Shares & Derivatives
Frasers Centrepoint Trust–Weakness
By Investment Moats  •  October 22, 2013
I have nothing much to add to my original analysis here. This could probably be a good opportunistic holding from time to time. FCT just announced their full year 4th quarter results. Majority of the results look well and good. (Slides here)
  • DPU was up at 2.98 cents in the 4th quarter. They kept their record of increasing dividends
  • Don’t extrapolate and think they will give 2.98 cents base every quarter. Their DPU tends to be staggered. Full year could possibly equate to  11.4 cents next year
  • Majority of the assets (Northpoint and Causeway Point have a 12% upwards revision. This is probably linked to the valuation versus how much the land parcel for the integrated bus interchange and town centre in Yishun to be developed
  • Because of the increase in asset value, the net debt to asset fell to 25.8%. That looks rather appealing ...
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By Investment Moats
Investment Moats is set up by Kyith Ng and have been around since 2005. He aims to share his experiences making sense of money, how money works and ways to grow his money. It hopes that by sharing his experiences, both good and bad, season investors can advice and critique his decisions and new investors can learn from them and find their own style ...
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