Frasers Property (formerly: Frasers Cpt (FCL))

[AlphaQuant]

However do note that their gearing is above 40%, so this counter is not for conservative investors I guess.

well the blokes have made it quite clear that the aim of spinning FCL from FNN is to enable BOTH parties to tap the capital markets. Looking at the gearing for ThaiBev, i will not be surprised to see these 2 gear up.

The mitigating factor, though, is that the Thais need to channel money up from FNN+FCL, so the alignment of interests with the minority shareholders is there.