logo transparent gif
top_white_spacer
Home Latest Stock Forum Topics MyCorner - Personal Stocks Porfolio Stock Lists Investor Insights Investor Research & Links Dynamic Stock Charting FREE Registration About Us top spacer top spacer
 User Password Auto-Login
Enter Stock
 
righttip
branding

Back
First   1-20 of 740   Older>   Last  
Latest Forum Topics / Frasers L&C Tr    Last:0.845    +0.005  Post Reply
Frasers Logistic & Industrial Trust IPO
chengwh1
Elite
09-May-2025 21:39     
 
chengwh1 About Contact  Quote this Post!  
  x 0
  x 2

 Alert Admin 		Thank you, superstartup,...... I browsed thru some materials and presentation slides, nothing around for us to do an intelligent guess on when will the loan interest rate peak. But there is one more ' new' problem. Mgmt is beginning to take their fees in cash. They used to take 100% of their fees in units in FY24.

superstartup      ( Date: 09-May-2025 17:44) Posted:

I believe the exact details are not publicly available.

However, a few brokerage firms had stated along the following :  " Management guided that its average funding cost is likely to rise to mid-3% post refinancing the remaining S$395m of debt maturing in 4QFY25F."

I suppose the guidance was provided at the usual result / analysts  briefing as I don' t seem to read about it from the company announcement. But I stand to be corrected.

chengwh1      ( Date: 09-May-2025 16:09) Posted:

All their earlier loan packages need to be refinanced to the current rate first, then only will their distributable income (DI) starts to stabilize and not experience anymore year-on-year drops. DI stabilizing will cause dpu payout to stabilize too. How do we find out when will the last loan packages at the earlier lower rates be refinanced


 Useful To Me  Not Useful To Me
superstartup
Supreme
09-May-2025 17:44     
 
superstartup About Contact  Quote this Post! Style: Fundamental  
Yells: "Enjoy doing Fundamental Research"
  x 0
  x 2

 Alert Admin 		I believe the exact details are not publicly available.

However, a few brokerage firms had stated along the following :  " Management guided that its average funding cost is likely to rise to mid-3% post refinancing the remaining S$395m of debt maturing in 4QFY25F."

I suppose the guidance was provided at the usual result / analysts  briefing as I don' t seem to read about it from the company announcement. But I stand to be corrected.

chengwh1      ( Date: 09-May-2025 16:09) Posted:

All their earlier loan packages need to be refinanced to the current rate first, then only will their distributable income (DI) starts to stabilize and not experience anymore year-on-year drops. DI stabilizing will cause dpu payout to stabilize too. How do we find out when will the last loan packages at the earlier lower rates be refinanced ?

superstartup      ( Date: 09-May-2025 12:37) Posted:

This reit has one of the lowest cost of debt over the last 2 to 3 years.
As their loans were properly hedged at the right timing then.
Hence the rising interest rate environment did not hit them as hard as other reits over the last few years in term of cost of debt.
However, the high interest rate environment persists, and with the hedging running out (expired), the cost of refinancing shoot up.
Even as of now, their cost of Debt is still relatively low which is " not good" as this year financing will be done at much higher rate now.

Another impact is China. Those avoiding China usually avoid this reit too, as Australia economy relied on China a lot. 


 Useful To Me  Not Useful To Me


chengwh1
Elite
09-May-2025 16:09     
 
chengwh1 About Contact  Quote this Post!  
  x 0
  x 1

 Alert Admin 		All their earlier loan packages need to be refinanced to the current rate first, then only will their distributable income (DI) starts to stabilize and not experience anymore year-on-year drops. DI stabilizing will cause dpu payout to stabilize too. How do we find out when will the last loan packages at the earlier lower rates be refinanced ?

superstartup      ( Date: 09-May-2025 12:37) Posted:

This reit has one of the lowest cost of debt over the last 2 to 3 years.
As their loans were properly hedged at the right timing then.
Hence the rising interest rate environment did not hit them as hard as other reits over the last few years in term of cost of debt.
However, the high interest rate environment persists, and with the hedging running out (expired), the cost of refinancing shoot up.
Even as of now, their cost of Debt is still relatively low which is " not good" as this year financing will be done at much higher rate now.

