As mentioned, their debts are mainly long term debts... which mitigates rising interests rates somewhat. Also quality of underlying assets was recently proven by FLT's IPO which was around the same as its valuation.
Anyway just a quick comparison of Capitaland, Frasers and Wing Tai...
[Image: 96Tr9Ff.png]
This is just a rough idea though, extracted the data from IG... so wouldn't expect 100% accuracy!
I was reading the 2016 AR and found this statement on page 71: "Net interest expense for the year amounted to $181million, which includes $39 million that was capitalized as part of Property Under Development".
This would make the interest expense on the P&L statement look much smaller than what it actually is. Is this the usual practice for property developers, i.e. Capitalise part of the interest expense as property under development?
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Subscription Price = 18.00 baht per share.
735,000,000 * 18 = 13,230,000,000.00 baht.
FPHT = Frasers Property Holdings (Thailand) Co., Ltd, a wholly-owned subsidiary of FCL.
Completion of Subscription of Shares in Ticon Industrial Connection PUblic Company Limited
FCL wishes to update that FPHT has on 17 January 2017 completed the acquisition of 735,000,000 New Shares at the Subscription Price under the terms and conditions of the Agreement.
Following the Share Subscription and as the date of this Announcement, FPHT holds approximately 40% of the shareholding in TICON and TICON has become an ssociated company of the Company
Frasers Centrepoint Singapore launches Frasers Tower
Frasers Centrepoint Singapore today launched Frasers Tower, located at 182 Cecil Street.
Frasers Tower is expected to be completed in the second quarter of 2018. The development has a total net lettable area ("NLA") of approximately 663,000 square feet ("sq ft") and comprises a 38-storey Premium Grade-A office tower and an adjacent three-storey cascading retail podium featuring various food and beverage offerings. It is also the first commercial building to be nestled in a park of its own that connects to the Telok Ayer Park.
Mr. Christopher Tang, Chief Executive Officer, Frasers Centrepoint Singapore, said, "Businesses will be attracted to the new landmark as it occupies the prime corridor between the core CBD and upcoming Greater Southern Waterfront development, with complementary retail and lifestyle offerings in the vibrant and dynamic precinct. The appeal of the development is also in its unique blend of workspace and nature designed to inspire a stimulating, innovative and functional work environment. With the reduced office supply in 2018 and beyond, we are confident that demand for Frasers Tower will grow."
More details in
http://infopub.sgx.com/FileOpen/Media%20...eID=438242
Frasers Centrepoint Limited’s 1Q FY17 Attributable Profit up 90% on higher development contributions
* Revenue rose 45% to S$972 million, while attributable profit amounted to S$188 million
* Stronger performance driven by sales and completions of residential units
* Selective investments in secondary markets to position the Group for future growth
* In Singapore, FCL will be launching Seaside Residences at Siglap Road in the second quarter of 2017
* The Group is focused on working towards the expected completion of Northpoint City by the end of 2017
More details in :
1.
http://infopub.sgx.com/FileOpen/FCL_1QFY...eID=438491
2.
http://infopub.sgx.com/FileOpen/FCL_1QFY...eID=438493
Thai Billionaire Charoen Plans $3.5 Billion Bangkok Development
by Pooja Thakur Mahrotri and Supunnabul Suwannakij
April 3, 2017, 1:56 PM GMT+8
Thailand’s richest man, Charoen Sirivadhanabhakdi, is planning a $3.5 billion property development in central Bangkok that will include offices, homes and shopping malls.
Charoen’s TCC Group and its Singapore unit Frasers Centrepoint Ltd. will develop the project, said Panote Sirivadhanabhakdi, group chief executive officer of Frasers Centrepoint. ‘One Bangkok,’ covering 16.7 hectares (41 acres), will be the largest mixed-use development in Thailand, he said.
“We aim to develop this project to be Thailand’s landmark,” Charoen Sirivadhanabhakdi said at a press conference in Bangkok on Monday. “I hope this project will house the headquarters of major global companies which will further expand growth to the country.”
More details in
https://www.bloomberg.com/news/articles/...evelopment
One Bangkok’, Thailand’s largest integrated development, set to transform Bangkok city-centre and become a new global landmark destination
Highlights :
* The project, called ‘One Bangkok’, is the largest private sector property development initiative undertaken in Thailand with an estimated investment value of over US$ 3.5 billion
* One Bangkok will be developed by a joint venture between TCC Assets (Thailand) Co., Ltd., holding 80.1%, and Frasers Property Holdings (Thailand) Co., Ltd. holding 19.9%.
* TCC Group is debuting the nation’s largest integrated district, One Bangkok, a new global landmark destination
* One Bangkok to emphasize people-centric and green-sustainability principles, raising the bar for the city’s future urban development
* One Bangkok, which has a total land area of 104 rai (16.7 hectares), to increase green and open areas in the city centre by 50 rai (8 hectares)
* One Bangkok to reflect Bangkok’s exciting diversity and rich cultural heritage
* Opening 2021
More details in :
1.
http://infopub.sgx.com/FileOpen/Press_re...eID=445916
2.
http://infopub.sgx.com/FileOpen/FCL_Suan...eID=445817