Frasers Property (formerly: Frasers Cpt (FCL))

[greengiraffe]

FCL-FHT-Wentworth EGM circular is out:


http://infopub.sgx.com/FileOpen/FCL_Circ...eID=355229

[greengiraffe]

Well oiled machinery... Towkay slowly unveiling FCL's potential... systematic asset light, recycling of funds from matured assets to new projects with potential... core business and competency building up pipeline for the future... can we expect more?

Patience is GOLD.

Vested
Core Holdings
GG

http://infopub.sgx.com/FileOpen/Australa...eID=355357

10 June 2015
Australand secures major industrial deals in Melbourne
 Australand has secured occupiers for around 200,000 sqm of industrial space in Melbourne in the last six months
 The combined deals valued at approximately $200 million
 The company has secured CEVA Logistics for a 90,000 sqm new warehouse and office facility at West Park
 Other deals involve high profile customers including DB Schenker, Godfreys, Miele, Austrans, MaxiPARTS and Ive Group Australia
Australand has secured CEVA Logistics at its West Park Industrial Estate, recently commencing construction of a new 90,000 sqm campus-style warehouse and office facility for the world leading supply chain company.
The Ceva Logistics deal – one of the largest in Australia in years – takes the total industrial space transacted by Australand in Melbourne over the last six months to around 200,000 sqm, equating to approximately $200 million in value.
The new facility will be the centrepiece of CEVA’s growth plans in Australia and New Zealand once completed in mid 2016. It will have an end value of over $80 million and CEVA has committed to an initial 10 year lease over the site.
Anthony Maugeri, Australand General Manager – Southern Region, said the CEVA deal caps a period of intense industrial activity in Australand’s Melbourne estates.
“We have secured a number of significant deals with some of Australia’s largest industrial occupiers in Melbourne recently, at a time when there’s a relative shortage of good quality industrial space readily available,” Mr Maugeri said.
“It is encouraging to see demand remain resilient given the current economic environment and the shortage of quality industrial facilities available at short notice, particularly in west Melbourne, has supported strong activity in our estates.
“The strategic location of West Park, our capacity to deliver and our longstanding strong relationship with CEVA were the core ingredients in converting this project.”
As the largest CEVA facility in Australia, the new office and warehouse will enable CEVA customers to benefit from excellent access to Melbourne’s road and rail network, the Port of Melbourne and Melbourne International Airport.

[greengiraffe]

Australand coming out on its own as a core business division of FCL. Very interesting presentation... Aussie bubble or not... its your call.

One thing for sure, I think Towkay bought well and ALZ is an important driver for FCL.

Frasers Centrepoint Limited
Australia Business
Overview
10 June 15

http://cms3.todayir.com.sg/html/client/f...003_en.pdf

[greengiraffe]

Fraser Centrepoint bulks up development pipeline with CEVA deal
THE AUSTRALIAN JUNE 11, 2015 12:00AM

Ben Wilmot

Commercial Property Editor
Sydney
Singapore-listed Fraser Centrepoint is bulking up its Australian industrial development pipeline as expectations build that it will spin off its $1.25 billion worth of passive industrial holdings into a new trust.

The company, controlled by Thai ­tycoon Charoen Sirivadhanabhakdi, in April carved a Melbourne office tower out of Australand’s $3bn commercial property trust and sold it into the affiliated Frasers Commercial Trust (FCOT) for $222.5 million.

Frasers, which acquired Australand last year via a $2.6bn takeover, has been flagging its intentions to launch a specialist industrial trust, probably in Singapore, and yesterday unveiled a major industrial property deal.

The company revealed it had struck a precommitment with CEVA Logistics at its West Park Industrial Estate in Melbourne, adding to a series of tenants it has won against stiff competition from local rivals Goodman and Dexus Property Group.

Frasers will shortly begin construction of a new 90,000sq m campus-style warehouse and ­office facility for the supply chain company. The Ceva logistics deal — one of the largest in Australia in years and brokered by Colliers International — took the total industrial space transacted by Australand in Melbourne over the past six months to about 200,000sq m, which equates to about $200m in value.