Another impact is China. Those avoiding China usually avoid this reit too, as Australia economy relied on China a lot. 

 Useful To Me  Not Useful To Me
halleluyah
Supreme
09-May-2025 12:45     
 
halleluyah About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin 		the occupancy fr the commercial is vry low only 85.5%....aussie dollar also super weak, close to historical low......guess will further downside in the next reporting......dyodd

superstartup      ( Date: 09-May-2025 12:37) Posted:

This reit has one of the lowest cost of debt over the last 2 to 3 years.
As their loans were properly hedged at the right timing then.
Hence the rising interest rate environment did not hit them as hard as other reits over the last few years in term of cost of debt.
However, the high interest rate environment persists, and with the hedging running out (expired), the cost of refinancing shoot up.
Even as of now, their cost of Debt is still relatively low which is " not good" as this year financing will be done at much higher rate now.

Another impact is China. Those avoiding China usually avoid this reit too, as Australia economy relied on China a lot. 

 Useful To Me  Not Useful To Me
superstartup
Supreme
09-May-2025 12:37     
 
superstartup About Contact  Quote this Post! Style: Fundamental  
Yells: "Enjoy doing Fundamental Research"
  x 0
  x 1

 Alert Admin 		This reit has one of the lowest cost of debt over the last 2 to 3 years.
As their loans were properly hedged at the right timing then.
Hence the rising interest rate environment did not hit them as hard as other reits over the last few years in term of cost of debt.
However, the high interest rate environment persists, and with the hedging running out (expired), the cost of refinancing shoot up.
Even as of now, their cost of Debt is still relatively low which is " not good" as this year financing will be done at much higher rate now.

Another impact is China. Those avoiding China usually avoid this reit too, as Australia economy relied on China a lot. 
 Useful To Me  Not Useful To Me


Sgvale
Supreme
09-May-2025 12:10     
 
Sgvale About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin 		Wow... so low now.
 Useful To Me  Not Useful To Me
chengwh1
Elite
08-May-2025 21:35     
 
chengwh1 About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin 		I had substantial hldgs here too,... my hldg price was a good $1, but even this price is not good enough today. The rental collection (revenue) & npi (adjusted) are good, they are growing year-on-year. So,... the properties seems to be right, but what did you notice, bro ? 

My opinion says the drop in dpu has always been abt the increasing loan expenses for this REIT. The following statement from the Press Release is referred :-
Distributable income for 1HFY25 was correspondingly lower at S$113.0 million, from S$130.7 million in 1HFY24 after taking into account the higher finance costs, higher tax expense and 56.9% of 1HFY25 management fees paid in the form of cash.

And to aggravate the situation, they are now taking more of their fees in cash. When a REIT Mgr starts taking her fees in cash, it will ' lessen' the dpu payout. There willl be justifications, no doubt, to taking fees in cash but not in units, but the net effect is a lower dividend payout to unitholders. So,.. we have to ask : when will the high interest rates start to get neutralised ?

jebuscries      ( Date: 07-May-2025 14:56) Posted:

Looks like DPU will continue to come under pressure. Without the capital distribution, the DPU would have fallen below 3 cents. 
FLCT has made a number of questionable acquisitions since 2022. SH ought to make Manager accountable. Taking on debt in an high int rate environment buying assets of suspect quality (UK biz parks really?).   
FLCT used to have an enviable gearing lower than 30%. In 2022, its DPU was 7.6 cents. Today, DPU is falling below 6 cents, despite FLCT gearing level rising from mid-20% to now approaching 40%, 
Shareholders gotta ask whether the current Managers are worth the millions paid to them yearly.
 

