FCT posts 2.6% rise in second-quarter DPU

Singapore

RETAIL landlord Frasers Centrepoint Trust (FCT) warned of headwinds in the retail scene even as it reported on Friday a 2.6 per cent rise in distribution per unit (DPU) as well as overall growth in tenant sales and shopper traffic for its malls in the quarter ended March 31.

"The Singapore retail environment continues to be challenging," said Chew Tuan Chiong, CEO of the Reit manager Frasers Centrepoint Asset Management.

"However, we believe suburban retail malls, particularly for the well-located ones, would stay resilient as it…