The new facility will be the centrepiece of CEVA’s growth plans in Australia and New Zealand when completed in mid-2016. It will have an end value of more than $80m and CEVA has committed to an initial 10-year lease.

CEVA has also had a large presence in NSW, particularly in Sydney, where it has facilities at Eastern Creek, Villawood, Moorebank, Banksmeadow and Erskine Park. The company recently extended the lease over 30,000sq m at Erskine Park for five years and also took another five years at Villa­wood.

Australand general manager, southern region, Anthony Maugeri, said the CEVA deal capped an intense period of industrial activity in Australand’s Melbourne estates at a time when there was a shortage of quality industrial space readily available.

The Australian flagged CEVA’s investment last month and Australand has also won commitments from Schenker, Miele, Austrans, MaxiPARTS, Godfreys and Cosmic at its parks. But much of the focus is on the new fund.

Macquarie’s Singaporean REIT team this week said a potential spin-off of Australand’s industrial portfolio into a separate ve-hicle was a key catalyst for Frasers.

Australand had an industrial portfolio worth about $S1.3bn ($1.24bn) spanning 38 sites across Victoria, NSW and Queensland that could be crystallised into a public REIT.

Well oiled machinery... Towkay slowly unveiling FCL's potential... systematic asset light, recycling of funds from matured assets to new projects with potential... core business and competency building up pipeline for the future... can we expect more?

Patience is GOLD.

Vested
Core Holdings
GG

http://infopub.sgx.com/FileOpen/Australa...eID=355357

10 June 2015
Australand secures major industrial deals in Melbourne
 Australand has secured occupiers for around 200,000 sqm of industrial space in Melbourne in the last six months
 The combined deals valued at approximately $200 million
 The company has secured CEVA Logistics for a 90,000 sqm new warehouse and office facility at West Park
 Other deals involve high profile customers including DB Schenker, Godfreys, Miele, Austrans, MaxiPARTS and Ive Group Australia
Australand has secured CEVA Logistics at its West Park Industrial Estate, recently commencing construction of a new 90,000 sqm campus-style warehouse and office facility for the world leading supply chain company.
The Ceva Logistics deal – one of the largest in Australia in years – takes the total industrial space transacted by Australand in Melbourne over the last six months to around 200,000 sqm, equating to approximately $200 million in value.
The new facility will be the centrepiece of CEVA’s growth plans in Australia and New Zealand once completed in mid 2016. It will have an end value of over $80 million and CEVA has committed to an initial 10 year lease over the site.
Anthony Maugeri, Australand General Manager – Southern Region, said the CEVA deal caps a period of intense industrial activity in Australand’s Melbourne estates.
“We have secured a number of significant deals with some of Australia’s largest industrial occupiers in Melbourne recently, at a time when there’s a relative shortage of good quality industrial space readily available,” Mr Maugeri said.
“It is encouraging to see demand remain resilient given the current economic environment and the shortage of quality industrial facilities available at short notice, particularly in west Melbourne, has supported strong activity in our estates.
“The strategic location of West Park, our capacity to deliver and our longstanding strong relationship with CEVA were the core ingredients in converting this project.”
As the largest CEVA facility in Australia, the new office and warehouse will enable CEVA customers to benefit from excellent access to Melbourne’s road and rail network, the Port of Melbourne and Melbourne International Airport.

[greengiraffe]

Big warehouse on the way
Larry Schlesinger
320 words
11 Jun 2015
The Australian Financial Review
AFNR
English
Copyright 2015. Fairfax Media Management Pty Limited.

Australand has secured a 10-year lease deal with global supply chain giant CEVA Logistics to occupy a 90,000-square-metre warehouse and office facility at its West Park Industrial Estate in Derrimut in Melbourne's western industrial area.

The facility, which has an end value of $80 million, is under construction and due for completion in mid-2016.