 Useful To Me  Not Useful To Me
jebuscries
Member
07-May-2025 14:56     
 
jebuscries About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin 		Looks like DPU will continue to come under pressure. Without the capital distribution, the DPU would have fallen below 3 cents. 
FLCT has made a number of questionable acquisitions since 2022. SH ought to make Manager accountable. Taking on debt in an high int rate environment buying assets of suspect quality (UK biz parks really?).   
FLCT used to have an enviable gearing lower than 30%. In 2022, its DPU was 7.6 cents. Today, DPU is falling below 6 cents, despite FLCT gearing level rising from mid-20% to now approaching 40%, 
Shareholders gotta ask whether the current Managers are worth the millions paid to them yearly.
 
 Useful To Me  Not Useful To Me


john_ric
Supreme
07-May-2025 13:18     
 
john_ric About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin 		market over reacted. will go back to 0.92.
 Useful To Me  Not Useful To Me
guiren
Veteran
07-May-2025 11:05     
 
guiren About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin 		Thank you halleluyah.

halleluyah      ( Date: 07-May-2025 10:43) Posted:

1H DPU drop 13.8%......

guiren      ( Date: 07-May-2025 10:13) Posted:

Why dropped so much ?? Can enlightened
 Useful To Me  Not Useful To Me
halleluyah
Supreme
07-May-2025 10:43     
 
halleluyah About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin 		1H DPU drop 13.8%......

guiren      ( Date: 07-May-2025 10:13) Posted:

Why dropped so much ?? Can enlightened?

infoshare      ( Date: 29-Apr-2025 16:21) Posted:


https://sbr.com.sg/commercial-property/news/flct-maintains-943-occupancy-positive-rent-reversions-in-q1-2025

FLCT maintains 94.3% occupancy with positive rent reversions in Q1 2025



FLCT reported 175,000 sq m of active leases and renewals in Q1 2025.

Frasers Logistics & Commercial Trust (FLCT)  has maintained a portfolio occupancy of 94.3% in Q1 2025, with 175,000 sq m of active leases and renewals, achieving overall positive rent reversions.

The occupancy rate for its Logistics & Industrial portfolio stood at 99.6%, whilst its Commercial portfolio was at 85.5%.

FLCT' s portfolio currently comprises 114 properties across five developed countries, with a total value of $6.8b.

Its top 10 tenants, which contribute 25.3% of the portfolio' s gross rental income, include the Commonwealth of Australia, Hermes, Germany, CEVA Logistics, Google, Rio Tinto, BMW, FDM Warehousing, DSV, Commonwealth Bank of Australia, and Techtronic.


 Useful To Me  Not Useful To Me
guiren
Veteran
07-May-2025 10:13     
 
guiren About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin 		Why dropped so much ?? Can enlightened?

infoshare      ( Date: 29-Apr-2025 16:21) Posted:


https://sbr.com.sg/commercial-property/news/flct-maintains-943-occupancy-positive-rent-reversions-in-q1-2025

FLCT maintains 94.3% occupancy with positive rent reversions in Q1 2025



FLCT reported 175,000 sq m of active leases and renewals in Q1 2025.

Frasers Logistics & Commercial Trust (FLCT)  has maintained a portfolio occupancy of 94.3% in Q1 2025, with 175,000 sq m of active leases and renewals, achieving overall positive rent reversions.

The occupancy rate for its Logistics & Industrial portfolio stood at 99.6%, whilst its Commercial portfolio was at 85.5%.

FLCT' s portfolio currently comprises 114 properties across five developed countries, with a total value of $6.8b.

Its top 10 tenants, which contribute 25.3% of the portfolio' s gross rental income, include the Commonwealth of Australia, Hermes, Germany, CEVA Logistics, Google, Rio Tinto, BMW, FDM Warehousing, DSV, Commonwealth Bank of Australia, and Techtronic.

