Frasers Centrepoint Trust said its manager, Frasers Centrepoint Asset Management Ltd., has renewed property management agreements (PMAs) for four Singapore malls—Northpoint City South Wing, Northpoint City North Wing, Causeway Point and Waterway Point—with Frasers Property Retail Management Pte. Ltd.
The new terms begin between Mar, 18 2026 and Jul, 14 2026 and run until Mar, 17 2031 or Jul, 4 2031, giving each agreement a five-year duration. Under the PMAs for the three wholly owned assets—Northpoint City South Wing, Northpoint City North Wing and Causeway Point—the property manager will receive per-annum fees of 2.0% of gross revenue, 2.0% of net property income (before the manager’s fees) and 0.5% of net property income in lieu of leasing commissions. It will also be reimbursed for approved staff and project-related costs, and may earn tiered project-management and property-tax savings fees.
For Waterway Point, the manager will be paid 2.0% of gross revenue and 2.5% of net property income per year, with separate reimbursement for approved staffing and other expenses. No additional leasing commissions are payable by the mall’s owner.
Because the property manager is a subsidiary of Frasers Property Ltd., a controlling unitholder of the trust, the transactions are classified as interested-person transactions under Singapore Exchange rules. The aggregate value of such transactions in the current financial year is below 3.0% of the trust’s latest audited net tangible assets, so unitholder approval is not required.
The audit, risk and compliance committee of the manager said the renewals are on normal commercial terms and are not prejudicial to minority unitholders.
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