The deal takes total new industrial space transacted by Singapore-owned Australand over the past six months to about 200,000 square metres with an end value of about $200 million.

Other pre-commitments negotiated by Australand in Melbourne include a 14,330-square-metre speculative facility for logistics group Schenker in a deal valued at $14.3 million, a 15,000 sqm pre-lease for domestic appliance maker Miele at its The Key estate valued at $17 million, an Austrans pre-lease for 14,570 sqm at West Park and a MaxiPARTS facility covering 12,505 sqm.

"We have secured a number of significant deals with some of Australia's largest industrial occupiers in Melbourne recently, at a time when there's a relative shortage of good quality industrial space readily available," said Anthony Maugeri, Australand general manager, southern region.

"It is encouraging to see demand remain resilient given the current economic environment and the shortage of quality industrial facilities available at short notice, particularly in west Melbourne, has supported strong activity in our estates."

Mr Maugeri said Australand would continue to employ its speculative development strategy where it makes sense to do so.

Sean McMahon, Australand's executive general manager, commercial and industrial, said the Melbourne industrial market remains the most affordable market in Australia, up to 30 per cent cheaper than the other capital cities.

"The relative affordability of quality industrial space in Melbourne continues to attract a broad array of international logistics and domestic industrial occupiers," he said.


Fairfax Media Management Pty Limited

Document AFNR000020150610eb6b0001o

[greengiraffe]

Centre caters for population growth

By Niki Burnside
280 words
11 Jun 2015
Northern News
FNONRH
English
Copyright 2015 Fairfax Media Publications Pty Limited.

MORE than 3000 people turned out for the opening of The Ponds Shopping Centre on Saturday.

The $40 million centre is a major piece of infrastructure built to cater to The Ponds, one of western Sydney's fastest growing neighbourhoods.

"The opening of The Ponds Shopping Centre is an important milestone," Australand retail general manager Peri Macdonald said.

"It really completes the community hub. It's the last piece of major community infrastructure for the whole Ponds estate.

"It provides the retail infrastructure that hasn't been within The Ponds until now . . . Now they've got the best quality convenience retailing in the business hub."

The centre includes a mix of retailers with a focus on fresh food, dining and everyday needs, Mr McDonald said.

"Over 800 jobs have been created for the local community prior to, during and after completion," he said.

The centre was overwhelmed with visitors, forcing management to close the parking lot because of high numbers.

But Mr MacDonald said this was not likely to be an ongoing difficulty.

"The opening day was always going to be like that," he said.

Entertainment was on offer from the Minions, as well as face painting, a jumping castle, roving characters, a Pirate and Mermaid show and shopping bags filled with discount vouchers from the retailers.

The Ponds Shopping Centre is in the middle of the suburb and next door to John Palmer Public School and The Community Resource Hub.

It is the first retail project in Australia to receive a 6 Star Green Star - Retail Centre Design VI sustainabity rating.


Fairfax Media Management Pty Limited

Document FNONRH0020150610eb6b0000n

[greengiraffe]

FCL, L&T maintain BUY:

