Frasers sets sights on overseas expansion
Group hopes to hit 50-50 on Singapore and foreign assets in five years' time
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[SINGAPORE] An aggressive overseas expansion plan is in the works at Frasers Centrepoint Ltd (FCL), which is looking to grow its foreign assets to make up half of the group's overall portfolio, and raise earnings from overseas residential development projects to equal those from its Singapore operations.
The property group, a unit of conglomerate Fraser & Neave (F&N), also wants to reduce its reliance on the development business by raising recurring income from its investment properties.
In an interview with BT earlier this week ahead of its listing on Jan 9, FCL chief executive officer Lim Ee Seng said: "There is an eagerness to grow the business (overseas), more than what we are currently doing. From a strategic point of view, it's necessary to grow business beyond Singapore."
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