- Frasers Centrepoint Trust (SGX:J69U) saw a good set of 1QFY26 operational metrics, with the portfolio returning to near full occupancy. Concerns over the negative impact of the upcoming Johor Bahru–Singapore Rapid Transit System (RTS) are slightly overblown.
- - Read this at SGinvestors.io -
Backfilled Cathay Cineplex locations.
- The Causeway Point space was taken up by SAS Cineplex on a short-term lease (~11 months), while the Century Square space was taken up by Golden Village, with overall rent at similar levels to the previous tenant.
- Management said the short-term lease at Causeway Point was due to its plans for an eventual revamp of the space with a new concept (still in planning stages).
- - Read this at SGinvestors.io -
Asset enhancement initiatives (AEI) to unlock value in NEX.
- The mall will undergo a comprehensive revamp with the conversion of 62,000 sq ft of carpark space into ~44,000 sq ft of retail and office NLA, and also the repositioning of the Isetan space into mini-anchor tenants.
- The estimated capex is S$90m. AEI works will commence in 2Q26 with completion expected by 2Q28 with a 7% ROI target. This comes on the heels of the successful ongoing Hougang mall AEI, which has achieved significant leasing commitments (>80%) at higher rents, and is on track to potentially exceeding the 7% ROI target.
Impact from RTS manageable in the medium term.
- Read more at SGinvestors.io.
