Frasers Property’s big asset shuffle: Controlling shareholder helping it drive value and stay listed

[SINGAPORE] When Frasers Property (FPL) made its first offer for Frasers Hospitality Trust (FHT) back in 2022, this column suggested that the group ought to consider organising a privatisation deal for itself too.

After reading the recently announced optimisation plan for the properties held under FHT – which FPL succeeded in taking private on its second attempt last year – it seems that the group’s controlling shareholder is more interested in improving the market value of the Singapore-listed property developer than taking it private.

That is not a bad thing, of course – but it could mean that investors will be left waiting a long time for the latent value within FPL to be fully realised.