Frasers Centrepoint may inject revamped Centrepoint mall into REIT
By Dow Jones / Dow Jones | March 19, 2015 : 2:57 PM MYT
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SINGAPORE (Mar 19): RHB thinks that Frasers Centrepoint Limited could inject its Centrepoint Mall to its real estate investment trust – Frasers Centrepoint Trust – after the shopping mall at Singapore's prime locality is refurbished, and achieves performance stability in three years.
The brokerage’s note comes a day after Frasers Centrepoint said it would spend $50 million to revamp the 32-year-old mall over the next 16 months, to attract more shoppers and families.
“We think that the major refurbish is in sync with the group's strategy to improve shoppers' quality of shopping experience, providing better tenant mix and ambience for both shoppers and tourists,” RHB analysts wrote in a note to investors.
The brokerage does not have a rating for the stock as yet.
Frasers Centrepoint Limited and Frasers Centerpoint Trust are up 1 cent and 2.5 cents to $1.735 and $2.02 as at 2:57 p.m.