frasers L&C trust

Frasers Logistics & Commercial Trust grows presence in Europe with 4 property acquisitions

The agreed purchase price of about 294.9 million euros represents a 1.5% discount to their appraised value

OCBC on Monday announced that it agreed to acquire the assets and liabilities of HSBC’s retail and wealth management operations in Indonesia.

Stocks to watch: OCBC, FLCT, Keppel Infrastructure Trust, UltraGreen.ai

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Tuesday (May 5):

Revenue for the half-year period was up 2.8% at S$238.9 million from S$232.3 million in the year-ago period. 

Frasers Logistics & Commercial Trust H1 DPU drops 1.7% to S$0.0295

Distributable income for the period falls 1% to S$111.9 million

The move increases FLCT's exposure in the Netherlands from 5.5% to 6.4%.

FLCT acquires Dutch logistics facility for 43 million euros

The purchase is expected to be accretive to the trust’s distribution per unit

FLCT's adjusted NPI for H2 – which excludes straight-lining adjustments for rental income and adds lease payments of right-of-use assets – is S$164.9 million, up 2.2% from the same period a year earlier.

Frasers Logistics & Commercial Trust H2 DPU drops 11.1% to S$0.0295

Revenue for the period rises 3.7% to S$239.2 million, from S$230.6 million previously

FLCT has acquired an 89.9% interest in four properties in Germany from its sponsor, Frasers Property, including a leasehold asset in Hamburg (above).

FLCT prices S$100 million notes due 2034 at 2.45%

The notes, rated “BBB+” by Fitch Ratings, will be issued on Aug 15 under the Reit’s S$1 billion multi-currency debt issuance programme

Melbourne's CBD office sector has an elevated vacancy level of 18.6%.

FLCT to divest commercial building in Australia for A$192.1 million, exiting Melbourne CBD office market

The trust’s manager says the sector continues to suffer from challenging conditions