CONTRIBUTIONS from Frasers Centrepoint Trust (FCT)'s holdings in associates PGIM Real Estate AsiaRetail Fund (PGIM ARF) helped third-quarter results for the retail landlord, even as it faced lower net property income, higher borrowing costs and an expanded unit base. Read more at The Business Times.
CONTRIBUTIONS from Frasers Centrepoint Trust 's holdings in associates PGIM Real Estate AsiaRetail Fund helped third-quarter results for the retail landlord, even as it faced lower net property income, higher borrowing costs and an expanded unit base.
Meanwhile, Q3 distribution for unitholders expanded 5.8 per cent to S$29.9 million from the previous year, with FCT's investments in PGIM ARF and Hektar Reit in 3Q19 contributing about S$5 million and S$0.8 million respectively to distributions. Non-property expenses of S$11.9 million was S$2.2 million higher than the same period last year, largely from higher borrowing costs from additional borrowings and higher interest rates on loans.
FCT assets include suburban retail properties Causeway Point, Northpoint City North Wing and Yishun 10 Retail Podium, Anchorpoint, YewTee Point, Bedok Point and Changi City Point. A new addition is Punggol's Waterway Point, with the acquisition completed in July.
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