Frasers Logistics & Industrial Trust

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Financial Results for the Financial Quarter ended 31 March 2018

Highlights :
* FLT declares interim distribution of 3.61 Singapore Cents per Unit, representing uplift of 3.4% from 3.49 Singapore Cents in 1HFY17
* 2QFY18 Distributable Income up 3.2% to A$25.9 million
* 2QFY18 DPU up 3.4% to 1.81 Singapore cents
* WALE of 6.75 years and occupancy of 99.4% as at 31 March 2018
* As at 31 March 2018, FLT’s aggregate leverage was 30.5%
* Total borrowings were A$615 million, 85% of which are at fixed interest rates. The weighted average interest rate for borrowings for 2QFY18 was 2.9% per annum
* Gross revenue grew 6.4% during 2QFY18  to A$43.575 million compared to gross revenue of A$40.939 million for the previous corresponding quarter ("2QFY17")
* Adjusted Net Property Income grew 8.1% during 2QFY18 to A$33.414 million, compared to Adjusted Net Property Income of A$30.906 million for the previous corresponding quarter ("2QFY17")
* Announced proposed acquisition of 21 logistics and industrial properties in Germany and the Netherlands on 20 April 2018.

More details in :
1. http://infopub.sgx.com/FileOpen/FLT_2QFY...eID=504379
2. http://infopub.sgx.com/FileOpen/FLT_2QFY...eID=504380
3. http://infopub.sgx.com/FileOpen/FLT_2QFY...eID=504381

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Issue of  333,199,000 New Units in Frasers Logistics & Industrial Trust Pursuant to the Private Placement

Frasers Logistics & Industrial Asset Management Pte. Ltd., in its capacity as manager of Frasers Logistics & Industrial Trust, announced that 333,199,000 New Units pursuant to the Private Placement will be issued today at the issue price of S$0.987 per New Unit.

With the issue of 333,199,000 New Units pursuant to the Private Placement, the total number of Units in issue will be 1,854,733,376.

The New Units pursuant to the Private Placement will, upon issue, rank pari passu in all respects with the Units in issue on 18 May 2018.

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Frasers Logistics & Industrial Trust To Divest 80 Hartley Street for A$90.5 Million

Frasers Logistics & Industrial Trust ("FLT") announced that it has entered into a conditional sale and purchase agreement today with The Trust Company (Australia) Limited, an unrelated third party, to divest 80 Hartley Street, Smeaton Grange, New South Wales, Australia for A$90.5 million (approximately S$90.5 million).

The proposed divestment is in line with the REIT Manager's proactive asset management and portfolio rebalancing strategies. FLT is expected to recognise an estimated net gain of approximately A$17.7 million (approximately S$17.7 million) over the book value of the Property. 

More details in http://infopub.sgx.com/FileOpen/FLT%20Pr...eID=513069

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FLT to divest Lot 102 Coghlan Road in South Australia for A$8.75 million

Frasers Logistics & Industrial Trust ("FLT") announced that FLT, through its subsidiary, has entered into a sale and purchase agreement with Qube Logistics (SA1) Pty Ltd for the proposed divestment of Lot 102 Coghlan Road, Outer Harbor, South Australia at a consideration of A$8.75 million. The Purchaser is an existing tenant of the Property.

The Consideration represents a 36.7% premium to the Property’s book value of A$6.4 million as at 30 June 2018 and a 26.8% premium to the original purchase price of A$6.9 million at FLT’s initial public offering in 2016. The latest valuation of the Property as at 1 July 2018 was A$6.6 million.

The estimated net proceeds from the proposed divestment is approximately A$8.3 million, after taking into account divestment fees of A$43,750 to be paid to the REIT Manager, outstanding lessor obligations, taxes and other divestment related expenses.

Upon completion of the proposed divestment, FLT’s portfolio will comprise 59 properties in Australia , 17 in Germany and four in the Netherlands, with a total value of approximately A$2.8 billion.

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FLT Acquires Two Prime Properties in Australia for A$62.6 Million

Frasers Logistics & Industrial Trust announced the proposed acquisition of two prime industrial properties in Australia from Frasers Property Australia Pty Limited, a wholly-owned subsidiary of Frasers Property Limited for an aggregate purchase consideration of A$62.6 million. The aggregate purchase consideration was negotiated on a willing-buyer and willing-seller basis and supported by independent valuations by CBRE Valuations Pty Ltd and Urbis Valuations Pty Ltd.

The two properties are respectively located at 3 Burilda Close, Wetherill Park, New South Wales and 103-131 Wayne Goss Drive, Berrinba, Queensland.  

The New South Wales Property is a long leasehold asset with a gross lettable area of 20,078 square metres (“sq m”) and a WALE of 7.0 years as at 30 June 2018. The Queensland Property is a freehold asset occupying a GLA of 19,487 sq m and a WALE of 4.2 years as at 30 June 2018.

The New South Wales Property and Queensland Property are each leased to two individual tenants with average fixed annual rental increments of 3.1% and 3.0% per annum, respectively.

More details in :
1. http://infopub.sgx.com/FileOpen/FLT%20-%...eID=523667
2. http://infopub.sgx.com/FileOpen/FLT_Pres...eID=523668

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FLT to Divest 63-79 South Park Drive in Victoria for A$17.25 Million

FLT, through its subsidiary, has entered into a sale and purchase agreement with Enborne Pty Ltd, for the sale of 63-79 South Park Drive, Dandenong South, Victoria, Australia at a consideration of A$17.25 million.

The Consideration is at 13.1% premium to the Property’s book value of A$15.25 million as at 30 September 2018 and 4.5% premium to the original purchase price of A$16.5 million at FLT’s initial public offering in 2016.

Mr. Robert Wallace, Chief Executive Officer of the REIT Manager, said, “63-79 South Park Drive is an older, non-core manufacturing-suited facility with an imminent lease expiry. The proposed sale of the Property is timely and in line with our proactive asset management and portfolio rebalancing strategies.”

More details in https://links.sgx.com/FileOpen/FLT%20-%2...eID=549327

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Frasers Logistics & Industrial Trust to be included in GPR 250 Index Series

Frasers Logistics & Industrial Asset Management Pte. Ltd., the manager of Frasers Logistics & Industrial Trust (“FLT” and the manager of FLT, the “REIT Manager”), is pleased to announce that FLT will be included as a constituent of the GPR 250 Index Series, comprising the GPR 250 Index and GPR 250 REIT Index, from 23 September 2019.

Both the GPR 250 Index and the GPR 250 REIT Index are published by Dutch-based Global Property Research B.V. (“GPR”). The GPR 250 Index is composed of the 250 most liquid listed property securities in the world, and the GPR 250 REIT Index is a subset of the GPR 250 Index covering all companies having a REIT-like structure. Post-inclusion, FLT will be one of 10 Singapore REITs represented in the index series.

To qualify for inclusion in the two indices, companies must have a free float market cap of at least US$50 million and must derive at least 75% of their operational turnover from property activities. The inception of the indices dates back to 1989. More information on the indices are available on GPR’s website :
https://www.globalpropertyresearch.com/index.aspx

More details in  https://links.sgx.com/FileOpen/Press%20R...eID=578849

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Following its merger with Frasers Commercial Trust, Frasers Logistics & Industrial Trust will change its name to Frasers Logistics &
Commercial Trust wef  04 May 2020.

Press Release: HERE
Announcement: HERE