Frasers Property (formerly: Frasers Cpt (FCL))

[greengiraffe]

Frasers drops Barangaroo bid
THE AUSTRALIAN OCTOBER 23, 2014 12:00AM

Greg Brown

Property Reporter
Sydney

FRASERS Property Australia has bowed out of the race to develop $1 billion of apartment, commercial and civic space at Sydney’s harbourside central Barangaroo.

A spokeswoman for Frasers confirmed that the group this week informed the state-run Barangaroo Delivery Authority that it would not proceed in its bid to develop the precinct.

It is thought that the other short-listed parties, Lend Lease, Cbus Property, Grocon and Mirvac, are still in the running.

The Frasers spokeswoman pointed to a change in circumstances for the group since its parent company, Singapore-listed Frasers Centrepoint, acquired the Australand business in July.

“The group’s priorities in the short-term will be bedding down this major acquisition and setting the strategic agenda for the group in the Australian market,” the spokeswoman said.

On other central Barangaroo parties, Cbus Property has appointed Bates Smart as the designer for its bid.

Central Barangaroo has the potential for about 800 apartments, as well as retail, office space and civic space on Sydney Harbour.

The 3ha site will sit between Lend Lease’s $6bn commercial development at Barangaroo south and the northern precinct, called Headland Park, which is expected to have 6ha of parklands.

Half central Barangaroo will be public space, with a successful bidder to provide plans that would fund the development of recreation and cultural spaces. A winning party is expected to be chosen by mid-2015.

Construction at central Barangaroo is expected to begin by mid-2016 and end by 2021.

[Contrarian]

EGM For Purchase of Australand

http://infopub.sgx.com/FileOpen/Noticeof...eID=320386

[I_love_girls]

With the proposed offering of the perpetual capital securities, the company's net debt-to-total equity post-acquisition of Australand would improve to 83 per cent, compared with the 119 per cent before the proposed offering.

[greengiraffe]

http://cms3.todayir.com.sg/html/client/f...817_en.pdf

Frasers Centrepoint Limited begins integration of Australia business
Singapore, 3 November 2014 – Frasers Centrepoint Limited (“FCL” or the “Company”, and together with its subsidiaries, the “Group”), which recently acquired Australand for A$2.6 billion, today announced that Bob Johnston will lead the combined Frasers Property Australia and Australand businesses; as a consequence, Guy Pahor will be stepping down as Chief Executive Officer of Frasers Property Australia. FCL had announced on 31 October 2014 the completion of the compulsory acquisition of Australand. Australand became a wholly-owned subsidiary of the Group following the compulsory acquisition.
Australand has three operating divisions, namely Residential, Commercial & Industrial and Investment Properties and has over 500 employees across Sydney, Melbourne, Perth, Adelaide and South East Queensland.
FCL Group Chief Executive Officer, Lim Ee Seng said that, as CEO of Frasers Property Australia, Guy Pahor has steered the development of the group through a critical phase and successfully executed on a number of the group’s large, mixed-use urban regeneration projects. These include the iconic Central Park development in Sydney’s southern CBD and Putney Hill, a medium density development located on the former 14 hectare Ryde Rehabilitation Hospital site. Mr Pahor will remain with the Group in an advisory capacity.
– END –

[I_love_girls]

No logic. Why completed the acquisition already still need shareholder's to approve the bid? Cannot straight away incorporate into FCL meh? Furthermore, one Chaoren is enough

[greengiraffe]

They have already stated upfront and got clearance from SGX prior to takeover of Australand.

This is part of the ratification procedures and provide shareholders with opportunities to meet up with a board that has recently been awarded SIAS disclosure awards...

No Worries Buddy

No logic. Why completed the acquisition already still need shareholder's to approve the bid? Cannot straight away incorporate into FCL meh? Furthermore, one Chaoren is enough

[greengiraffe]

Frasers picks Australand boss to lead Australian property business
THE AUSTRALIAN NOVEMBER 04, 2014 12:00AM

Greg Brown

Property Reporter
Sydney
Sarah Danckert

Property Reporter
Melbourne
Australand managing director Bob Johnston after the company's annual results announcement at Radisson Hotel, Sydney CBD.
Bob Johnston is moving from Australand to lead Fraser’s Property Australia Source: News Limited
SINGAPORE-listed Frasers Centrepoint has appointed former Australand Property Group managing director Bob Johnston as the head of its Australian property business.

