Frasers Centrepoint Trust is likely sharpening its focus on dominant malls, UOB Kay Hian's Jonathan Koh says in a research report. The REIT has unveiled divestment of suburban mall White Sands in Singapore, the analyst notes. White Sands is the smallest mall in the REIT's portfolio and faces competition from Pasir Ris Mall, the analyst says. The divestment strengthens the REIT's balance sheet with estimated net proceeds of 454 million Singapore dollars earmarked for debt repayment. However, the brokerage trims its FY 2027 distribution-per-unit forecast for the REIT by 2.5% due to the divestment. It lowers its target price to S$2.99 from S$3.06, with an unchanged buy rating. Units are 0.4% higher at S$2.26. (ronnie.harui@wsj.com)
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Frasers Centrepoint Trust Likely Sharpening Focus on Dominant Malls — Market Talk
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Frasers Centrepoint Trust is likely sharpening its focus on dominant malls, UOB Kay Hian's Jonathan Koh says in a research report. The REIT has unveiled divestment of suburban mall White Sands in Singapore, the analyst notes. White Sands is the smallest mall in the REIT's portfolio and faces compet…