Frasers Centrepoint Trust’s H1 DPU rises 1.4% to S$0.06136

[SINGAPORE] The manager of Frasers Centrepoint Trust (FCT) on Friday (Apr 24) posted a distribution per unit (DPU) of S$0.06136 for its first half ended Mar 31, a 1.4 per cent increase from S$0.06054 in the year-ago period.

The improvements were supported by the strength of FCT’s suburban retail portfolio, said Richard Ng, chief executive officer of the manager.

Ng noted that the trust’s committed occupancy currently stands at 99.8 per cent while rental reversions and tenant sales remain “healthy” across its malls.

For H1, FCT’s shopper traffic rose 1.8 per cent on the year, while its tenants’ sales climbed 3.2 per cent.

The retail portfolio continued to see “healthy leasing demand” in H1, with over 289,100 square feet of new leases and renewals signed up. Average portfolio rental reversion was positive 6.5 per cent.

As part of efforts to refresh its retail offerings, FCT committed 48 new-to-portfolio tenants across its malls during H1, said the manager.

These include Singapore-based Italian dining concept rumeL, Mi Bibimbap and Hoe Nam Vintage.

Revenue for the six months stood at S$221.9 million, 20.3 per cent up from S$184.4 million in the previous corresponding period.

For the half-year, net property income climbed 20.2 per cent on the year to S$160.8 million from S$133.7 million,

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Higher NPI was driven by the acquisition of Northpoint City South Wing and higher passing rents across most malls. However, it was partly offset by the sale of Yishun 10 Retail Podium and asset enhancement initiatives (AEIs) at Hougang Mall.

Distribution to unitholders for the period rose 13.6 per cent year on year to S$125 million, from S$110.1 million.

It will be paid on May 29 after the book closure date of May 5.

As at Mar 31, the trust’s current assets rose to $164.4 million from S$120.6 million as at Sep 31, 2025, while its current liabilities fell to S$221.6 million from S$554.4 million. FCT’s net asset value per unit inched up to S$0.0225 as at end-March, from S$0.0223 as at end-September 2025.

Outlook-wise, the manager expects FCT’s portfolio to remain resilient amid macroeconomic uncertainties.

This is due to its “strong focus on essential trades and services”, alongside the proximity of its malls to populous residential catchments with strong footfall and connectivity to key transport nodes.

“The Singapore suburban retail market is expected to remain supported by resilient demand, underpinned by population growth, rising household income and limited new suburban retail supply,” the manager said.

It intends to continue to drive growth through strategic acquisitions, optimising portfolio performance and targeted AEIs.

Units of FCT ended Thursday flat at S$2.28, before the news.