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Analysts upbeat on FCT amid improving shopper traffic and tenant sales

Khairani Afifi Noordin
Khairani Afifi Noordin4/28/2022 02:54 PM GMT+08  • 3 min read
Analysts upbeat on FCT amid improving shopper traffic and tenant sales
CGS-CIMB continues to like FCT for its pure exposure to suburban malls which should enable it to outperform peers.
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Analysts at UOB Kay Hian, CGS-CIMB Research, OCBC Investment Research and Maybank Securities are positive on Frasers Centrepoint Trust (FCT) on the back of improving shopper traffic and tenant sales.

In an April 28 note, the OCBC research team which has a “buy” call on FTC says the trust saw a firm rebound in its FY2021 DPU, back to FY2019 levels. This can be attributed to FCT’s portfolio of suburban malls in Singapore which are relatively defensive and resilient in nature.

“Looking ahead, we expect FCT to largely benefit from Singapore’s reopening drive, although more Singaporeans travelling overseas due to pent-up demand could also dampen shopper traffic to its malls, especially during the upcoming and June and December holiday periods,” the analysts add.

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