FCL's Aussie unit a potential asset pipeline for Singapore Reit
But acquisitions likely to happen only in the medium to long term
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.
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