Frasers Centrepoint Ltd ($1.80, up 1.5 cent)’s wholly owned subsidiary,
Australand has secured supply chain company - CEVA Logis? cs as a
tenant for its 90,000 sqm campus-style warehouse and offi ce facility
at its West Park Industrial Estate. The Ceva Logis? cs deal, one of the
largest in Australia in years, takes the total industrial space transacted by
Australand in Melbourne over the last six months to around 200,000 sqm,
equa? ng to about $200 mln in value.
The new facility, which only recently started construc? on, is expected to
be completed in mid 2016. It will be the centrepiece of CEVA’s growth
plans in Australia and New Zealand with an end value of over $80 mln
and CEVA has commi? ed to an ini? al 10 year lease over the site. Given
its strategic loca? on, the new offi ce and warehouse will enable CEVA
customers to benefi t from excellent access to Melbourne’s road and rail
network, the Port of Melbourne and Melbourne Interna? onal Airport.
Looking ahead, leasing demand should remain resilient underpinned by
the current economic environment and the shortage of quality industrial
facili? es available at short no? ce, par? cularly in west Melbourne. We
note that Australand has also secured a number of signifi cant deals with
some of Australia’s largest industrial occupiers in Melbourne, which has
supported strong ac? vity in its estates.
CEVA’s commitment represents the culmina? on of an ac? ve few months
for Australand and the West Park estate, where Australand has just
converted a 14,330 sqm specula? ve facility for long term customer
Schenker in a deal valued at $14.3 mln. In addi? on, the company will
con? nue to employ its specula? ve strategy where appropriate by
leveraging on its unique benefi t of an industrial land bank focused in
Melbourne’s key industrial sub-markets.
Meanwhile, management has no? ced the pre-lease market is beginning
to unlock again amid signs that leasing ac? vity has picked up and occupiers
are willing and able to forecast their accommoda? on needs out a bit
further. Despite elevated incen? ves, the Melbourne industrial market s? ll
remain the most aff ordable market in Australia, 20-30% cheaper than the
other capital ci? es.
The rela? ve aff ordability of quality industrial space in Melbourne
con? nues to a? ract a broad array of interna? onal logis? cs and domes? c
industrial occupiers alike. Australand has a strong market posi? on in
Melbourne par? cularly focused in the west and south east, and it is also
well-posi? oned with its land banks to convert new demand as it emerges.
Trading at 0.8x P/B coupled with yield of 4.8%, we con? nue to maintain
our Buy ra? ng on FCL.

[I_love_girls]

For a news of divestment which is part of UNLOCKING VALUE, the share price increases about 0.050.

Vested

[CityFarmer]

Moderator log:

I have removed few posts, which targeted on person, rather on company topic

I have also sent official warning to a member, for one-liner posts of price info. He continue to do so, even after reminders.

Thank you

Regards
Moderator

[greengiraffe]

FCL, cimb maintain ADD:

On the ground down under
Our visit to Frasers Australand’s projects in Sydney and Melbourne and our
meeting with senior management reaffirmed our view that this strategic
acquisition will provide the group with a deeper recurrent income base as well
as development growth via a large residential landbank and strong market
positioning within the industrial sector. This enables FCL to achieve both scale
and depth in Australia. We continue to like FCL for its attractive valuations
and maintain an Add rating with a target price of S$2.02 (30% discount to
RNAV). The key share price catalyst would be an increase in its low free float.
What Happened
We visited some of Frasers Australand’s projects in Sydney and Melbourne and
met with senior management. Management indicated that integration of
Frasers Property Australia and Australand is largely completed, with both
systems to be fully integrated by the later part of this year. The possibility of
rebranding is still being evaluated. While recurrent income remains key to the
FCL group, Frasers Australand is looking to ramp up the development portion
of the business (residential and commercial & industrial “C&I”) to 50% of asset
value from the present c.40% as accelerated residential and industrial
development activities consume its landbank. Based on the current
development pipeline, these two segments are projected to have a total end
value of S$9.7bn vs the current value of S$2.4bn. Residential demand is
supported by low interest rates and undersupply in Sydney and Melbourne
while renewal and relocation demand from retail and logistics players
underpins appetite for industrial space.
What We Think
We see potential synergies being derived from the extension of its skillset from
expertise in developing high-density projects to designing, planning and
building low-and-medium-density housing and land lots within masterplanned
developments. In addition, FCL’s expertise in retail space management could
also mean more opportunities in this mixed use market segment. Having a
strong market position within the industrial space would enable the group to
offer a network of locations to support tenant growth and leasing or
development appetite.
What You Should Do
We maintain an Add on FCL as the stock is trading at a steep discount of 38%
to its RNAV of S$2.88. The stock offers 13% upside to our RNAV-based target
price of S$2.02. The key catalyst would be an increase in the stock’s low free
float.