Latest news with #FrasersHospitalityTrust
Business Times
6 days ago
- Business
- Business Times
Stocks to watch: CICT, CapitaLand Ascendas Reit, Lendlease Global Commercial Reit, Frasers Hospitality Trust, Sunpower
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Tuesday (Aug 5): CapitaLand Integrated Commercial Trust : The trust posted a 3.5 per cent rise in distribution per unit (DPU) to 5.62 cents for the first half of 2025. This rise was largely due to the six-month contribution from ION Orchard, better performance from existing properties and lower interest expenses from lower gearing and an easing interest rate environment. Revenue dipped 0.5 per cent to S$787.6 million, while net property income fell 1.7 per cent to S$579.9 million. The counter closed 2.28 per cent or S$0.050 up on Monday (Aug 4) at S$2.240. CapitaLand Ascendas Reit : The industrial property player posted a 0.6 per cent drop in DPU for the first half of the 2025 financial year, down to S$0.07477, on the back of an enlarged unit base. The unit base grew 0.7 per cent year on year. The Reit also posted a 2 per cent lower H1 revenue at S$754.8 million due to the divestment of five properties in Australia, Singapore and the US, and the decommissioning of a property in the UK for redevelopment in June 2024. Its units closed Monday up 2.2 per cent or S$0.06 at S$2.80, before the results were released. Lendlease Global Commercial Reit : The Lendlease Global Commercial Reit posted a 1.8 per cent increase in DPU for the first half of FY2025. The higher DPU was due to better performance of its Singapore properties and lower finance costs, said the Reit's manager on Monday. Revenue rose 1.9 per cent to S$102.9 million, while net property income was 2.7 per cent higher at S$73.8 million. The Reit's units closed Monday 2.7 per cent or S$0.015 higher at S$0.565, before the financial statements were released. Frasers Hospitality Trust : The trust posted mixed results across its markets on Monday for the third quarter ended June. RevPAR fell by between 1.2 per cent and 5.6 per cent in Singapore, Australia and Malaysia. On the other hand, RevPAR rose 17.6 per cent in Japan, and 0.1 per cent in the United Kingdom. The average daily rate increased 8.3 per cent year on year, mainly due to weakness in the transient and corporate segment, but there was a 4 percentage occupancy improvement to 73 per cent for its Singapore portfolio for the quarter. Units of Frasers Hospitality Trust rose 0.7 per cent or S$0.005 to S$0.705 on Monday, before the results were published. Sunpower : The environmental protection solutions provider received 135.2 million yuan (S$24.2 million) in biomass subsidies from the state grid corporation of China. This was for biomass electricity generated through the Xintai Project from April 2023 to December 2024. The subsidies were granted under China's policy to support renewable energy development. The group said on Tuesday that it plans to build artificial intelligence-powered thermal and steam pipeline networks and expand into renewable and alternative energy development. Shares of Sunpower closed Monday flat at S$0.23. Dasin Retail Trust : Its subsidiary Zhongshan Yuanxin Commercial Property Management could face legal action if it fails to make full repayment of offshore liabilities within a five-day window starting from Aug 1, when it was issued a letter from an offshore facility agent. The letter said Zhongshan had, among other things, breached the terms of an intercreditor deed, by making an unauthorised loan repayment that resulted in its outstanding onshore loans falling below a minimum required amount. Units of Dasin Retail Trust have been suspended from trading.
