Frasers Centrepoint Trust (“FCT”) is a Singapore-domiciled retail real estate investment trust (“REIT”). FCT was listed on the mainboard of the Singapore Exchange Securities Trading Limited (SGX-ST) on 5 July 2006. The Manager of FCT is Frasers Centrepoint Asset Management Ltd. (“FCAM”), a division of property company Frasers Centrepoint Limited (“FCL”), which is a wholly-owned subsidiary of Fraser and Neave, Limited.
FCT’s principal activity is to invest in income-producing properties used primarily for retail purposes, in Singapore and overseas. Its primary objectives are to deliver regular and stable distributions to unitholders and to achieve long-term capital growth. The objectives are achieved through a combination of its organic, enhancement and acquisition growth strategies.
At present, FCT’s portfolio comprises five quality suburban malls in Singapore with an aggregate appraised value of $1.8 billion. The five malls are Causeway Point, Northpoint, Bedok Point, YewTee Point and Anchorpoint. FCT’s malls enjoy wide captive markets, good connectivity to public transport network and high occupancy which underpin the resilience and stability of its property income. FCT also owns a 31% equity stake in the Malaysian-listed Hektar REIT that provides steady and accretive returns.
FCT has achieved steady portfolio growth and delivered stable distribution returns to unitholders through successful execution of its growth strategies and prudent capital management. Its total assets grew from S$938 million at its initial public listing to S$1,917 million as at 30 September 2012. Distributions per unit to unitholders also grew steadily from 6.55 cents in FY2007 to 10.01 cents in FY2012, representing a compounded annual growth rate of 8.8% over the six year period.
The Singapore retail sector has historically demonstrated resilience through economic cycles and FCT is well-positioned in this sector to continue to achieve steady growth for its portfolio and returns to its unitholders.