Fraser & Neave (F & N)

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Consortiums jostle for $2.6bn prize
BY:SARAH DANCKERT From: The Australian June 13, 2013 12:00AM
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Work proceeds on the $2.6bn Elizabeth Quay site, one of the city's biggest infrastructure developments. Picture: Daniel Wilkins Source: Supplied
THE Far East Consortium is among the groups vying for the residential and hotel component of the $2.6 billion development of Elizabeth Quay in Perth.

The WA government has reduced the list of around 12 bidding consortiums to just three.

The cull leaves a shortlist that includes a consortium led by Brookfield/Frasers Property Group, another led by Leighton in partnership with Sheraton and a third spearheaded by Hong Kong company Far East Consortium with Ritz Carlton believed to be involved in its tender. Far East Consortium, which has a Melbourne office, is also behind the mega apartment project Upper West Side in the Melbourne CBD, which has more than 2000 apartments. Sources said FEC made its tender through a separate business entity.

FEC did not respond to a request for comment.

The proposals are being tightly guarded by the three consortiums and the state government, with one party referring to the confidentiality agreements as being "encyclopedic".

But the proposals are thought to include a hotel large enough to hold more than 200 rooms with a similarly sized residential tower next door. Fast-growing Perth is well known for its dearth of hotel options, with room rates often cited at up to $500 a night.

Other consortiums previously reported as vying for the contract, including groups led by Lend Lease, Perth-based builder Pindan, and architects Cox Howlett and Bailey Woodland, have not made the shortlist.

Elizabeth Quay is a sprawling development on the Perth waterfront that will also include offices, though the rollout of that part of the development might be slowed after key prospective tenant Chevron signed a 10-year lease at nearby QV1 building.

In a separate segment of the Elizabeth Quay development, Leighton Contractors and Broad Constructions have already won the contract to build roads, an island and a bridge as well as a 2.7ha inlet that will connect the Perth CBD with Swan River.

Last week, it was reported that Brookfield had snared Corrs Chambers Westgarth and Deloitte as major tenants to the developer's Brookfield Place project in Perth. Late last year, Leighton secured Shell Australia as an anchor tenant on its $190m Kings Square project, also in Perth.
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Noticed the following announcement... Worth a note or it is just another announcement ?

Frasers Centrepoint Limited, has incorporated the following indirect wholly-owned subsidiaries in Australia each with an initial issued share capital of A$1:
1. Frasers Brisbane Apartments Pty Limited for the purpose of operating and managing serviced apartments.
2. Frasers Brisbane Management Pty Limited for the purpose of providing trustee and management services.

http://info.sgx.com/webcorannc.nsf/Annou...endocument
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡
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An opportunity to unlock value...Big Grin

F&N may separate property from other operations

SINGAPORE – Singapore’s Fraser and Neave said on Friday it is considering separating its property-related businesses from its soft drinks, food and other operations.

“(F&N) wishes to announce that the company will appoint advisers to study and review alternative strategic options available to the company to unlock shareholder value,” it said in a stock market filing.

http://www.todayonline.com/business/fn-m...operations
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡
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Sure have to explore all avenues to unlock shareholders' wealth since Towkay paid a high price in the takeover.

Moreover, he need to convince many institutions to put in fresh $ in order for him to dilute his F&N stake below 90% for continued listing

Vested
Odd Lots

(28-06-2013, 09:58 PM)CityFarmer Wrote: An opportunity to unlock value...Big Grin

F&N may separate property from other operations

SINGAPORE – Singapore’s Fraser and Neave said on Friday it is considering separating its property-related businesses from its soft drinks, food and other operations.

