SINGAPORE (Jan 23): RHB is maintaining Frasers Commercial Trust (FCOT) at "neutral" given portfolio weakness was visible, given four out of FCOT’s six properties registered lower occupancies.
Still, its recent foray into the UK’s business park segment is positive and is likely to help diversify its income, says RHB.
In Dec 2017, FCOT announced the joint acquisition of a 50% stake in Farnborough Business Park (FBP) with sponsor Frasers Centrepoint. The total purchase consideration of GBP174.6 million ($314.8 million) was on par with valuation.
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