On 25th October 2023, Frasers Centrepoint Trust announced their 2H2023 Financial Results. According to the press release, Frasers Centrepoint Trust had achieved a set of strong FY23 results based on robust operating performance and strategic portfolio re-constitution. Currently, Frasers Centrepoint Trust makes up 5.25% of my stock portfolio. This means I have a major stake on this sub-urban retail REIT.

Frasers Centrepoint Trust 2H2023 Financial Results

In 2H2023, Frasers Centrepoint Trust’s Gross revenue grew 1.8% year-on-year to S$184.1 million. The growth was driven by higher gross rent, atrium and car park income, partially offset by lower contribution from Tampines 1 due to ongoing AEI. Property expenses in 2H2023 rose S$1.9 million or 3.6% year-on-year due to higher utilities expenses, higher repair and maintenance costs, higher staff costs and lower write-back of doubtful receivables. Because of higher interest expense, Frasers Centrepoint Trust’s Distribution Per...