SEE:DBS puts a hold on Centurion, but expects a pickup in operations in FY2021
Wong and Tan are upbeat on FCT’s portfolio as they believe flexible work arrangements will see workers spend more time at home or in suburban office locations, which will drive traffic to suburban malls.
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“We expect the phase 3 reopening of the Singapore economy to boost its portfolio performance, especially when rules may be relaxed for atrium sales and higher group sizes to drive sales in the food and beverage space,” the analysts say. In addition, they point out that FCT has more deals in the pipeline with the prospective acquisition of Northpoint City South Wing and further stakes in Waterway Point on the horizon. As at 3.14pm, shares in FCT are trading 3 cents or 1.2% higher at $2.53.