Frasers Centrepoint Trust Has Scope for Acquisitions -- Market Talk

Dow Jones01-24

0654 GMT - Frasers Centrepoint Trust seems to have scope for acquisitions, with the REIT's gearing falling to 37.2% at end-December from 39.3% at end-September, RHB Research analyst Vijay Natarajan says in a research note. This could allow the REIT to selectively add up to a 10% stake in NEX mall from its sponsor without tapping equity markets, the analyst says. Also, the REIT has managed to increase the fixed-rate proportion of its debt by taking advantage of recent declines in lending rates, the analyst adds. RHB raises the target price to S$2.30 from S$2.12 with an unchanged neutral rating. Units are 1.3% higher at S$2.29. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

January 24, 2024 01:54 ET (06:54 GMT)

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Also, the REIT has managed to increase the fixed-rate proportion of its debt by taking advantage of recent declines in lending rates, the analyst adds. RHB raises the target price to S$2.30 from S$2.12 with an unchanged neutral rating. Units are 1.3% higher at S$2.29. 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This could allow the REIT to selectively add up to a 10% stake in NEX mall from its sponsor without tapping equity markets, the analyst says. Also, the REIT has managed to increase the fixed-rate proportion of its debt by taking advantage of recent declines in lending rates, the analyst adds. RHB raises the target price to S$2.30 from S$2.12 with an unchanged neutral rating. Units are 1.3% higher at S$2.29. 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