Latest news with #FrasersProperty
Business Times
3 days ago
- Business
- Business Times
Frasers Property logs S$1.4 billion in regional pre-sales, says it's well-placed to manage upcoming debt
[SINGAPORE] Frasers Property has achieved pre-sold revenue of S$1.4 billion so far in financial year 2025 for its projects in Singapore, Australia, China and Thailand, the real estate group said on Thursday (Aug 7), in a business update for its third quarter ended June. In Singapore, the group said the residential market remains resilient, underpinned by strong homeownership rates and continued investment appeal. It also noted that residential sales volume rose year on year, driven by a pickup in private residential launches in Q2 and a moderation in interest rates. For the first nine months of FY2025, the group sold 712 units in the city-state, with unrecognised revenue amounting to S$400 million as at end-June. Among its developments, 41 per cent of the units at the Robertson Opus were sold; at The Orie in Toa Payoh, the figure was 91 per cent. Meanwhile, Sky Eden@Bedok is on track for completion by the first quarter of FY2026. In Australia, the group noted that mean dwelling prices rose in Q2, and that residential housing demand improved following recent interest rate cuts. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up Unrecognised revenue there stood at S$500 million as at Jun 30, with 1,672 contracts on hand, it said. Frasers also highlighted proactive leasing strategies and the portfolio repositioning of its office assets to mitigate softer occupancy and valuation pressures. It said office metrics weakened due to planned vacancies in Lee Street in Sydney, stemming from deliberate non-renewal of leases to support potential redevelopment. At Rhodes Quarter, also in Sydney, continued leasing efforts and tenant retention helped sustain weighted average lease expiry and occupancy levels despite challenging market conditions. The group noted that Thailand's residential segment remained subdued, though signs of improvement are emerging. In China, the residential portfolio delivered a stable performance, supported by steady sales and timely project completions. Frasers Property said it is well-positioned to meet all debt obligations due in the next 12 months, either through repayment or refinancing. As at end June, its net debt stood at S$15.3 billion, up 5.3 per cent from end September 2024. Its net debt-to-equity ratio worsened by 5.8 percentage points to 89.2 per cent. Frasers Property closed flat at S$0.955 on Thursday, before the announcement.
Business Times
4 days ago
- Business
- Business Times
When heritage meets global ambition
FROM Fraser and Neave, Limited's ('F&N') founding in 1883 to Frasers Property's evolution into a multinational real estate group, the journey of these two iconic homegrown companies reflects Singapore's own – defined by resilience, innovation and a commitment to excellence. Rooted in Singapore's heritage, both companies continue to evolve as part of the TCC Group helmed by Thailand's Sirivadhanabhakdi family. This has opened new chapters for growth and reinforced their shared ambition and regional leadership, with Singapore remaining at the heart of their story. F&N, renowned for its iconic soft drinks and dairy products, has grown into a diversified ASEAN consumer group, offering everything from beverages and packaged foods to educational publishing. Now a Thai Beverage subsidiary, Singapore-headquartered F&N draws on its heritage to offer a wide range of winning products and strengthen its leadership across the region. Frasers Property is today a multinational real estate investor, developer and manager in 20 countries. Its first hospitality property, Fraser Suites Singapore, sits on the site of F&N's former soft drink bottling plant – a meaningful connection to their shared legacy. From suburban malls serving as vibrant social hubs to award-winning residences, mixed-use, commercial and hospitality properties, its Purpose – Inspiring experiences, creating places for good. – guides its transformation of Singapore's skyline as it enhances the quality of life, connects businesses and strengthens communities. As Singapore celebrates its diamond jubilee, F&N and Frasers Property honour their shared heritage and look ahead – united in their commitment to inclusive, sustainable growth for generations. Milestones that mirror a nation's journey 1883: F&N's story starts in Singapore, where John Fraser and David Neave established The Singapore and Straits Aerated Water Company to produce carbonated soft drinks. Making a splash since 1883. 1898: F&N was publicly listed in Singapore. 1931: F&N co-founded Asia Pacific Breweries Ltd ('APB') with Heineken N.V. Holland ('Heineken'), introducing beer production to Singapore and the region. 