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FCT's increased stake in Waterway Point a positive in analysts' books

Samantha Chiew
Samantha Chiew9/15/2022 02:13 PM GMT+08  • 4 min read
FCT's increased stake in Waterway Point a positive in analysts' books
Analysts are upbeat on FCT's additional stake in Waterway Point. Photo: Albert Chua/The Edge Singapore
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Frasers Centrepoint Trust (FCT) on Sept 12 announced that it will be acquiring an additional 10% stake in Waterway Point for a consideration of $132.3 million. This raises the trust’s stake in the mall located in Punggol to 50.0% from 40.0% previously.

Following this move, analysts are upbeat on FCT’s prospects as this suburban mall seems to be attracting a steady footfall from residents in the area.

CGS-CIMB Research is hence keeping its “add” call with an unchdanged target price of $2.75. Analyst Lock Mun Yee is expecting the acquisition to complete sometime in mid-1Q2023.

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