Welcome to the latest edition of top stock market highlights. Frasers Property Limited (SGX: TQ5) Frasers Property Limited, or FPL, together with Frasers Centrepoint Trust (SGX: J69U), or FCT, jointly announced that they will acquire a 50% stake in Gold Ridge Pte Ltd, which owns the popular suburban retail mall NEX. Post-acquisition, FCT will own 25.5% of NEX while FPL will own the remaining 24.5%. NEX is located in Serangoon and has seven levels of retail space (332 stores) with a net lettable area (NLA) of 634,631 square feet. The purchase consideration will be S$652.5 million and the property still has 85 years of lease remaining from its 99-year tenure. The net property income (NPI) yield for NEX based on 2022’s NPI is in the high 4% level. The mall enjoys a committed occupancy of 99.9% and has key tenants such as Fairprice Xtra, Isetan (SGX: I15), Food Junction, Shaw Theatres, and Cold Storage Supermarket. Furthermore, the property enjoys excellent connectivity, being close to...