1936: Secured Coca-Cola bottling rights for Singapore and Malaysia, cementing F&N's ASEAN beverage leadership for 75 years. 1959: F&N entered the dairy business in Singapore. F&N entered the dairy business 66 years ago. 1983: Launched 100PLUS, Singapore's first isotonic drink, to mark F&N's centenary. The Centrepoint property development was launched. The Centrepoint was the first property developed by Frasers Property in 1980. 1985: Relocated brewery and soft drinks plants to develop landmark residential and commercial properties, supporting Singapore's urban growth. 1988: Centrepoint Properties Limited ('CPL') listed and subsequently became a subsidiary of F&N in 1990. 1998: Expanded into hospitality with two openings in Singapore, Fraser Suites and Fraser Place. 2000: Acquired Times Publishing Group, one of Singapore's leading publishing and printing companies. International expansion into real estate in the UK. 2006: CPL was rebranded Frasers Centrepoint Limited ('FCL') and launched its first REIT, Frasers Centrepoint Trust. F&N acquired Nestle's liquid canned milk business in Singapore, Malaysia, Thailand and Brunei. 2013: F&N and FCL became part of TCC Group, marking a new chapter of growth and investment. 2014: FCL relisted as Frasers Property Limited ('FPL'). 2019: FPL built key platforms – Frasers Property Industrial, scaled in Thailand and retail in Singapore. 2020: Completed merger to form Frasers Logistics & Commercial Trust. Alexandra Point was Frasers Property's first commercial building and the present headquarters of both F&N and Frasers Property. 2021-2022: F&N entered the packaged food segments, acquiring Sri Nona Companies and Cocoaland Holdings. FPL introduces its Purpose, reflecting the company's focus on creating long-lasting value for its stakeholders. 2023: F&N and FPL jointly celebrated 140 years of heritage in Singapore, reaffirming their roots as homegrown, household names that are part of the nation's growth story. 2024: TCC Group and Thai Beverage Public Company Ltd (ThaiBev) completed a strategic share swap, making F&N a ThaiBev subsidiary while TCC Group increased its shareholding in FPL. Two CEOs on legacy, impact and the future Ms Soon Su Lin, CEO of Frasers Property Singapore, and Mr Hui Choon Kit, CEO of Fraser and Neave, Limited, reflect on 142 years of shared heritage, evolution, and their continued commitment to Singapore's future. How has Singapore's identity and heritage shaped the way you do business? Soon Su Lin: Singapore's diversity, far-sightedness and global outlook have shaped how we operate at Frasers Property. These qualities guide our approach to creating inclusive, future-ready spaces that reflect our city's dynamism and care for people. Our developments – both in Singapore and across 20 countries – are built with purpose, and a deep respect for diverse communities. We are proud of our heritage in Singapore and this is reflected in how we brand our suburban malls, which act as social hubs in the communities we serve. Hui Choon Kit: F&N's journey reflects Singapore's transformation into a vibrant, innovation-driven nation. Shaped by values of multiculturalism, resilience and excellence, we embrace innovation, build trusted brands that serve evolving community needs, and grow with purpose. This entrepreneurial mindset has guided our evolution – our beginnings in soft drinks to a diverse portfolio spanning non-alcoholic beverages, beer, publishing and printing. Staying true to our roots, we continue to enrich lives at home and across ASEAN and beyond. What role has your company played in shaping Singapore's urban transformation? Soon Su Lin: We're proud to play a key role in the Singapore story, building spaces where one can work, live and play, all within the vicinity. As the largest prime suburban mall operator, our malls serve over half of Singapore's population. They are vibrant social hubs, with communal facilities, placemaking initiatives and tenant offerings bringing people together. To date, we have delivered more than 23,000 quality homes. We continue to transform precincts, including redeveloping Robertson Walk into The Robertson Opus, which will redefine luxury riverside living. Contributing to Singapore's office sector, our commercial buildings provide quality flexible workspaces, community zones and digital solutions to tenants. How has your brand evolved alongside Singapore's growth? Hui Choon Kit: Our brands like F&N, 100PLUS, F&N MAGNOLIA, and F&N NUTRISOY have grown alongside Singapore, becoming household names woven into daily life, from school canteens to family meals and festive celebrations. As lifestyles evolve, we continue to innovate in support of healthier living. 