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Sale of 55 Market Street opens more doors for Frasers Commercial Trust, says DBS

Michelle Zhu
Michelle Zhu7/11/2018 11:16 AM GMT+08  • 2 min read
Sale of 55 Market Street opens more doors for Frasers Commercial Trust, says DBS
SINGAPORE (July 11): DBS Vickers Securities is positive on Frasers Commercial Trust’s (FCOT) recent disposal of its commercial property at 55 Market Street, highlighting the move as one that unlocks value and opportunities for capital recycling.
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SINGAPORE (July 11): DBS Vickers Securities is positive on Frasers Commercial Trust’s (FCOT) recent disposal of its commercial property at 55 Market Street, highlighting the move as one that unlocks value and opportunities for capital recycling.

FCOT is expecting to book a net gain of about $76.5 million once the transaction is completed by end-Aug this year, and intends to use proceeds from the divestment to repay existing debt. While the purchaser of 55 Market Street was not named, DBS understands the buyer is a fund.

The research house is reiterating its “buy” call on FCOT at an unchanged target price of $1.65.

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