Frasers Property (formerly: Frasers Cpt (FCL))

[cyclone]

Just curious:

Is it possible to ban a person forever using IP address or something technical? It's quite obvious a bloke banned has re-emerged using another nick.

While everyone should be given another chance in life, but having the ability to ban a person forever should be more effective in ensuring proper participation in the forums.

Some of the attempts to "manipulate" the investor sentiments as well as vulgarities/defamatory remarks are clearly not very welcome.

The forum software has the ability to ban a person based on IP. For a static IP address this is effective. It is useless if the IPs are varied or dynamic.
I think permanent ban or suspension is the only way now as they resurrect .

[toiletsiao]

http://masnet.mas.gov.sg/opera/sdrprosp....0001647CA/$File/SIP1406004_P_Thames_Prelim(1000)_C.pdf


Fraser Hospitality Trust preliminary prospectus lodged... expect official news this week i guess

[Dividend Warrior]

http://masnet.mas.gov.sg/opera/sdrprosp....0001647CA/$File/SIP1406004_P_Thames_Prelim(1000)_C.pdf


Fraser Hospitality Trust preliminary prospectus lodged... expect official news this week i guess

$0.88 auspicious number.

[toiletsiao]

http://masnet.mas.gov.sg/opera/sdrprosp....0001647CA/$File/SIP1406004_P_Thames_Prelim(1000)_C.pdf


Fraser Hospitality Trust preliminary prospectus lodged... expect official news this week i guess

$0.88 auspicious number.

yeah... thai towkay has a liking for auspicious numbers...

[Art or Science]

Frasers Hospitality on acquisition spree to grow Europe portfolio
It hopes to move fast to set up private equity fund

By
Lynette Khoo
lynkhoo@sph.com.sg   @LynetteKhooBT
print |email this article

Mr Choe: 'The same properties we are seeing right now (in Europe) have dropped quite a bit in prices. The yield now makes sense.' - THE BUSINESS TIMES FILE PHOTO


[SINGAPORE] Frasers Hospitality is on a buying spree to grow its portfolio, even as it is injecting six serviced residences into a hospitality Reit to be listed next month.

It hopes to set up a private equity fund focused on acquiring assets in Europe, where yields are currently the highest among its existing markets.

Another wholly owned unit of Frasers Centrepoint Limited (FCL), Frasers Hospitality Global Limited (FHGL), is also gunning for more acquisitions - not just in serviced residences, but also in hotels, resorts and, down the road, retirement villages.

Choe Peng Sum, the chief executive of both Frasers Hospitality and FHGL, told The Business Times that Frasers Hospitality needs to move fast on the private equity fund.

"We don't have a date yet but suffice to say, we are working hard at it. We hope it will be within this year or next year - not too late because the window is closing on us. Other funds are going in as well," he said in an exclusive interview.

"We see Europe as a potential growth area. Almost three four years ago, the prices were ridiculously high. The same properties we are seeing right now have dropped quite a bit in prices. The yield now makes sense," he added. "That does not mean that later on, we will not set up other equity funds that could be China-centric or Asia-centric."

Frasers Hospitality is building a "hotel residence" in Frankfurt and rebranding an existing hotel in Barcelona under its "Capri by Frasers" brand - a hybrid concept that combines the full range of hotel facilities with the flexibility and conveniences of full serviced residences.

It is undertaking due diligence in Germany's Berlin and Hamburg as well as in Italy, in view of a huge demand for hotel residences in Europe.

Mr Choe noted that there is a surge in the number of companies relocating younger single executives, whom he referred to as "the road warriors", rather than senior executives with families, given shrinking corporate budgets. This is contributing to Capri's popularity, though it just started 11/2 years ago.

The firm has five brands: Fraser Place, Fraser Suites, Fraser Residence, Capri by Fraser and Modena, which is currently focused on China.

Given the parent FCL's plan to beef up its investment properties, FHGL was set up last October with a broader mandate to venture beyond serviced residences.

FHGL could go after greenfield projects, brownfield or half-fitted projects, conversions of office buildings into hospitality assets, or operating hospitality assets.

For a start, FHGL made an A$100 million (S$117.5 million) acquisition of an office building in Brisbane's CBD last year and is converting it into Capri Brisbane. A lacklustre office market and a shortage of hotel supply in Australia has presented such an opportunity for the change in use of office buildings.

Elsewhere, FHGL snapped up the five-star hotel Sofitel Sydney Wentworth for A$202.7 million last month.

Mr Choe noted that Australia remained a "safe market that could stand the test of time" despite recent softness in the mining, oil and gas industries, key pillars of its economy.

Frasers Hospitality's properties in Sydney, Melbourne and Perth are almost full-house now; it still has "some breathing space" before a major industry supply comes onstream. A report this year by Deloitte noted that hotel occupancies in Australia could push further into record territory.

