Singapore Stock Market News

Frasers Centrepoint Trust - Well-executed

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Publish date: Wed, 23 Jul 2014, 11:04 AM
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FCT continues to deliver robust operating metrics with positive rental reversions of 7.8% coupled with improvement in occupancies. Latest acquisition of CCP will start to contribute next quarter and we forecast 6.7% FY15 DPU growth. In-line results aside, we incorporate CCP acquisition to our numbers, raising DPU by 6-7% and TP to S$2.05. We are cognizant that labour crunch will continue to limit tenant expansion but remain appreciative of FCT's defensive suburban mall earnings and potential future pipeline from new parent TCC. O-PF.
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