Tag Archives: Fraser & Neave

Frasers Commercial Trust

Fraser & Neave (F99.SG) drops 10.9% to $8.02, extending Monday’s 4.7% drop. “There’s uncertainty on the strategy going forward, but more importantly is the passive shareholder that has to get out,” says Jonathan Foster, director of special situations for Religare Capital. “They will be removed from the MSCI index tomorrow night; there’s going to be quite a lot of index selling.” He also notes there simply aren’t many F&N shares left to trade. With slightly more than 90% of shareholders selling out after TCC Assets’ $9.55/share takeover bid, the remaining holders were either passive or index funds or small retail investors, he notes; “that’s where all the selling is.”

Source : The Edge – 23 Apr 2013

Bedok Point officially launched

Frasers Centrepoint Malls has officially opened its latest neighbourhood mall at Bedok Town Centre on Tuesday.

Bedok Point features over 70 shops, with many F&B tenants located on the first level.

Fraser & Neave Chairman Lee Hsien Yang graced the opening of the four-storey Bedok Point – which is the 9th in the companies’ mall portfolio.

The mall has a total net lettable area of 81,000 square feet, with an occupancy rate of 98 per cent.

Since its soft opening in December, the mall is said to have attracted over 900,000 shoppers every month. Bedok Point enjoys a captive shopper catchment of more than 295,000 residents.

A big crowd puller is the mall’s long operating hours where F&B tenants will remain open until 1am on weekdays and 3am on weekends.

Christopher Tang, CEO of Frasers Centrepoint Commercial said: “It represents the kind of momentum that we are trying to develop as a retail mall in this space. So far, we are taking traction. We have two classes of mall; Bedok Point is the third within the class that we call the neighbourhood malls – the smaller, more intimately-sized and integrated to the heartbeat of the immediate surrounding, the community that surround us.

“The next exciting concept that you can expect to hear from us will be the one which we are going to call Changi Citypoint. That is going to be next to the MRT station. We expect to open that for trading by the second half of this year. That mall will be 205,000 square feet, with close to 150 tenants.”

Further in the pipeline is another mall at Punggol which will be the 11th in the firm’s portfolio. The mall will have 350,000 to 400,000 square feet and will be built next to a riverfront.

Source : CNA – 26 Apr 2011