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Frasers Commercial Trust *Official* (SGX: ND8U)

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Old 23-05-2016, 05:09 PM   #1
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Frasers Commercial Trust *Official* (SGX: ND8U)

Hi friends

I realized there is no official thread on this Reit. It is currently trading at about 0.8x BV with Yield about >7.5%. Anyone has any comment on this Reit? Tks.
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Old 23-05-2016, 07:15 PM   #2
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wah this counter got long history... almost 10 years liao...*grows a beard*
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Old 23-05-2016, 07:16 PM   #3
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I see Punggol waterway damn crowded wanted to buy whichever Reit it is in. But unfortunately not in this Reit leh
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Old 23-05-2016, 07:54 PM   #4
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I see Punggol waterway damn crowded wanted to buy whichever Reit it is in. But unfortunately not in this Reit leh
Probly frasers centrepoint trust in future, not frasers commercial trust...
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Old 23-05-2016, 08:18 PM   #5
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I also like this reit, but took CCT instead because their portfolio over 95% is in singapore....i prefer pure play on assets I can see and touch

FCOT is good too, just that its mix of SG and Aussie, a good pick if u want aussie exposure

however I not familiar with their track record, if any rights or placement done before or not?

for CCT, a rights was done during GFC...

during GFC CCT and CMT price crashed as credit tighten...
Capitaland, CCT, CMT ~ all 3 also did rights issue and was heavily support by garmen/temasek... and shareholders suffered in the GFC as they were cash light... excess rights all kanna makan

for FCOT I dunno.. how their fair during GFC? any rights issue before?
I am vested in this Reit since late 2009. The most significant event is the issuance of the convertible perpetual preferred units. Back then I was into trading (still a bit noob) but in the end kept it for dividends. I bought in at around 0.16 before they did a share consolidation of 5 shares to 1.

You could see their announcements at the IR page for their history.
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Old 23-05-2016, 08:50 PM   #6
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Vested in this reit since Jan 2014. Small stakes cause just started.

Used to be called Allco REIT.
Was playing the huge positive rental reversions for Alexandra Technopark which materialized. Together with STI climbing, could have gotten a chance to exit at 1x PB somewhere in early 2015.

Didn't exit cause i was greedy.

It's a play on Grade B office reits so it is slightly different from CCT, SUNTEC, MCT, K-REIT. Using URA data, it is also slightly less affected by the upcoming supply in CBD, and i will assume lesser impact on rents.

Take it if you like the nature of the properties. Haven't heard them adding any SG property from the mother at all so no catalyst there. But latest addition is the Melbourne Collins one which didn't go through a public rights. iirc, it was a private placement.

Although there is almost no more lease expiry this FY, there is quite a significant % of lease expiry in next FY, including with HP (who has a property going to TOP at the same time under Maple Int in Depot Road). I think this is a big risk to that master lease in Alexandra Technopark.

The final bit to add is the works on China Sq. FCL is developing a Capri there which might add a bit of value to China Sq under FCOT.

Other than the above, the rest of the standard REIT metrics (Debt maturity, WALE, Interest Coverage, All-in Finance Costs) can be found in the recent quarterly report.

Should be able to maintain 2014 DPU easily this year since almost everything is done and dusted. Next year will be key.
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Old 28-07-2016, 09:32 PM   #7
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I am vested in this Reit since late 2009. The most significant event is the issuance of the convertible perpetual preferred units. Back then I was into trading (still a bit noob) but in the end kept it for dividends. I bought in at around 0.16 before they did a share consolidation of 5 shares to 1.

You could see their announcements at the IR page for their history.
Same here. Bought at a super cheap price during the GFC. Took up the rights, skipped the CPPU, and sold off half my stake before consolidation.

I think almost become freehold liao, by the power of CD! Just 2 more years I think.