Business Times
7 days ago
- Business
- Business Times
RevPAR is mixed across Frasers Hospitality Trust's markets in Q3
[SINGAPORE] Frasers Hospitality Trust saw its revenue per available room (RevPAR) drop in three of the five key markets in which it operates for the quarter ended June, the trust manager said in a regulatory filing on Monday (Aug 4). RevPAR fell by between 1.2 per cent and 5.6 per cent in Singapore, Australia and Malaysia, with that in Singapore making the steepest drop for Q3 FY2025. In contrast, Japan's RevPAR rose 17.6 per cent, and that in the United Kingdom eked out a modest gain of 0.1 per cent. However, for the three quarters of FY2025, only Singapore and Malaysia posted decreased RevPAR of 3.1 per cent and 0.1 per cent, respectively, compared with the year-ago nine-month period. RevPAR for Japan, at 17.6 per cent higher, topped the markets for Frasers Hospitality Trust. Although the average daily rate (ADR) rose 8.3 per cent year on year, mainly due to weakness in the transient and corporate segment, there was a 4 percentage improvement to 73 per cent in occupancy for its Singapore portfolio for Q3 FY2025. The Singapore dollar's appreciation against major currencies likely dampened inbound travel demand, the trust manager said. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up RevPAR in Malaysia normalised after the rapid recovery phase post-pandemic, with a 0.1 per cent drop, mainly due to weaker corporate and group demand. In contrast, Japan posted a 9.7 percentage-point rise in occupancy and an 8 per cent increase in ADR for the nine months of FY2025, amid steady domestic demand and a sustained recovery in international arrivals. In spite of a 0.3 per cent rise in RevPAR for Australia, ADR declined slightly by 1.7 per cent for Q3 FY2025 because of a high base in the previous year. RevPAR rose a 2.6 per cent in the UK, driven by higher occupancy, but ADR declined amid intense rate competition in the transient segment and a market-wide dip in rates. Gearing stood at 34.8 per cent, with effective cost of borrowing at 3.5 per cent and interest coverage ratio at 2.9 times as at end of Q3 FY2025. Net asset value per stapled security was S$0.64, and the total value of investment properties was S$1.8 billion. Units of Frasers Hospitality Trust rose by 0.7 per cent or S$0.005 to S$0.705 on Monday, before this filing was published.
Business Times
06-07-2025
- Business
- Business Times
S-Reits with best debt profiles have an average gearing ratio of 33.5%
[singapore] Last month, the US Federal Reserve opted to maintain its benchmark interest rate, adopting a cautious stance despite speculation about a potential rate cut as early as July, with chair Jerome Powell stating that future decisions will be data-dependent. Market analysts now predict a 75-basis-point (bps) cut in 2025, up from the previously anticipated 50 bps. Singapore real estate investment trusts (S-Reits) have delivered a commendable performance, closing the first half of 2025 with a 4.2 per cent total return, as indicated by the iEdge S-Reit Index. Over the past 12 months, S-Reits have delivered a 10.5 per cent total return. Notably, the top 10 best-performing S-Reits have delivered double-digit returns in H1 2025. They include Frasers Hospitality Trust (21.5 per cent), CapitaLand Integrated Commercial Trust (14.3 per cent), Frasers Centrepoint Trust (11.4 per cent), CapitaLand Ascendas Reit (10.1 per cent) and Parkway Life Reit (10 per cent). The iEdge S-Reit Index concluded H1 2025 at 1,021 and touched 1,030 on Jul 3, a level which was previously tested three times – in November 2024, January 2025 and April 2025. The consensus estimate target price for the next 12 months is pegged at 1,159. From a balance-sheet standpoint, the S-Reit sector maintains an average gearing ratio of 40 per cent, reflecting prudent capital management; it is also well below the regulatory limit of 50 per cent. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up The 10 S-Reits with the lowest gearing ratios are Sasseur Reit , Aims Apac Reit , Keppel DC Reit , Far East Hospitality Trust , Frasers Hospitality Trust, Frasers Logistics & Commercial Trust , Parkway Life Reit, Starhill Global Reit , IReit Global and Mapletree Pan Asia Commercial Trust . On average, these 10 have a gearing ratio of 33.5 per cent. Sasseur Reit, notable for its low gearing ratio of 25.9 per cent for the first quarter of 2025, reported a slight year-on-year (yoy) dip of 0.2 per cent in its entrusted management agreement (EMA) rental income for the same period. This was primarily due to weaker foreign exchange rates and lower variable income. However, in renminbi terms, Q1 2025 EMA rental income saw a 1.6 per cent yoy increase. The Reit's portfolio occupancy rate improved to 98.9 per cent, up from 97.9 per cent in the previous year, with higher occupancy recorded at its Chongqing Bishan and Kunming outlet malls in China. Its management remains committed to maintaining a healthy balance sheet to seize potential opportunistic acquisitions. Sasseur Reit has the right of first refusal on two assets in Xi'an and Guiyang, and could also look for acquisition opportunities within other assets managed by its sponsor. As at Q1 2025, its sponsor Sasseur Group manages a total of 18 outlet malls, including the four properties owned by the group. UOB Kay Hian research noted that the recent preference for quality names resulted in the three-month compounded Singapore Overnight Rate Average easing by 98 bps to 2.09 per cent in H1 2025. Despite this significant drop, there has been no positive price movement or re-rating for S-Reits. The research house expects broader recovery in liquidity from possible Fed rate cuts at the end of 2025 to lift the sector. However, global geopolitical uncertainties and tariff risks remain in focus, and investors should stay nimble and watch data as they head into the second half of the year. SGX RESEARCH The writer is a research analyst at SGX. For more research and information on Singapore's Reit sector, visit for the S-Reits & Property Trusts Chartbook.
