Top Stock Market Highlights of the Week: Frasers Property Limited, Frasers Centrepoint Trust and China’s Reopening
By The Smart Investor  •  January 28, 2023
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...
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By The Smart Investor
The Smart Investor is co-founded by David Kuo, Joanna Sng, and Chin Hui Leong. The company was formed in late 2019 from the ashes of the Motley Fool Singapore. The Smart Investor believes that everybody can learn how to invest, smartly. We aim to educate people on how to invest smartly by providing investing education, stock commentary and market coverage for Singapore and around the world.

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