Singapore

THE board of Frasers Centrepoint Ltd (FCL) has approved a potential strategic investment in Golden Land Property Development Public Company (Gold), which is listed on the Stock Exchange of Thailand.

FCL will invest 4.97 billion baht (S$196 million) for the subscription of new ordinary shares in Gold at 7.25 baht per share. This represents a premium of 1.4 per cent over the last closing price of Gold's shares on Nov 6.