Business Times
06-07-2025
- Business
- Business Times
S-Reits with lowest relative gearing have an average ratio of 33.5%
[singapore] Last month, the US Federal Reserve opted to maintain its benchmark interest rate, adopting a cautious stance despite speculation about a potential rate cut as early as July, with chair Jerome Powell stating that future decisions will be data-dependent. Market analysts now predict a 75-basis-point (bps) cut in 2025, up from the previously anticipated 50 bps. Singapore real estate investment trusts (S-Reits) have delivered a commendable performance, closing the first half of 2025 with a 4.2 per cent total return, as indicated by the iEdge S-Reit Index. Over the past 12 months, S-Reits have delivered a 10.5 per cent total return. Notably, the top 10 best-performing S-Reits have delivered double-digit returns in H1 2025. They include Frasers Hospitality Trust (21.5 per cent), CapitaLand Integrated Commercial Trust (14.3 per cent), Frasers Centrepoint Trust (11.4 per cent), CapitaLand Ascendas Reit (10.1 per cent) and Parkway Life Reit (10 per cent). The iEdge S-Reit Index concluded H1 2025 at 1,021 and touched 1,030 on Jul 3, a level which was previously tested three times – in November 2024, January 2025 and April 2025. The consensus estimate target price for the next 12 months is pegged at 1,159. From a balance-sheet standpoint, the S-Reit sector maintains an average gearing ratio of 40 per cent, reflecting prudent capital management; it is also well below the regulatory limit of 50 per cent. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up The 10 S-Reits with the lowest gearing ratios are Sasseur Reit , Aims Apac Reit , Keppel DC Reit , Far East Hospitality Trust , Frasers Hospitality Trust, Frasers Logistics & Commercial Trust , Parkway Life Reit, Starhill Global Reit , IReit Global and Mapletree Pan Asia Commercial Trust . On average, these 10 have a gearing ratio of 33.5 per cent. Sasseur Reit, notable for its low gearing ratio of 25.9 per cent for the first quarter of 2025, reported a slight year-on-year (yoy) dip of 0.2 per cent in its entrusted management agreement (EMA) rental income for the same period. This was primarily due to weaker foreign exchange rates and lower variable income. However, in renminbi terms, Q1 2025 EMA rental income saw a 1.6 per cent yoy increase. The Reit's portfolio occupancy rate improved to 98.9 per cent, up from 97.9 per cent in the previous year, with higher occupancy recorded at its Chongqing Bishan and Kunming outlet malls in China. Its management remains committed to maintaining a healthy balance sheet to seize potential opportunistic acquisitions. Sasseur Reit has the right of first refusal on two assets in Xi'an and Guiyang, and could also look for acquisition opportunities within other assets managed by its sponsor. As at Q1 2025, its sponsor Sasseur Group manages a total of 18 outlet malls, including the four properties owned by the group. UOB Kay Hian research noted that the recent preference for quality names resulted in the three-month compounded Singapore Overnight Rate Average easing by 98 bps to 2.09 per cent in H1 2025. Despite this significant drop, there has been no positive price movement or re-rating for S-Reits. The research house expects broader recovery in liquidity from possible Fed rate cuts at the end of 2025 to lift the sector. However, global geopolitical uncertainties and tariff risks remain in focus, and investors should stay nimble and watch data as they head into the second half of the year. SGX RESEARCH The writer is a research analyst at SGX. For more research and information on Singapore's Reit sector, visit for the S-Reits & Property Trusts Chartbook.
