717
2. http://infopub.sgx.com/FileOpen/FCL_Full...eID=477719
3. http://infopub.sgx.com/FileOpen/FCL_Full...eID=477718

[cyclone]

Frasers Centrepoint Limited and Frasers Commercial Trust to jointly acquire Farnborough Business Park ("FBP")

Highlights :
* 50:50 joint venture between Frasers Centrepoint Limited and Frasers Commercial Trust to acquire Farnborough Business Park for £174.6 million (approximately S$314.8 million)
* FCOT to expand its investment mandate to Europe, with initial focus on the United Kingdom
* High-quality and strategically located business park extends and strengthens FCL Group’s market position in Thames Valley, a prominent business park region west of London
* FBP enjoys high occupancy of 98.1%8 and healthy tenant retention rate of around 89%
* FBP is a defensive asset underpinned by leases with a long WALE of 8.3 years and a diversified tenant base of 36 tenants including well-established corporations such as Fluor Limited, INC Research UK Ltd, Time Inc (UK) Ltd, Aetna Global Benefits (UK) Ltd and a unit of Regus. 

More details in http://infopub.sgx.com/FileOpen/Announce...eID=482049

[cyclone]

Singapore Property Rebound Has Frasers' CEO Chasing More Land

By Krystal Chia  and Pooja Thakur Mahrotri
February 1, 2018, 5:00 AM GMT+8

Singapore’s property rebound has the son of Thai billionaire Charoen Sirivadhanabhakdi chasing more land in the city-state, adding to signs the market is emerging from a four-year slump.

Frasers Property Ltd. in December paid S$955.4 million ($727 million) for a residential site near the Singapore River, a record on a per-square foot basis at a government sale. Chief Executive Officer Panote Sirivadhanabhakdi said his firm is still on the lookout for more land in the city.

“It’s a big appetite that we have taken on,” Sirivadhanabhakdi said last week at a press conference marking the company’s name-change from Frasers Centrepoint Ltd. The developer will “continue to see what we can participate in the bidding,” he said.

More details in https://www.bloomberg.com/news/articles/...-more-land

[cyclone]

Proposed Divestment of interests in 21 Properties in Germany and the Netherlands to Frasers Logistics & Industrial Trust

Frasers Property Limited announced that the Company has on 19 April 2018, through an indirect wholly-owned subsidiary of the Company, Frasers Property Investments (Holland) B.V., entered into a share purchase agreement with FLT Europe Pte. Ltd. (the "Purchaser"), a wholly-owned subsidiary of Perpetual (Asia) Limited, in its capacity as the trustee of Frasers Logistics & Industrial Trust, to sell its entire shareholding interest in FPE Logistics B.V. and assign the inter-company loan owing from FPE Logistics B.V. to the Purchaser for an aggregate consideration of €316.2 million (approximately S$515.4 million).

The Purchase Consideration is subject to further post-completion adjustments (based on the actual consolidated net assets and liabilities of the Dutch Target Company as at the completion of the Transaction).

More details in http://infopub.sgx.com/FileOpen/FPL%20An...eID=499996

[cyclone]

Financial Results for the Second Quarter and First Half ended 31 March 2018("2QFY18" and "1HFY18")

Highlights :
* On a half-year basis, revenue was S$1,582 million compared to S$1,677 million a year ago
* On a half-year basis, PBIT was S$519 million in 1H FY18 vs S$510 million year on year
* Achieved Half Year FY2018 Attributable Profit of S$201 Million
* Earnings anchored by well-balanced and significant base of recurring income assets, which mitigates the inherent lumpiness of development income
* Further strengthened logistics and industrial platforms with enhanced scale and integrated value chain in Australia, Europe and Thailand
* Declared 2.4 Singapore cents interim dividend per share

More details in :
1. http://infopub.sgx.com/FileOpen/FPL_2QFY...eID=504820
2. http://infopub.sgx.com/FileOpen/FPL_2QFY...eID=504821
3. http://infopub.sgx.com/FileOpen/FPL_2QFY...eID=504822

[cyclone]

Response to a Queary from Bloomberg

Frasers Property Limited has received a query from Bloomberg in relation to its property known as "Frasers Tower" at 182 Cecil Street Singapore, and is providing the following response:

"Frasers Property continually reviews opportunities to enhance shareholder value, including potential opportunities to collaborate with new investors and/or divest our interests in projects/assets. In the course of such review, we may from time to time enter into discussions with parties for potential investments in or divestment of our interest in our projects/assets. In this regard, Frasers Property has been in discussions with certain parties who have expressed interest in a stake in the property known as “Frasers Tower” at 182 Cecil Street Singapore. There is no certainty that any transaction would result from such discussions."

[Shiyi]

What did Bloomberg report?
Sale of Frasers Tower?

[cyclone]

Frasers Property to form integrated industrial and logistics operating platform
* Strategic business unit will combine the Group’s industrial and logistics operations in Australia and Europe in FY2020
* New executive leadership team formed, promoting Reini Otter and Matt Knox from the Group’s Australian operations

Frasers Property Limited today announced the formation of an integrated industrial and logistics platform, which will combine its industrial and logistics operations in Australia and Europe, and asset and property management in relation to the Group's Singapore-listed Frasers Logistics & Industrial Trust ("FLT"). The integrated industrial and logistics platform will become a strategic business unit representing SGD $5.4 billion1 assets under management (AUM) with integrated development, asset management and third-party capital management capabilities across the Group’s core industrial and logistics markets in Australia and Europe.

The integrated operating platform is expected to report as a discrete strategic business unit in FY2020. The integrated platform will be led by Reini Otter as Chief Executive Officer and Matt Knox as Chief Financial Officer (CFO), who have both been promoted from Frasers Property’s Australian operations.

More details in https://links.sgx.com/FileOpen/FPL_Press...eID=569502