100PLUS helps Singaporeans stay hydrated and active; F&N MAGNOLIA offers calcium-rich milk; and F&N NUTRISOY provides nutrient-rich soy-based beverages. They reflect our commitment to national health goals and nurturing healthier generations. Everyday hydration with 100PLUS. In addition to our non-alcoholic beverages, our heritage includes building some of Singapore's most iconic brands. In 1931, we co-founded APB with Heineken, playing a key role in building Tiger Beer into a globally recognised brand, rooted in Singapore's brewing heritage – a legacy we remain proud of today. Beyond beverages, we have contributed to Singapore's knowledge economy through Marshall Cavendish Education ('MCE'), now empowering educators in over 95 countries. Today, as part of the ThaiBev Group, we combine regional scale with strong local roots, aligned with Singapore's priorities of sustainability, food security and innovation. Our continued investments in regional dairy supply and sustainable packaging not only strengthen food resilience but also reflect our shared commitment to a healthier, more sustainable future. What achievements in Singapore have influenced your business capabilities overseas? Soon Su Lin: Our people-centric approach to real estate drives us to craft meaningful experiences for the community, earning us local and international accolades. Notably, our flagship mixed-use developments like Waterway Point and Watertown won FIABCI World Prix d'Excellence Awards, while our efforts to conserve and restore century-old warehouses in the Rivière integrated precinct attained URA's recognition. The Group's latest development is One Bangkok, the largest mixed-use district in Bangkok and the first LEED and WELL Platinum Neighbourhood District in Southeast Asia. Across the Group, we value driving ESG impact, pioneering initiatives like Inclusion Champions locally to better support shoppers with special needs, and green solutions for food waste management in Singapore, Thailand and Australia. Frasers Property's Inclusion Champions programme was launched in Singapore to better support shoppers with different needs. Hui Choon Kit: Our greatest achievements in Singapore lie in building trusted, beloved brands – from pioneering 100PLUS, Singapore's first isotonic drink, to F&N MAGNOLIA and F&N NUTRISOY – that support active lifestyles and nourish generations. This strong foundation, rooted in Singapore's spirit of innovation and excellence, has sharpened our expertise and enabled us to grow confidently across ASEAN, where our brands are now widely recognised. Building on this, we have also championed Singapore's education excellence through MCE – starting in local classrooms and now empowering educators in over 95 countries, bringing innovative learning solutions and Singapore's hallmark of educational excellence worldwide. Above all, Singapore's commitment to food safety, operational excellence, and sustainability has strengthened our global capabilities – enabling us to deliver high-quality products and solutions confidently to communities worldwide. What are your aspirations for the next 60 years? Soon Su Lin: Frasers Property's Purpose – Inspiring experiences, creating places for good. – will guide how we invest, develop and manage our multinational multi-asset class portfolio. We are committed to sustainable value creation that delivers financial performance and positive societal impact. ESG considerations are embedded throughout our value chain, from planning to operations and partnerships, ensuring our spaces are resilient and future-ready. Real estate must go beyond economic value to foster well-being, inclusivity, and environmental stewardship. Looking ahead, we aim to share Singapore-born solutions across our footprint, amplifying our impact. Ultimately, we aspire to deliver long-term value to stakeholders – investors, tenants and communities – while shaping a more sustainable, liveable future. Hui Choon Kit: We aspire to build a more resilient, inclusive, and sustainable future, where F&N continues to enrich lives across generations. Our goal is to lead in areas that matter most: delivering trusted, high-quality products, advancing education solutions, and pioneering sustainable packaging innovations. Anchored in Singapore's heritage and driven by an entrepreneurial spirit, we are committed to expanding across ASEAN and beyond, empowering communities, championing healthier lifestyles, and reinforcing Singapore's global relevance. Ultimately, we remain focused on creating long-term value while staying true to our purpose of enriching lives for generations to come. Together, both companies share a common vision: to create long-term value through sustainability, innovation, and purpose-driven growth – shaping a future that honours our heritage while meeting the needs of tomorrow.
