Frasers Centrepoint Trust

Frasers Centrepoint Trust (FCT) is looking to acquire a one third interest in Waterway Point, a large suburban mall located in Punggol, from its sponser Frasers Property in a S$440.6 million deal, it announced on Thursday. At the same time, FCT is launching an equity fund raising exercise, S$245.3 million of whose total proceeds will go towards partly financing the acquisition. The acquisition of...

Frasers Centrepoint Trust's (FCT) distribution per unit (DPU) edged up 1.8 per cent year-on-year to 3.053 Singapore cents, from three cents previously, for the third quarter ended June 30. Gross revenue rose 10.9 per cent year-on-year to S$48.32 million on the back of higher contributions from three of its larger malls. Meanwhile, net property income was 13.7 per cent higher at S$35 million as revenue...

Two key retail REITs in Singapore have reported higher distributable income to unitholders, on the back of steady tenant sales and rental income. Frasers Centrepoint Trust said its fourth-quarter distributable income was up 0.9 per cent to S$25.7 million, on the back of an average rental reversion of 7.1 per cent for the quarter. Meanwhile, CapitaLand Mall Trust said its third-quarter distributable...

Frasers Centrepoint Trust (FCT) has more than doubled its revenue and asset size since its initial public offering (IPO) in July 2006. In the last eight years, the trust has been able to grow its distribution per unit at an average of 9 per cent per year. FCT said asset enhancement is its biggest engine for growth. For instance, it said the asset enhancement on malls like Causeway Point and...

Changi City Point at Changi Business Park looks set to become the next shopping mall to be acquired by a real estate investment trust. Frasers Centrepoint Trust (FCT) said on Tuesday it has entered into a conditional sale and purchase agreement to buy Changi City Point from Ascendas Frasers Pte Ltd for S$305 million. Ascendas Frasers is a 50-50 joint venture between Ascendas Development and Frasers...

Frasers Centrepoint Trust’s (FCT) first quarter distribution per unit (DPU) increased 9.1 per cent on-year to 2.4 cents from 2.2 cents. That was FCT’s highest ever first quarter DPU. Gross revenue went up 5.8 per cent on-year in the three months ended Dec.31 to $37.9 million, while income available for distribution rose 10.8 per cent on-year to hit $21.8 million. The strong quarterly earnings came...

Frasers Centrepoint Trust (FCT) has posted a 33.3 per cent on-year increase in its third quarter distribution per unit (DPU). The DPU of 2.60 Singapore cents for the April to June period is the highest the trust has ever paid out, up from 1.95 cents distributed in the same period a year ago. Net property income in the period grew 32.1 per cent on-year to S$24.6 million, up from S$18.7...

Frasers Centrepoint Trust (FCT) has posted an 8.8 per cent on-year increase in its fourth quarter distribution per unit of 2.35 cents, the highest it has ever paid out. This follows the re-opening of its biggest asset. Causeway Point registered net property income of S$13.3 million, an increase of 95.6 per cent. This helped lift FCT's gross revenue to S$117.9 million and and net property income to S$82.6...

Frasers Centrepoint Trust, which owns shopping malls in Singapore, said on Thursday it has raised a gross amount of S$66.7 million from the placement of 48 million new units. The trust fixed the issue price at S$1.39 each, at the top of the S$1.35-S$1.39 range. The placement was about 4.1 times subscribed and saw strong participation from more than 30 institutional investors from Asia and Europe, the...

Frasers Centrepoint Trust (FCT) will be acquiring Bedok Point from Woodlands Complex for S$127 million. Woodlands Complex is a wholly owned subsidiary of Frasers Centrepoint Limited. Frasers Centrepoint Limited is a subsidiary of Fraser & Neave Limited (F&N). In statement released Thursday, F&N said the divestment is in line with its strategy of unlocking value from its commercial properties...