“(F&N) wishes to announce that the company will appoint advisers to study and review alternative strategic options available to the company to unlock shareholder value,” it said in a stock market filing.

http://www.todayonline.com/business/fn-m...operations
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Any guess on how they will likely go about unlocking value?
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F&N started re-structuring exercise on F&B segment, with appointment of two (2) key executives in F&B segment...

http://info.sgx.com/webcorannc.nsf/Annou...endocument

http://info.sgx.com/webcorannc.nsf/Annou...endocument
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡
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(01-07-2013, 10:29 PM)CityFarmer Wrote: F&N started re-structuring exercise on F&B segment, with appointment of two (2) key executives in F&B segment...

http://info.sgx.com/webcorannc.nsf/Annou...endocument

http://info.sgx.com/webcorannc.nsf/Annou...endocument

Fast hand fast leg... i like
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Further update on the proposed restructuring of the property arm of F&N

Credit: Todayonline http://www.todayonline.com/business/thai...n-s2b-reit

Thai billionaire Charoen said to plan S$2b REIT

SINGAPORE — Thai billionaire Charoen Sirivadhanabhakdi is planning to inject some of his properties in Singapore — including serviced apartments owned by Frasers Hospitality, a wholly-owned unit of his newly acquired Singapore-listed Fraser and Neave (F&N) — into a real estate investment trust (REIT) that could be valued at more than S$2 billion, company sources said.
BY conRAD MARIA JAYARAJ - 4 HOURS 59 MIN AGO
SINGAPORE — Thai billionaire Charoen Sirivadhanabhakdi is planning to inject some of his properties in Singapore — including serviced apartments owned by Frasers Hospitality, a wholly-owned unit of his newly acquired Singapore-listed Fraser and Neave (F&N) — into a real estate investment trust (REIT) that could be valued at more than S$2 billion, company sources said.

The proposed REIT is also expected to include Hotel InterContinental at Bugis Junction and the Suites @ Cairnhill condominium, and may be launched around the first quarter of next year.

With the Frasers Hospitality-owned properties said to be worth some S$1.4 billion, the total size of the proposed REIT with the two additional properties, will amount to more than S$2 billion, the sources said.

As an indication of the value of the properties in Frasers Hospitality, in October of last year, parent F&N received an unsolicited cash offer of S$1.4 billion for Frasers Hospitality from Overseas Union Enterprise, a property affiliate of Indonesia-based Lippo Group. This was in the midst of the takeover offer by Mr Charoen’s family holding company, TCC Assets.

According to the sources, Mr Charoen is also expected to turn the 48-apartment Suites @ Cairnhill condominium into a serviced apartment that will be run by Frasers Hospitality.

Demand for units at the Suites @ Cairnhill, where monthly rents range between S$6,500 and S$16,000, has not been encouraging, sources said, and Mr Charoen believes he can improve yields significantly by converting them into serviced apartments.

And with serviced apartment occupancy levels in Singapore currently running at more than 80 per cent, the proposed conversion makes obvious sense, they said.

As of end last year, Frasers fully owned 11 properties in Melbourne, Beijing, Jakarta, London, Edinburgh, Glasgow, Manila and Singapore, with some 1,900 apartments. It also has a 50-per-cent-stake in Singapore’s first hotel residence, the 313-suite Capri by Fraser in Changi, and an 81-per-cent interest in Fraser Suites Sydney, which has 201 apartments.

There is also talk that Mr Charoen might include some properties he owns in Thailand and elsewhere, such as Australia and the United States, into the proposed REIT. His private property arm, TCC Land, is the largest owner of Marriott International hotels in the Asia-Pacific region as well as landlord of Bangkok’s famous tech-mall Pantip Plaza and Hotel Plaza Athenee in Manhattan.

F&N already has two other REITS in its portfolio — Frasers Commercial Trust, which owns and manages high-end office properties with a combined appraised value of S$1.8 billion, and Frasers Centrepoint Trust, which owns a portfolio of five suburban shopping malls also valued at S$1.8 billion.
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(05-07-2013, 09:03 AM)psolhawk Wrote: Further update on the proposed restructuring of the property arm of F&N

Credit: Todayonline http://www.todayonline.com/business/thai...n-s2b-reit

Thai billionaire Charoen said to plan S$2b REIT

Yes, a good news indeed, but no announcement from SGXWeb yet, so I assume it stays as un-confirmed news...

IMO, the real value to be unlocked should be from F&B segment...
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡
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seems like everyone is rushing out for reits like sph oue fnn, i wonder if investors have so much cash to absorb or not
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