Prudence the key to FCT's stability
Its suburban malls strategy and low gearing cited for Reit's resilience
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[SINGAPORE] When speaking to the CEO of Frasers Centrepoint Trust's (FCT) manager Chew Tuan Chiong, one senses the caution and prudence with which he runs the suburban retail real estate investment trust (Reit).
Not surprisingly then, he is incredibly proud of the stability of his Reit, which has delivered higher gross revenue, net property income and distribution per unit every year since its listing in 2006 - a momentum unbroken even during the 2007-2008 global financial crisis.
Dr Chew attributed the Reit's resilience partly to its portfolio of wholly suburban malls.
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