Wednesday, October 27, 2010

Fraser Centrepoint Trust (FCT)

Fraser Centrepoint Trust (FCT) to buy Bedok point from parent co. Fraser and Neave (F&N) by 2Q next year according to CEO Chew Tuan Chiong. The acquisition is likely to be funded by a mix of debt and issuance of new units. The indicative price range is $120-140m but the final price has not been fixed. The mall has an occupancy ratio of 99% compared to FCT’s current 98.1%...

FCT announced a DPU of 2.16 cent yesterday 6% increase qoq. The increase was attributed to acquisitions Northpoint 2 and YewTee Point and a revamp of older portion of Northpoint.

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