Quick one to share my brief thoughts since Frasers Logistics and Commercial Trust (FLCT) (SGX:BUOU) is only sharing a business update this quarter. In short, the logistics business is strong but commercial business is a drag especially in the UK. Financial health is impacted slightly by rising interest rates, but still healthy. Stronger SGD was also a headwind since FLCT mostly holds overseas properties. No distribution announced this quarter, due in the next one (FLCT distributes semi-annually). Despite pandemic tailwinds for the logistics & industrial (L&I) easing, FLCT is still showing resilience. I’m still bullish for now that FLCT can weather a potential recession, but I’m watching UK commercial properties for further signs of weakness which could unravel FLCT’s portfolio. For more details, read: FLCT sees ‘healthy leasing momentum’ in 1QFY2023...