- 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 ...
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)