A S$1.58 billion merger between Frasers Logistics & Industrial Trust (FLT) and Frasers Commercial Trust (FCOT) has been proposed by the managers of both real estate investment trusts (Reits). The proposed deal will be by way of a trust scheme of arrangement, which will see FLT acquiring all units of FCOT for about S$1.54 billion, the managers said on Monday in a bourse filing. FLT will pay the scheme...
British and Malayan Trustees as the trustee of Frasers Commercial Trust (FCOT) has entered into an agreement for the sale of a commercial property at 55 Market Street, in Raffles Place for a sale consideration of S$216.8 million. Manager of the trust, Frasers Commercial Asset Management Ltd, said the transaction is expected to be completed by Aug 31, 2018. The sale consideration of S$216.8 million is...
Frasers Centrepoint Asset Management (Commercial), the manager of Frasers Commercial Trust (FCOT), is seeking unitholder's approval for the proposed sale of KeyPoint, its property at Beach Road, to Bayfront Ventures for S$360 million. It is also seeking a mandate to buy back units of FCOT in the future without prior approval of unitholders. Mr Low Chee Wah, chief executive officer of FCOT, said: "The...
The Urban Redevelopment Authority (URA) has granted Frasers Commercial Trust (FCOT) an Outline Planning Permission (OPP) for the redevelopment of KeyPoint building, located at 371 Beach Road, into a commercial and residential development. The OPP was granted subject to key terms and conditions, such as the re-zoning of the lot on which the property is situated from commercial to mixed commercial and...
Frasers Commercial Trust (FCOT) has announced a distribution per unit (DPU) of 0.25 Singapore cent for its first quarter ended December 31. This is a 4.2 per cent increase compared to the year-ago DPU, said FCOT. Total distributable income grew 4.1 per cent S$12.6 million as net property income dropped 2.4 per cent to S$22.9 million and gross revenue fell 2.3 per cent to about S$29 million. FCOT said...
Frasers Commercial Trust has posted a 55 per cent increase in its fourth-quarter distribution per unit to 0.31 cents. This is in line with its higher distributable income which rose 78 per cent to S$14.2 million. For the three months ended September 30, Frasers saw net property income rise by 16 per cent to S$23.2 million. Revenue increased 14 per cent to S$29 million. This was partly due to better...
Frasers Commercial Trust on Wednesday announced a distribution per unit of 0.25 cents for the fiscal third quarter. This is an increase of 39 per cent compared to a year ago. Meanwhile, net property income for the period grew 33 per cent to S$22.7 million and distributable income rose 39 per cent to S$7.7 million. The growth was mainly due to contributions from Alexandra Technopark, the strengthening of...
Frasers Commercial Trust (FCOT) announced a second quarter distribution per unit (DPU) of 0.32 Singapore cents for the period ended March 31. That is 78 per cent higher from the 0.18 cents in the same quarter last year. The growth came on the back of a 167 per cent increase in total distributable income to S$14.5 million from S$5.42 million from the second quarter last year. However, distributable...
Frasers Commercial Trust (FCOT) announced on Friday a third quarter distribution per unit of 0.2 cent. That is 26 per cent lower than the 0.27 cent DPU for the same period last year, after making adjustments for a rights issue. Distributable income for the period ended in September fell by 24 per cent on-year to S$6.14 million, though it was up by 10.4 per cent when compared to the previous quarter. Net...
Frasers Commercial Trust, Singapore’s third-biggest office property trust, said it plans to buy an office building in the city-state and raise $888.9 million to repay maturing debt. The trust obtained $675 million in two loans and plans to raise $213.9 million selling stock in a three-for-one rights offer, it said in a statement today. Frasers Commercial will offer 2.25 billion shares at 9.5 cents...
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