Frasers Property (formerly: Frasers Cpt (FCL))

[thor666]

> One owned by fcl, the other owned by another party

Bro thor666, is that Eric one of the parties that own centrepoint. Is he the Eric Tay from propnex advertising for tenants?

I googled eric tay, can't tell but I don't think is him. The guy came with 2 other elders, presumably his parents.

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[I_love_girls]

When the quarter result will be out?

[piggo]

Not to be cynical here but FCL can lower its gearing rather easily.

Agree with CY09, that the gearing isn't really much of an issue. I presume they'll lower their gearing significantly within the next 2 years, even if they don't, rates aren't going up in the foreseeable future.

What's interesting is how they are planning to diversify the ownership of the company with such a low market valuation. Any ideas? Lofty plans of expanding the commercial/logistic expertise of Australand, succeeding in China, participating in hospitality boom etc. will probably come in much later.

The Eric saga was rather amusing. He got so worked up thinking that profit oriented corporates actually have social responsibilities regardless of what they write in their annual reports. Guess he probably believes that POSB is truly neighbors first, bankers second as well

[thor666]

Frasers Centrepoint Limited will be announcing its results for the first quarter ended 31 December 2014 before the commencement of trading on Friday, 13 February 2015.

That's fast...

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[I_love_girls]

Hopefully it is good

[piggo]

Frasers Centrepoint Limited will be announcing its results for the first quarter ended 31 December 2014 before the commencement of trading on Friday, 13 February 2015.

That's fast...

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They announced results around the same time last year. But they do seem very pleased with Australand's Dec '14 contribution... So am expecting a headline result

[Contrarian]

S$2bn development pre-sales and A$192M recurring profit from investment properties. Of course good results.

Best is launch the industrial REIT ASAP. Easily S$1.5 bn

[I_love_girls]

Wow! Drop by 0.055! Someone accumulating at lower price?

[I_love_girls]

Drop by the amount of the dividend. Correction perhaps

[thor666]

Some post-agm queries I put answered on email. Certainly a very responsive company..

Thanks for your patience.  Please see below response to your questions:

1. With regards to the acquisition of Australand, how is the integration going? Is FCL looking at a loose integration or tight integration of Australand?
FCL is working closely with the existing management team of Australand to review the holding structure of Australand and its assets to determine the optimal structure for the Australand properties under the FCL ownership.  We announced on 3 Nov 14 that Australand MD Bob Johnston will lead our Australia business.  It is our goal to ensure the continuity and strategic alignment of Australand and FCL’s business objectives within the larger group.

2. Are there any considerations to inject Australand assets into the relevant Fraser REITS?
We are studying ways to optimise Australand’s asset holding structure like how we hold our investment properties in our REITs.  Leveraging our REIT platforms to unlock value and capital for FCL, and growing our REITs, have always been part of our corporate strategy.  We will consider the suitability of Australand’s assets for injection into our REITs in the same manner that we consider the suitability of FCL’s assets.  We would like to highlight that as separately-listed entities, the management team and shareholders of the REITs will need to decide on any acquisition of assets from FCL.


3. ON the Annual Report, page 172, under 22(b), the receivables for 2014 had increase from $897,000 to $9,053,000. Would you be able to share the huge jump in long aging receivables?

The receivables are mainly development management fees that are charged to our joint venture company in Australia for our projects there.  Collection is expected by end of this month.

Mod.. If the info here is not suitable to disseminate (there are non shareholders) please let me know. Though I dont think there is much sensitive information.

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