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FCL to expand footprint in secondary markets

FY16 net profit slipped 22.6% to S$597.2m on lower contributions from Singapore, Australia

Published Wed, Nov 9, 2016 · 09:50 PM

Singapore

IN search of greater diversification, Frasers Centrepoint Limited (FCL) is looking to expand its overseas footprint in its "secondary markets" such as the Indochina region, while not losing sight of its current core markets, Singapore and Australia.

The group shared this in a briefing on Wednesday when it reported a 22.6 per cent slump in net profit for the year ended Sept 30 to S$597.2 million due to lower development revenue in Singapore, and impairment losses in Australian residential projects.

Excluding fair value and exceptional items, FCL would have po…

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