- No financials were provided in the 1QFY26 Frasers Centrepoint Trust's business update. Retail portfolio occupancy was unchanged q-o-q at 98.1% but improved to 99.9% post-1Q26 following the backfilling of cinema spaces at Causeway Point and Century Square.
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The Positives
Portfolio occupancy improved to 99.9% post-1Q26 with healthy operating metrics.
- The cinema spaces at Causeway Point and Century Square have been successfully backfilled by SAS Cineplex and Golden Village, respectively.
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Stable financial metrics.
- In 1Q26, the quarter average all-in cost of debt remained stable at 3.5% q-o-q, with 81.2% of borrowings hedged to fixed rates.
- Aggregate leverage increased slightly from 39.6% to 40.3% q-o-q, reflecting ongoing capex at Hougang Mall. With interest rates still trending lower, the all-in cost of debt is expected to decline further in FY26e, potentially reaching 3.3% (FY25: 3.5%).
The Negative
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