Mr Johnston will lead the Frasers Property Australia and Australand companies, which are fully owned by Frasers Centrepoint, with Guy Pahor to step down from the role of Frasers’ Australian chief executive. He will stay in the company in an ­advisory role.

The changes in the top echelons of Fraser’s Australian arm come amid speculation the Australand business will be broken up, with the possibility its commercial or industrial business will be spun off into a listed trust.

However, The Australian understands a restructure of the Australand business is not on the cards.

Yesterday, Frasers Centrepoint chief executive Lim Ee Seng praised Mr Pahor’s work as the head of the Australian business. “Guy Pahor has steered the development of the group through a critical phase and successfully executed on a number of the group’s large, mixed-use urban regeneration projects,” Mr Lim said.

Frasers Centrepoint, which is controlled by Thailand’s third-richest tycoon, Charoen Sirivadhanabhakdi, acquired Australand last month on completion of a $2.6 billion hostile takeover at $4.48 a share.

Frasers outbid local giant Stockland, which also made a tilt at the group but instead reaped a quickfire $80 million when selling its 20 per cent stake.

All eyes will be on the form that the Australian arm of Frasers Centrepoint will take. Most analysts told The Australian yesterday that the Australand business was likely to come under the Frasers branding and be led as a singular organisation.

Banking sources poured doubt on plans to spin off parts of the business or the sale of property, though some bankers and analysts believe there is considerable appetite for its industrial business.

It may also look to sell its office portfolio in the medium term. Singaporean-based CIMB analyst Tan Xuan said: “They could look to sell (non-core properties) but the timeframe is uncertain.”

Frasers had a presence in Sydney and Perth, but the Australand business gives it an entry into Melbourne and Brisbane.

Frasers declined to comment on the future of the business. Mr Johnston joined Australand in 2007 after a 30-year tenure at development and construction giant Lend Lease, where he held executive positions based in Sydney, Singapore, Atlanta and London.

Before joining Australand, he was global chief executive of Bovis Lend Lend in London.

Frasers Property Australia has so far mainly focused on residential and hotel developments.

The group’s most ambitious project has been the $2bn Central Park project in Sydney’s inner-city Chippendale. Frasers on Saturday launched sales for the fourth stage of the residential component of the precinct.

http://cms3.todayir.com.sg/html/client/f...817_en.pdf

Frasers Centrepoint Limited begins integration of Australia business
Singapore, 3 November 2014 – Frasers Centrepoint Limited (“FCL” or the “Company”, and together with its subsidiaries, the “Group”), which recently acquired Australand for A$2.6 billion, today announced that Bob Johnston will lead the combined Frasers Property Australia and Australand businesses; as a consequence, Guy Pahor will be stepping down as Chief Executive Officer of Frasers Property Australia. FCL had announced on 31 October 2014 the completion of the compulsory acquisition of Australand. Australand became a wholly-owned subsidiary of the Group following the compulsory acquisition.
Australand has three operating divisions, namely Residential, Commercial & Industrial and Investment Properties and has over 500 employees across Sydney, Melbourne, Perth, Adelaide and South East Queensland.
FCL Group Chief Executive Officer, Lim Ee Seng said that, as CEO of Frasers Property Australia, Guy Pahor has steered the development of the group through a critical phase and successfully executed on a number of the group’s large, mixed-use urban regeneration projects. These include the iconic Central Park development in Sydney’s southern CBD and Putney Hill, a medium density development located on the former 14 hectare Ryde Rehabilitation Hospital site. Mr Pahor will remain with the Group in an advisory capacity.
– END –

[I_love_girls]

What do you all think will be the force to up the share price? It has been like this for very long le! Personally, I think it will be the profit for the year.

[greengiraffe]

http://www.valuebuddies.com/thread-4912-...l#pid98996

Charoen has done well by positioning FCL in the midst of bubbly times Down Under...

Mkt however has no interests whatsoever in the transformation of FCL into an exciting local player that is nimble with substantial interests in quality well regulated overseas market...

Only time will tell if Godfather's and his team's reading is correct...

Vested
Core
GG

[I_love_girls]

Gonna to see 1.550 soon perhaps. Undervalued further