Yahoo
31-07-2025
- Business
- Yahoo
Frasers Property Limited's (SGX:TQ5) Intrinsic Value Is Potentially 100% Above Its Share Price
Key Insights Frasers Property's estimated fair value is S$1.90 based on 2 Stage Free Cash Flow to Equity Frasers Property is estimated to be 50% undervalued based on current share price of S$0.95 Today we will run through one way of estimating the intrinsic value of Frasers Property Limited (SGX:TQ5) by taking the expected future cash flows and discounting them to their present value. The Discounted Cash Flow (DCF) model is the tool we will apply to do this. It may sound complicated, but actually it is quite simple! We would caution that there are many ways of valuing a company and, like the DCF, each technique has advantages and disadvantages in certain scenarios. If you still have some burning questions about this type of valuation, take a look at the Simply Wall St analysis model. We've found 21 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free. The Model We use what is known as a 2-stage model, which simply means we have two different periods of growth rates for the company's cash flows. Generally the first stage is higher growth, and the second stage is a lower growth phase. In the first stage we need to estimate the cash flows to the business over the next ten years. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years. A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, and so the sum of these future cash flows is then discounted to today's value: 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 Levered FCF (SGD, Millions) S$146.2m S$949.0m S$858.3m S$806.9m S$778.8m S$765.3m S$761.5m S$764.2m S$771.5m S$782.2m Growth Rate Estimate Source Analyst x2 Analyst x1 Est @ -9.56% Est @ -5.98% Est @ -3.48% Est @ -1.73% Est @ -0.50% Est @ 0.36% Est @ 0.96% Est @ 1.38% Present Value (SGD, Millions) Discounted @ 11% S$132 S$770 S$627 S$531 S$462 S$409 S$366 S$331 S$301 S$275 ("Est" = FCF growth rate estimated by Simply Wall St)Present Value of 10-year Cash Flow (PVCF) = S$4.2b We now need to calculate the Terminal Value, which accounts for all the future cash flows after this ten year period. For a number of reasons a very conservative growth rate is used that cannot exceed that of a country's GDP growth. In this case we have used the 5-year average of the 10-year government bond yield (2.4%) to estimate future growth. In the same way as with the 10-year 'growth' period, we discount future cash flows to today's value, using a cost of equity of 11%. Terminal Value (TV)= FCF2035 × (1 + g) ÷ (r – g) = S$782m× (1 + 2.4%) ÷ (11%– 2.4%) = S$9.2b Present Value of Terminal Value (PVTV)= TV / (1 + r)10= S$9.2b÷ ( 1 + 11%)10= S$3.3b The total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is S$7.5b. In the final step we divide the equity value by the number of shares outstanding. Relative to the current share price of S$0.9, the company appears quite good value at a 50% discount to where the stock price trades currently. The assumptions in any calculation have a big impact on the valuation, so it is better to view this as a rough estimate, not precise down to the last cent. Important Assumptions The calculation above is very dependent on two assumptions. The first is the discount rate and the other is the cash flows. Part of investing is coming up with your own evaluation of a company's future performance, so try the calculation yourself and check your own assumptions. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at Frasers Property as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 11%, which is based on a levered beta of 2.000. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business. See our latest analysis for Frasers Property SWOT Analysis for Frasers Property Strength Dividends are covered by earnings and cash flows. Weakness Interest payments on debt are not well covered. Dividend is low compared to the top 25% of dividend payers in the Real Estate market. Opportunity Trading below our estimate of fair value by more than 20%. Threat Debt is not well covered by operating cash flow. Next Steps: Valuation is only one side of the coin in terms of building your investment thesis, and it ideally won't be the sole piece of analysis you scrutinize for a company. The DCF model is not a perfect stock valuation tool. Rather it should be seen as a guide to "what assumptions need to be true for this stock to be under/overvalued?" For example, changes in the company's cost of equity or the risk free rate can significantly impact the valuation. Why is the intrinsic value higher than the current share price? For Frasers Property, we've compiled three pertinent elements you should further examine: Risks: Be aware that Frasers Property is showing 4 warning signs in our investment analysis , and 2 of those shouldn't be ignored... Future Earnings: How does TQ5's growth rate compare to its peers and the wider market? Dig deeper into the analyst consensus number for the upcoming years by interacting with our free analyst growth expectation chart. Other High Quality Alternatives: Do you like a good all-rounder? Explore our interactive list of high quality stocks to get an idea of what else is out there you may be missing! PS. The Simply Wall St app conducts a discounted cash flow valuation for every stock on the SGX every day. If you want to find the calculation for other stocks just search here. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
