On 4th February 2025, Frasers Logistics and Commercial Trust shared their 1QFY25 business update. As usual, business updates mainly touched on operational performance with minimal updates on financial performance. Based on the above slide, the key highlights showed that Frasers Logistics and Commercial Trust maintained its positive portfolio rental reversions +21.3% on an incoming rent versus outgoing rent basis (“incoming vs outgoing”) and +41.8% for the average rent of the new/renewal lease as compared to the average rent of the preceding lease (“average rent vs average rent”). Do you know why is positive rental reversion important? Positive rental reversions mean that there is an estimated increase in rent upon lease renewal, especially when the existing gross rent is below the estimated rental value. Positive rental reversions contribute to improved income and stability. Frasers Logistics and Commercial Trust 1QFY25 Debt As observed from the key highlights, Frasers Logistics and Commercial Trust’s aggregate leverage stood at...