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Frasers CentrePoint Trust
25-01-2016, 01:24 PM. (This post was last modified: 25-01-2016, 01:25 PM by corydorus.)
Post: #81
RE: Frasers CentrePoint Trust
(25-01-2016, 01:08 PM)swakoo Wrote:
(11-12-2015, 09:49 AM)zerobeta Wrote: They are planning to acquire assets in Australia, share price tanked over the past week
http://sbr.com.sg/commercial-property/ne...pansion-ji

this is certainly not welcoming as we know the strength of FCT lies from its conservative balance sheet and defensive nature of its portfolio... I wonder what's the motive behind this....

At the AGM last week, the CEO guided that if they diversify outside Singapore, they plan to keep Sgp assets as a core of not less than 80%.

The timing is perfect for Australia as the AUD currency is at very weak level. There is also room for gearing and SG Macro is going through a rough patch.
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26-02-2016, 05:24 PM.
Post: #82
RE: Frasers CentrePoint Trust
Just went to Changi City Point today. Cold Storage supermarket is moving out.
Dont know if this is old news.
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"... but quitting while you're ahead is not the same as quitting." - Quote from the movie American Gangster

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26-02-2016, 10:30 PM.
Post: #83
RE: Frasers CentrePoint Trust
(26-02-2016, 05:24 PM)opmi Wrote: Just went to Changi City Point today. Cold Storage supermarket is moving out.
Dont know if this is old news.
Not sure about the freshness, but definitely not positive news  Confused

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28-02-2016, 10:56 PM.
Post: #84
RE: Frasers CentrePoint Trust
(26-02-2016, 05:24 PM)opmi Wrote: Just went to Changi City Point today. Cold Storage supermarket is moving out.
Dont know if this is old news.

Thanks for the anecdotal observation - one of the advantages of analysing shopping mall reits is that one can literally go and get a feel for how the business is doing.

The occupancy at end 2015 was just 88.6%. Right now the adjacent Expo station is on a spur line off the East-West line, running from Tanah Merah to Changi Airport - see map below. Hence though on an mrt line, connectivity is not great and patrons are probably mainly Expo visitors or Changi Biz Park people only. And the upcoming Jewel at T3 will provide potential competition though it is likely targeted at a different crowd.

However next year when the DTL3 opens, connectivity will be much improved with potential traffic coming from SUTD and housing estates to the north - see map below. Last quarter, the rental reversion for 21.1% of the mall NLA (25 contracts; 43,627 sq ft) was a whopping 15.4% in spite of the weak retail and economic environment. Perhaps, a sign of tenants looking out to the improved connectivity in 2017.

Further down the road, the DTL3 extension running south to Xilin and Sungei Bedok is slated to open in 2024 and will further improve connectivity with Expo being connected to the east coast areas (which are served by the final phase of the Thomson East Coast line) - see map below. This should open up a whole new set of visitors.

[Image: 1800px-Singapore_MRT_and_LRT_System_Map.svg.png]

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16-05-2016, 10:46 AM.
Post: #85
RE: Frasers CentrePoint Trust
Earlier this year the share price tanked after FCL comment that Australia malls maybe injected into FCT.
now the CEO of FCT himself who said that FCT is going to expand into Australia.
http://www.straitstimes.com/business/com...o-cut-risk

Share price hasn't reacted so far...

also I would like to know, do unitholders get to vote to block/ allow any plans of acquisition/ divestment? What is the required % of vote to allow such plans to go through? FCL basically is the largest shareholder of FCT (~40%), and they may hold more shares through other nominees.

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