Frasers Centrepoint Trust (FCT) is selling White Sands, its shopping mall in Pasir Ris, for $467 million. I hold FCT as one of my larger positions, so a sale like this always gets my attention. Key takeaway This is a good mall sold at a good price, and the money is going to exactly the right place. Here is what I make of it. Background: Frasers Centrepoint Trust Before I get to the sale, below is the context that this piece of news is weighed against. In my opinion, FCT is the closest thing on the Singapore market to a pure play on suburban retail. I like it for the boring reasons: its malls sit next to MRT stations, they serve non-discretionary spending like groceries, food, services and healthcare, and that demand holds up whether the economy is booming or wobbling. White Sands is a textbook example of the type of suburban mall that function as social hubs, sitting right beside Pasir Ris MRT.  ...