Frasers Centrepoint Trust - RHB Invest 2024-01-25: Acquisition Of Additional Stake In NEX Mall

Frasers Centrepoint Trust - Acquisition Of Additional Stake In NEX Mall

Published:
Frasers Centrepoint Trust (SGX:J69U) | SGinvestors.ioFrasers Centrepoint Trust (SGX:J69U)

Acquisition of additional 25% effective interest in NEX

  • Frasers Centrepoint Trust's announced the acquisition of additional 25% effective interest in NEX from the sponsor for S$523.1m – this takes Frasers Centrepoint Trust’s overall interest in the asset to 50%.
  • - Read this at SGinvestors.io -
  • We like this acquisition, as it provides earnings stability, diversification, and economies of scale in the longer run.
  • NEX is currently fully occupied (99.9%) and upside potential is seen via reconfiguration of tenant space, asset enhancements, and low occupancy costs offer potential for healthy positive rent reversions.

Mildly DPU accretive, but huge upside potential if tax transparency status is achieved.

  • Read more at SGinvestors.io.





Vijay Natarajan RHB Securities Research | https://www.rhbgroup.com/ 2024-01-25



Previous report by RHB:
2024-01-23 Frasers Centrepoint Trust - Healthy Operational Performance.

Price targets by 3 other brokers at Frasers Centrepoint Trust Target Prices.

Listing of research reports at Frasers Centrepoint Trust Analyst Reports.

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





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