Frasers Property Limited - CGS-CIMB Research 2023-08-10: Maintaining Financial Flexibility

Frasers Property Limited - Maintaining Financial Flexibility

Frasers Property (SGX:TQ5) | SGinvestors.ioFrasers Property (SGX:TQ5)
  • In its 3QFY23 (Apr to Jun 2023) business update, Frasers Property (SGX:TQ5) reported that it continues to see stable leasing demand for its logistics and industrial (L&I) properties, as well as retail portfolio. Hospitality portfolio continues to be driven by new asset additions and greater operational performance. Residential portfolio remains resilient, with healthy sales in Australia and Singapore.
  • - Read this at -
  • Unbilled residential revenue in Singapore stood at S$0.9bn at end-3QFY23.
    • Parc Greenwich EC was fully sold and is scheduled to complete in 2HFY24F, while Sky Eden @ Bedok has an 82% take-up rate to date.
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    • Residential sales in Thailand was affected by macro developments, and unbilled residential revenue dipped q-o-q to S$0.04bn in 3QFY23.
    • Frasers Property continues to focus on single-detached housing projects in Thailand to capture the affluent market segment, launching Alpina Rama II in 3QFY23.
    • China unbilled residential revenue was stable q-o-q at S$0.8bn in 3QFY23. Frasers Property replenished its residential portfolio with an investment in Songjiang District, Shanghai, and invested in the Upview Hongqiao project in Qingpu District.
  • The I&L portfolio remained robust, with a high occupancy rate of 97.3%-99.5% as at 3QFY23, amid strong leasing activity of 535k sq m in 9M23 in Australia and Europe.
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    Above is the excerpt from research report by CGS-CIMB.
    Clients of CGS-CIMB may access the full report in PDF @

    LOCK Mun Yee CGS-CIMB Research | 2023-08-10

    Previous report by CGS-CIMB:
    2023-02-09 Frasers Property - Resilience In Diversity.

    Price targets by other brokers at Frasers Property Target Prices.

    Listing of research reports at Frasers Property Analyst Reports.

    Relevant links:
    Frasers Property Share Price History,
    Frasers Property Announcements,
    Frasers Property Dividends & Corporate Actions,
    Frasers Property News Articles


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