Frasers Property H1 profit down 42.6% to S$158.2m due to previous one-off gain 

FRASERS Property will continue to focus on growing its exposure to the industrial and logistics (I&L) sector as well as commercial and business park assets to capture new economy opportunities over the next 2 years.

Speaking at an earnings briefing on Thursday (May 12) morning, Frasers group chief executive Panote Sirivadhanabhakdi said: “We still see strong tailwinds in industrial and logistics.” Other areas in its portfolio that the group will continue to focus on are commercial office assets “in the right cities at the right location” as well as residential markets in which Frasers has a significant presence and an understanding of local demand and the underlying risks.

As at Apr 19, over S$500 million of an allocated S$700 million for the acquisition, investment and development of I&L and business park assets has been utilised. The S$700 million was set aside from the S$1.16 billion in gross proceeds raised from a rights issue last year.