Frasers Property

Frasers Property, Hitachi sign $100 mil MOU to drive digital transformation in APAC real estate industry

SINGAPORE (Oct 16): Mainboard-listed Frasers Property is working with Hitachi Asia to drive digital transformation in the real estate industry in Asia Pacific over the next five years.

The two companies have signed a memorandum of understanding (MOU) in a collaboration involving an investment of up to $50 million each.

According to the MOU, the companies will explore opportunities to help accelerate digital transformation for the Frasers Property group and the real estate industry.

Government, businesses lead the way but all must contribute to environmental sustainability: Masagos

SINGAPORE (Aug 27): Minister for the Environment and Water Resources Masagos Zulkifli says Singapore must work together to help mitigate climate change, even as the country explores solutions to adapt to "a new normal".

“Even as we discuss what the government and businesses can do to reduce waste, we must recognise the need for all sectors of society to contribute to our journey towards zero waste and environmental sustainability,” Masagos says at the Singapore Environmental Achievement Awards (SEAA) on Tuesday.

Frasers Property secures Singapore's first green loan with pricing structure linked to BCA Green Mark

SINGAPORE (July 17): Frasers Property says that its wholly-owned subsidiary Frasers Property Treasury has secured a A$750 million ($715.2 million) term loan comprising a A$500 million five-year green loan tranche under the LMA/APLMA Green Loan Principles and a A$250 million five-year tranche.

To promote sustainable practices, the green loan has a reducing pricing structure with interest cost savings from the second year onwards if the green properties maintain the requisite green standards.

Frasers Logistics & Industrial Trust to acquire stakes in 12 properties in Germany, Australia from sponsor for $482 mil

SINGAPORE (July 3): The manager of Frasers Logistics & Industrial Trust (FLT) has announced the proposed acquisition of interests in 12 logistics properties in Germany and Australia from sponsor Frasers Property for a total consideration of A$507.2 million ($481.8 million).

The agreed property purchase price of the nine properties in Germany is approximately €320.3 million ($493.3 million), while the property purchase price of the three properties in Australia is approximately A$125.5 million.

Frasers Centrepoint Trust kept at 'buy' by DBS on strategic transformation

SINGAPORE (June 24): DBS Group Research is reiterating its “buy” call on Frasers Centrepoint Trust (FCT) with a higher target price of $2.85, from $2.60 previously.

Currently, all of FCT’s properties are suburban malls, which have shown to be resilient across market cycles.

However, DBS is positive on FCT’s acquisition of stakes in PGIM’s AsiaRetail fund and Waterway Point as this should transform the group’s growth profile entirely.

With its DPU expected to grow at a 2.8% CAGR over FY18-21, FCT will now count among the fastest-growing REITs.

Frasers Property reports 8.3% higher 2Q earnings of $120.5 mil on Aussie sales and settlements

SINGAPORE (May 3): Frasers Property reported 2Q19 earnings of $120.5 million from a year ago, bringing 1H19 earnings to $266 million, 37.2% higher than a year ago.

Revenue for 2Q19 increased 11.1% to $934.3 million while revenue for 1H19 increased 26.9% to $2.0 billion.

PBIT rose 2.5% in 2Q19 to $283.2 million, bringing 1H PBIT 24.7% higher to $637.6 million.

Frasers Property says the increases in revenue and PBIT were mainly attributable to the timing of sales and settlements of development projects in Australia.

Frasers Property says in talks over potential Frasers Tower stake sale

SINGAPORE (Apr 4): Frasers Property says it has been in talks with certain parties who have expressed interest in acquiring a stake in Frasers Tower located at 182 Cecil Street.

Frasers Property made the disclosure in a regulatory filing after receiving a query related to Frasers Tower from Bloomberg News.

In 2013, Frasers Property paid $924 million or $1,112 psf per plot ratio for the 99-year leasehold, 82,841 sq ft, commercial site. It was where the former Telok Ayer Performing Arts Centre once stood.

Frasers Property is off to a good start for the year

SINGAPORE (Feb 20): CGS-CIMB Research is maintaining its “add” call on Frasers Property with a target price of $2.08, following the announcement of the group’s 1Q earnings results.

Frasers Property reported a 76.1% y-o-y increase in its 1Q19 earnings to $145.6 million, along with a 44.7% jump in revenue to $1.08 billion. Profit before interest and tax (PBIT) was 50.7% higher y-o-y at $354.4 million.

See: Frasers Property reports 76% rise in 1Q earnings to $146 mil

Frasers Property reports 76% rise in 1Q earnings to $146 mil

SINGAPORE (Feb 12): Frasers Property reported a 76.1% rise in 1Q earnings to $145.6 million compared to $82.7 million a year ago.

Frasers Property Australia to acquire The Grove for more than $198 mil: AFR

SINGAPORE (Dec 12): Frasers Property Australia is said to be acquiring Stockland’s The Grove Estate in Melbourne’s west for more than A$200 million ($198 million), according to reports from The Australian Financial Review.

Set to be one of the biggest residential land deals of the year, Frasers is understood to be in exclusive due diligence to take control of the A$700 million partially completed residential community located in Tarneit, Melbourne.

Contracts are also expected to be exchanged before Christmas break.

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