Frasers Centrepoint Trust (FCT) (SGX: J69U) is a retail REIT that owns six malls located in suburban Singapore: Causeway Point, NorthPoint City North Wing, Anchorpoint, Yew Tee Point, Bedok Point, and Changi City Point. As at 30 September 2017, FCT’s total portfolio was valued S$2.67 billion.
Since its listing in 2006, FCT has maintained a solid reputation as a well-managed REIT that pays a stable dividend even during tough retail or economic circumstances. As a matter of fact, FCT has an enviable 11-year track record of paying a growing dividend every year.
With this in mind, I decided to attend the 2018 Frasers Centrepoint Trust AGM to evaluate the REIT’s past financial year’s performance, meet the management, and garner their views on the year ahead.
Here are 10 things I learned from the 2018 Frasers Centrepoint Trust AGM.
1. Revenue fell 1.2% year-on-year to S$181.6 million and …