Basic Profile & Key Statistics
Frasers Logistics & Commercial Trust (FLCT), recently renamed from Frasers Logistics & Industrial Trust (FLT) after merger with Frasers Commercial Trust (FCOT) in April 2020. FLCT invests in Office, Logistics, and Industrial properties. The above sector breakdown is from the latest presentation, weighted by GRI.
Lease Profile
Occupancy is healthy at 97.2%. WALE is long at 5.2 years where the highest lease expiry within 5 years of 15.5% falls in year 2025. Weighted average land lease expiry is long at 89.54 years, this figure is estimated from latest presentation, by valuation.
Debt Profile
Gearing is healthy at 37.4%. Cost of debt is low at 2.1%. Fixed rate debt is low at 55.3% which is favorable in current low-interest environment. Unsecured debt is slightly low at 69.6%. Interest cover ratio is high at 6.7 times. WADE is long at 3.2 years where the highest debt maturity of 26.4% falls in FY2024....