Yahoo
23-07-2025
- Business
- Yahoo
Frasers Property-Sekisui House sells 41% of units at The Robertson Opus at an average price of $3,360 psf
Crows at preview of The Robertson Opus (Photo: Frasers Property/Sekisui House) Over the weekend of July 19–20, Singapore-listed Frasers Property and Japanese developer Sekisui House launched The Robertson Opus for sale. By 6pm on Sunday, July 20, 143 units — or 41% of the 348-unit development — had been sold at an average price of $3,360 psf. 'The robust sales performance at The Robertson Opus is a testament to the project's outstanding design, quality, and prime location, and reflects strong demand for luxury homes in Singapore's city centre,' says Toru Ishii, director of the board of Sekisui House, in a joint statement by the partners. Located in prime District 9, The Robertson Opus is a redevelopment of the former Fraser Place at Robertson Walk. The 999-year leasehold project is part of a mixed-use development that includes a retail podium with a sunken courtyard and 26 units housing a curated mix of fine dining restaurants, cafés, and lifestyle concepts. Get the latest details on available units and prices for The Robertson Opus "The project's rare 999-year tenure, prestigious District 9 address, and sophisticated riverside lifestyle make it a compelling choice for discerning buyers seeking long-term value and generational wealth," says Soon Su Lin, CEO of Frasers Property. The 348-unit The Robertson Opus sits on top of a retail podium with 26 F&B and retail units (Artist's impression: Frasers Property and Sekisui House) The residential component comprises five 10-storey blocks arranged around a landscaped central courtyard. Units sold ranged from $1.369 million for a 431 sq ft suite to $5.39 million for a 1,539 sq ft four-bedroom premium unit. On a psf basis, prices ranged from $3,149 to $3,585. According to Mark Yip, CEO of Huttons Asia, The Robertson Opus is the only 999-year leasehold project launched in the Core Central Region (CCR) this year. Yip highlights the project's location near the Singapore River and Clarke Quay, as well as its accessibility — Fort Canning MRT Station on the Downtown Line is less than a five-minute walk away. River Valley Primary School is also within a 1km radius. Kelvin Fong, CEO of PropNex Realty attributes the healthy sales at The Robertson Opus to 'the vibrancy and convenience of a mixed-use development, where residents are co-located with retail and F&B options'. Showflat of a three-bedroom premium unit where 26 out of 27 units have been taken up (Photo: Samuel Isaac Chua/EdgeProp Singapore) Owner-occupier demand, long-term investment Of the 27 three-bedroom premium units, 26 were sold at prices ranging from $3.699 million to $4.039 million ($3,211 to $3,506 psf). Eight of the nine four-bedroom premium units were also taken up, at prices between $5.15 million and $5.39 million ($3,346 to $3,502 psf). These units form part of the Legacy Collection, which is now nearly sold out — underscoring strong demand for larger, premium homes, says the joint developers. Read also: The Robertson Opus draws over 3,000 visitors during first preview weekend Two- and two-bedroom plus study units accounted for about 45% of total sales, with prices from $2.17 million to $2.63 million ($3,149 to $3,540 psf). Three-bedroom units, including the premium types, made up nearly 39% of take-up, priced between $3.1 million and $4.039 million ($3,079 to $3,506 psf). Together, these unit types comprised approximately 83% of all units sold. Frasers Property notes that around 83% of buyers are Singaporeans, 16% are Permanent Residents — primarily from China and Indonesia — and the remaining 1% are foreigners from the USA and Switzerland. 'The buyers comprise affluent professionals purchasing for their own stay or investment,' says Soon. Limited supply in the Robertson Quay subzone The last freehold or 999-year leasehold project launched in the area was the 376-unit freehold The Avenir over five years ago. The luxury development, by a joint venture between Hong Leong Holdings, GuocoLand, and Hong Realty, was launched in January 2020 and completed last year. Based on 11 caveats lodged in 2025 to date, the average transacted price was $3,423 psf. Latest transactions at The Avenir Source: EdgeProp Buddy Marcus Chu, CEO of ERA Singapore, estimates that there are fewer than 5,000 non-landed private homes in the Robertson Quay subzone. 'Currently, there are no other new projects with similar features in the pipeline,' he says. 