Mr Choe said there are also many heritage buildings in Europe that can be renovated and transformed into hotels or serviced residences.

FHGL will "incubate these assets" and eventually inject them into the hospitality Reit, Frasers Hospitality Trust (FHT), which just lodged its prospectus yesterday. FHT's initial $1.66 billion portfolio consists of six serviced residences from FCL and six hotels from FCL's major shareholder TCC Group.

Mr Choe said Frasers Hospitality remains on track to double its assets to 30,000 rooms in five years. "We would like to add a piece of the jigsaw puzzle that we don't have - that is, the USA," he added. "We are looking aggressively to see how we can enter the market."

 

[Art or Science]

FCL expanding agressively. Hope they can manage this expansion well. Australia, Europe and US next?

[greengiraffe]

FCL is not your ah gong backed type of company. Before Towkay stepped in, FCL was under the stewardship of professional managers and have to adhere to strict discipline in order to ensure that shareholders wealth are not compromised.

Since Towkay took over, there was little changes in the same team that was running FCL business for years.

As indicated in previous interviews, the current team probably has similar mandates but more direct mandate from a controlling shareholder.

Given their REIT platform, it appears necessary for FCL to source of quality assets at acceptable prices for pipeline incubation. The process that we are seeing now should be viewed as aggressive rather than a necessity.

Vested
GG

FCL expanding agressively. Hope they can manage this expansion well. Australia, Europe and US next?

[greengiraffe]

Bids flow for Sydney office tower

GREG BROWN THE AUSTRALIAN JUNE 26, 2014 12:00AM

THE owners of the 34-level Sydney office tower at 201 Elizabeth Street, Dexus Property Group and the Perron Group, have taken steps to open up one of the city’s biggest residential conversion opportunities.

CBRE has been appointed to present the tower to developers that have already shown interest in buying the building, sources say. It is thought that bidders so far have included Chinese developers Poly Group and Greenland, while Singaporean groups Far East Organisation and Frasers Property Australia have also made approaches. The unsolicited bids have ranged from $320 million to $340m.

However, the joint owners have recently struck leases on five-year terms that do not have a development clause.

Sources said the buyer could hold the office building for investment for the medium term.

Dexus confirmed it had fielded unsolicited offers for the tower and it was working with Perron to evaluate the proposals.

CBRE declined to comment.

[greengiraffe]

FCL has been quitely incorporating new investment companies since 11 June 14:

i) http://infopub.sgx.com/FileOpen/Incorpor...eID=301016

http://www.skyscrapercenter.com/chengdu/...gdu/12430/

Fraser Suites Chengdu is presently owned by Yanlord. Could FCL be acquiring it from Yanlord?

ii) http://infopub.sgx.com/FileOpen/Incorpor...eID=301595

Should be a greenfield service apartment in Berlin

iii) http://infopub.sgx.com/FileOpen/Incorpor...eID=301853

Hospitality related but what is ML?

iv) http://infopub.sgx.com/FileOpen/Incorpor...eID=301999

This announcement gave a further clue of ML hotel which is in Sydney but googling hotels in Sydney starting with M still didn't provide much clues

v) http://infopub.sgx.com/FileOpen/Incorpor...eID=303108

This is the latest - Amethyst is a violet variety of quartz

Looks like there are plenty of initiatives on the part of FCL...

[greengiraffe]

Old news but bankers are certainly confident of backing Towkay Charoen...

Frasers Centrepoint mulls Australand debt fund option

Edited by Sarah Thompson, Anthony Macdonald and Gretchen Friemann
290 words
12 Jun 2014
The Australian Financial Review
AFNR
English
Copyright 2014. Fairfax Media Management Pty Limited.
Frasers Centrepoint is mulling whether to entirely debt fund its $2.6 billion cash offer for takeover target, Australand, as the market braces for an imminent exit from rival suitor, Stockland.

According to sources Frasers, a Singapore-listed property company, controlled by Thai billionaire Charoen Sirivadhanabhakdi, has the option to 100 per cent debt fund its buyout with lenders Standard Chartered and Deutsche both committing to stumping up the full cost of the deal.

According to those close to the company, the borrowings may then be paid down by an equity raise or the sale of assets.

Frasers is yet to disclose how it intends to structure its surprise bid for Australand, although its financing firepower has fuelled speculation Stockland will walk as soon as a formal bid is tabled.

Hedge funds are already crawling over Australand's register and they now account for 20 per cent of investors.

Yet while Fraser's financial capabilities are not in doubt, its gearing levels are relatively high with net debt to equity at around 48 per cent.

This number would mushroom on the back of a 100 per cent debt funded acquisition of Australand.

However sources argued the loans would be quickly reduced by an equity raise.