Business Times
06-07-2025
- Business
- Business Times
Top S-Reits with lowest gearing ratios average 33.5% as investors await rate cuts
[singapore] Last month, the US Federal Reserve opted to maintain its benchmark interest rate, adopting a cautious stance despite speculation about a potential rate cut as early as July, with chair Jerome Powell stating that future decisions will be data-dependent. Market analysts now predict a 75-basis-point (bps) cut in 2025, up from the previously anticipated 50 bps. Singapore real estate investment trusts (S-Reits) have delivered a commendable performance, closing the first half of 2025 with a 4.2 per cent total return, as indicated by the iEdge S-Reit Index. Over the past 12 months, S-Reits have delivered a 10.5 per cent total return. Notably, the top 10 best-performing S-Reits have delivered double-digit returns in H1 2025. They include Frasers Hospitality Trust (21.5 per cent), CapitaLand Integrated Commercial Trust (14.3 per cent), Frasers Centrepoint Trust (11.4 per cent), CapitaLand Ascendas Reit (10.1 per cent) and Parkway Life Reit (10 per cent). The iEdge S-Reit Index concluded H1 2025 at 1,021 and touched 1,030 on Jul 3, a level which was previously tested three times – in November 2024, January 2025 and April 2025. The consensus estimate target price for the next 12 months is pegged at 1,159. From a balance-sheet standpoint, the S-Reit sector maintains an average gearing ratio of 40 per cent, reflecting prudent capital management; it is also well below the regulatory limit of 50 per cent. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up The 10 S-Reits with the lowest gearing ratios are Sasseur Reit , Aims Apac Reit , Keppel DC Reit , Far East Hospitality Trust , Frasers Hospitality Trust, Frasers Logistics & Commercial Trust , Parkway Life Reit, Starhill Global Reit , IReit Global and Mapletree Pan Asia Commercial Trust . On average, these 10 have a gearing ratio of 33.5 per cent. Sasseur Reit, notable for its low gearing ratio of 25.9 per cent for the first quarter of 2025, reported a slight year-on-year (yoy) dip of 0.2 per cent in its entrusted management agreement (EMA) rental income for the same period. This was primarily due to weaker foreign exchange rates and lower variable income. However, in renminbi terms, Q1 2025 EMA rental income saw a 1.6 per cent yoy increase. The Reit's portfolio occupancy rate improved to 98.9 per cent, up from 97.9 per cent in the previous year, with higher occupancy recorded at its Chongqing Bishan and Kunming outlet malls in China. Its management remains committed to maintaining a healthy balance sheet to seize potential opportunistic acquisitions. Sasseur Reit has the right of first refusal on two assets in Xi'an and Guiyang, and could also look for acquisition opportunities within other assets managed by its sponsor. As at Q1 2025, its sponsor Sasseur Group manages a total of 18 outlet malls, including the four properties owned by the group. UOB Kay Hian research noted that the recent preference for quality names resulted in the three-month compounded Singapore Overnight Rate Average easing by 98 bps to 2.09 per cent in H1 2025. Despite this significant drop, there has been no positive price movement or re-rating for S-Reits. The research house expects broader recovery in liquidity from possible Fed rate cuts at the end of 2025 to lift the sector. However, global geopolitical uncertainties and tariff risks remain in focus, and investors should stay nimble and watch data as they head into the second half of the year. The writer is a research analyst at SGX. For more research and information on Singapore's Reit sector, visit for the S-Reits & Property Trusts Chartbook.