'This supply limitation, coupled with sustained demand for central living, makes The Robertson Opus a compelling mid- to long-term investment.' Upcoming launches in prime areas Two other prime projects were also previewed over the same weekend: the 524-unit River Green by Wing Tai Holdings at River Valley Green in prime District 9, and the 596-unit Promenade Peak by Allgreen Properties in District 3. While River Green falls within the Core Central Region (CCR), its proximity to Promenade Peak — technically in the Rest of Central Region (RCR) — blurs the lines between the two regions, notes Ken Low, managing partner of SRI. Read also: Frasers Property to preview 999-year leasehold The Robertson Opus at prices starting from $3,150 psf 'In this tightly held enclave near Great World MRT, where new supply is limited and competition is rare, such simultaneous launches offer a rare window for buyers to assess, compare, and act,' he says. Price points have also drawn interest. Promenade Peak is priced from around $2,680 psf, while River Green starts from $2,846 psf — positioning both as compelling options, adds Low. 'The robust turnout at both previews bodes well for their official launch on August 2, signalling positive momentum and healthy buyer appetite,' Low observes. Source: PropNex Research, URA (Q2 2025 as per monthly developers' sales data) 'This weekend's CCR sales are very encouraging and send a positive signal for this sub-market, especially with more CCR launches coming up,' says PropNex's Fong. Check out the latest listings for The Robertson Opus properties See Also: Singapore Property for Sale & Rent, Latest Property News, Advanced Analytics Tools New Launch Condo & Landed Property in Singapore (COMPLETE list & updates) The Robertson Opus draws over 3,000 visitors during first preview weekend Frasers Property to preview 999-year leasehold The Robertson Opus at prices starting from $3,150 psf Frasers Property, Sekisui House and CSC Land JV submits top bid of $1,410 psf ppr for Dunearn GLS site En Bloc Calculator, Find Out If Your Condo Will Be The Next en-bloc HDB Resale Flats Up For Sale, Affordable Units Available
Business Times
14-07-2025
- Business
- Business Times
Stocks to watch: OCBC, SGX, Centurion, Sats, Frasers Property, Frasers Hospitality Trust
[SINGAPORE] THE following companies saw new developments that may affect trading of their securities on Monday (Jul 14): OCBC : The lender on Friday announced the retirement of its incumbent chief executive officer Helen Wong, who will step down on Dec 31, 2025, for family reasons. The current head of global wholesale banking Tan Teck Long, who will succeed Wong on Jan 1, 2026. Tan will immediately assume the additional role of deputy CEO. Wong will remain chairman of OCBC China and director of OCBC Hong Kong after stepping away from the helm. Shares of OCBC closed 0.9 per cent or S$0.15 higher at S$16.89 on Friday, before the announcement. Singapore Exchange (SGX) : The manager of NTT DC Reit (real estate investment trust) said the public tranche of its Singapore initial public offer was about 9.8 times oversubscribed. Based on the 30 million units available to the public for subscription, there were 14,166 valid applications for an aggregate of 294.8 million units. Shares of SGX ended on Friday 1 per cent or S$0.16 lower at S$15.46. Sats : Its CEO Kerry Mok was paid more than S$3.1 million in total remuneration for FY2025 ended March, a 30.5 per cent pay raise from the S$2.4 million in FY2024. Mok received S$1 million in salary, S$1.2 million in bonuses, around S$862,500 worth of Sats shares and S$74,000 in benefits. This comes as the group's earnings for FY2025 soared more than four times to S$243.8 million from the year-ago period. Sats shares closed 0.3 per cent or S$0.01 lower at S$3.12 on Friday. Frasers Property , Frasers Hospitality Trust (FHT) : The manager said on Friday that it received in-principle approval from the Singapore Exchange Securities Trading Limited (SGX-ST) to delist and remove FHT from the official list of SGX-ST. The scheme by FHT's sponsor Frasers Property to privatise the stapled group at S$0.71 per stapled security will require approval from stapled securityholders of FHT, the manager added. Shares of Frasers Property ended on Friday unchanged at S$0.89. Stapled securities of FHT ended on Friday flat at S$0.70. Aims Apac Rei t: Aims Financial Group raised its stake in Aims Apac Reit to nearly 18.7 per cent, after acquiring an additional 7 per cent stake of over 57 million units in the trust, its manager said on Monday. The units were acquired from substantial unitholder, ESR HK Management, which is part of ESR Group. Units in Aims Apac Reit ended on Friday 0.8 per cent or S$0.01 higher at S$1.33, before the news. Creative Technology : The group warned that revenue for its second half ended June would likely be below its target, at US$30 million. This comes as its topline was 'negatively impacted' by macroeconomic uncertainty and weakening consumer sentiment due to tariffs and trade tensions, which have adversely hit the business environment for many of its products, the group said on Friday. Creative's shares rose S$0.005, or 0.6 per cent to close at S$0.83 on Friday. Trading halt: Property management company Centurion Corp requested a trading halt on Monday morning, pending the release of an announcement. Its shares closed flat on Friday at S$1.76.
