FCL's Aussie unit a potential asset pipeline for Singapore Reit

Singapore

THE recently minted retail business unit of the Australian arm of Frasers Centrepoint Limited (FCL) could potentially provide a pipeline of assets for acquisition by the group's Singapore-listed shopping centre Reit.

It makes sense for Frasers Centrepoint Trust (FCT) - which is running out of malls to buy in Singapore - to acquire malls from Frasers Property Australia (FPA), suggested FCL's CEO, Lim Ee Seng, at a post-results briefing on Monday. However, this is likely to happen only in the medium to long term as it will take time for FPA to build up a portfolio of retail assets.