Frasers Centrepoint Trust - CGS-CIMB Research 2022-01-26: Improving Outlook; A More Optimistic 1QFY22 Briefing

Frasers Centrepoint Trust - Improving Outlook; A More Optimistic 1QFY22 Briefing

  • Management sounded more optimistic during the briefing as Singapore moves towards normalisation. Frasers Centrepoint Trust (SGX:J69U) expects shopper traffic and tenant sales to improve further as more workers return to office.
  • Frasers Centrepoint Trust’s portfolio demonstrated resilient occupancy q-o-q. Rental reversion improved in 1QFY22 (Oct 2021 to Dec 2021) vs FY21 as leasing traction remained strong.
  • In view of the rising interest rate environment, Frasers Centrepoint Trust intends to further increase its fixed rate debt proportion.
  • Wisteria Mall and Jcube in Singapore were sold recently but these two malls do not fit into Frasers Centrepoint Trust’s investment focus on prime suburban malls. On this front, Frasers Centrepoint Trust is engaging the prime suburban malls’ owners for potential collaborations.
  • We reduce our DDM-based target price for Frasers Centrepoint Trust as we raise our COE assumption to reflect the rising interest rate environment.

Above is the excerpt from research report by CGS-CIMB.
Clients of CGS-CIMB may access the full report in PDF @

EING Kar Mei CFA CGS-CIMB Research | LOCK Mun Yee CGS-CIMB Research | 2022-01-26
SGX Stock Analyst Report ADD MAINTAIN ADD 2.73 DOWN 2.920

Read also CGS-CIMB's most recent report:
2022-10-27 Frasers Centrepoint Trust - Stable Performance But Still Recovering

Target prices by 3 other brokers at Frasers Centrepoint Trust Target Prices.
Listing of broker reports at Frasers Centrepoint Trust Analyst Report.

Relevant links:
Frasers Centrepoint Trust Share Price History,
Frasers Centrepoint Trust Announcements,
Frasers Centrepoint Trust Dividends & Corp Actions,
Frasers Centrepoint Trust News Articles


SGX Stock / REIT Search


Trust Bank Referral Code