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Old 20-10-2017, 10:42 AM   #8
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http://www.businesstimes.com.sg/comp...at-241-s-cents
Fri, Oct 20, 2017 - 9:04 AM
Frasers Commercial Trust posts 1.6% dip in Q4 DPU at 2.41 S cents

A LARGER unit base, higher repair rates and lower occupancy rates for its properties resulted in Frasers Commercial Trust's (FCOT) Q4 distribution per unit (DPU) slipping to 2.41 Singapore cents, down 1.6 per cent from a year ago.
FCOT also announced the Urban Redevelopment Authority (URA) had given provisional permission for the trust to undertake a S$38 million renovation of the retail podium of China Square Central at 18 Cross Street.
Overall aggregate DPU for FY2017 remained the same as FY2016 at 9.82 Singapore cents.
Distributable income to unitholders was broadly the same for the fourth quarter ended Sept 30, 2017, as it was at S$19.4 million a year ago, while overall FY2017 distributable income climbed 1.3 per cent to S$78.6 million.
Net property income (NPI) for the year ended Sept 30 was 9 per cent lower from the year-ago period at S$26.74 million, mainly due to higher repair and maintenance works for the Caroline Chisholm Centre in Canberra, Australia, and lower occupancy rates for Alexandra Technopark and China Square Central in Singapore, and Central Park in Perth, Australia.
Gross revenue for Q4 also took a hit, down 2.6 per cent to S$38.31 million, while overall revenue for the year remained broadly in line with FY2016's at S$156.55 million.
Overall NPI for the full year ended September was down 1.5 per cent to S$113.84 million.
NPI for the company's Australian properties increased 2.5 per cent year on year, mainly as a result of the better performance from 357 Collins Street, on the back of higher average occupancy and rental rates, coupled with the stronger Australian dollar, the trust manager said.
As at Sept 30, FCOT's weighted average debt expiry was 2.5 years, and gearing remained at 34.7 per cent.
DPU for the quarter will be paid out on Nov 29, 2017.
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Old 20-10-2017, 02:17 PM   #9
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divested this reit recently, will look to enter again if there is another discount pricing again.
certain economic factors like depreciation of AUD can affect this counter price in short term or when BB sell down, the drop in price can be fast and furious.
if not, might look at healthcare reit instead.
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Old 15-12-2017, 06:50 AM   #10
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https://www.theedgesingapore.com/fra...-park-3148-mil
Frasers Centrepoint and Frasers Commercial Trust acquire Farnborough Business Park for $314.8 mil

SINGAPORE (Dec 14): Frasers Commercial Trust (FCOT) has made the United Kingdom the first stop in expanding its investment mandate to Europe. FCOT and controlling unitholder Frasers Centrepoint Limited (FCL) are jointly acquiring Farnborough Business Park (FBP) for GBP174.6 million ($314.8 m…..


price link:
http://www.shareinvestor.com/fundame...ounter=ND8U.SI
http://www.shareinvestor.com/fundame...counter=TQ5.SI
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Old 15-12-2017, 11:35 AM   #11
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May see rights soon?
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Old 15-12-2017, 02:12 PM   #12
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https://www.theedgesingapore.com/fra...-park-3148-mil
Frasers Centrepoint and Frasers Commercial Trust acquire Farnborough Business Park for $314.8 mil

SINGAPORE (Dec 14): Frasers Commercial Trust (FCOT) has made the United Kingdom the first stop in expanding its investment mandate to Europe. FCOT and controlling unitholder Frasers Centrepoint Limited (FCL) are jointly acquiring Farnborough Business Park (FBP) for GBP174.6 million ($314.8 m…..


price link:
http://www.shareinvestor.com/fundame...ounter=ND8U.SI
http://www.shareinvestor.com/fundame...counter=TQ5.SI
Daddy brought his boy boy to UK to shop for X'mas present....
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Old 18-12-2017, 04:58 PM   #13
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funded partially by equity fund raising: means got rights issue?

if rights issue, is under FCL or Fraser com trust?
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Old 18-12-2017, 05:30 PM   #14
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funded partially by equity fund raising: means got rights issue?

if rights issue, is under FCL or Fraser com trust?
both?

Sent from Samsung SM-J730GM using GAGT
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Old 18-12-2017, 05:43 PM   #15
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Wow... I just visited Farnborough for a trade show in March... it's a very huge place. Their airshow will so be held there. It's right beside e airport.

https://www.theedgesingapore.com/fra...-park-3148-mil
Frasers Centrepoint and Frasers Commercial Trust acquire Farnborough Business Park for $314.8 mil

SINGAPORE (Dec 14): Frasers Commercial Trust (FCOT) has made the United Kingdom the first stop in expanding its investment mandate to Europe. FCOT and controlling unitholder Frasers Centrepoint Limited (FCL) are jointly acquiring Farnborough Business Park (FBP) for GBP174.6 million ($314.8 m…..


price link:
http://www.shareinvestor.com/fundame...ounter=ND8U.SI
http://www.shareinvestor.com/fundame...counter=TQ5.SI
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