 Useful To Me  Not Useful To Me


infoshare
Senior
29-Apr-2025 16:21     
 
infoshare About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin
https://sbr.com.sg/commercial-property/news/flct-maintains-943-occupancy-positive-rent-reversions-in-q1-2025

FLCT maintains 94.3% occupancy with positive rent reversions in Q1 2025



FLCT reported 175,000 sq m of active leases and renewals in Q1 2025.

Frasers Logistics & Commercial Trust (FLCT)  has maintained a portfolio occupancy of 94.3% in Q1 2025, with 175,000 sq m of active leases and renewals, achieving overall positive rent reversions.

The occupancy rate for its Logistics & Industrial portfolio stood at 99.6%, whilst its Commercial portfolio was at 85.5%.

FLCT' s portfolio currently comprises 114 properties across five developed countries, with a total value of $6.8b.

Its top 10 tenants, which contribute 25.3% of the portfolio' s gross rental income, include the Commonwealth of Australia, Hermes, Germany, CEVA Logistics, Google, Rio Tinto, BMW, FDM Warehousing, DSV, Commonwealth Bank of Australia, and Techtronic.
 Useful To Me  Not Useful To Me
yxtteiluj
Member
27-Mar-2025 10:26     
 
yxtteiluj About Contact  Quote this Post!  
  x 1
  x 0

 Alert Admin
https://www.businesstimes.com.sg/companies-markets/s-reits-surge-banks-decline-see-beginnings-rebound

" Trade tensions in global markets were evident in the performance of global banks in recent weeks. The Singapore trio of DBS, OCBC and UOB averaged declines of 1.4 per cent. At the same time, recent US inflation data came in below expectations, with concerns about the weakening growth outlook in the US.

Despite the recent broad market downturn, Singapore real estate investment trusts (S-Reits) rebounded strongly with the iEdge S-Reit Index gaining close to 5 per cent over the past two weeks.

Larger market-capitalisation S-Reits have also led the sector& rsquo s recent gains. Within the Straits Times Index (STI), the seven S-Reits averaged 5.6 per cent gains over the past two weeks."

looks like reits got opportunities this year! saw this event reits symposium coming up, not sure if anyone going to see see look look? can register early bird here https://shareinve.st/1tsm
 Useful To Me  Not Useful To Me
angmohlin
Veteran
14-Feb-2025 16:29     
 
angmohlin About Contact  Quote this Post! Style: Combined  
  x 0
  x 0

 Alert Admin

Will Frasers L& C Trust lose their STI component status since they have dropped 27.7% from 19 Sep 24? Till then, their price shall drop further to disaster price level.
 Useful To Me  Not Useful To Me
PiRPiR
Veteran
07-Feb-2025 23:53     
 
PiRPiR About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin 		Analysts keep ?buy? on FLCT following rosy 1QFY2025 update

===== pay wall ========


https://www.theedgesingapore.com/capital/brokers-calls/analysts-keep-buy-flct-following-rosy-1qfy2025-update
 Useful To Me  Not Useful To Me
PiRPiR
Veteran
05-Feb-2025 14:48     
 
PiRPiR About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin 		11:49 PM EST, 02/04/2025 (MT Newswires) -- Frasers Logistics & Commercial Trust (SGX:BUOU) reported an occupancy rate of 94.3% for the fiscal first quarter ended Dec. 31, 2024, according to a filing with the Singapore Exchange on Tuesday.

Weighted average lease expiry or WALE stood at 4.6 years, while the trust leased around 175,000 square meter of space during the period.

The trust reported a total portfolio value of SG$6.8 billion across 114 properties as of Dec. 31, 2024.

Shares of the trust were up over 2% in recent trading.
 Useful To Me  Not Useful To Me
PiRPiR
Veteran
23-Dec-2024 13:54     
 
PiRPiR About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin 		12:25 AM EST, 12/23/2024 (MT Newswires) -- Frasers Logistics & Commercial Trust's (SGX:BUOU) manager, Frasers Logistics & Commercial Asset Management, has named Ng Wah Keong as its Chief Financial Officer, effective Feb. 3, 2025.

Keong will replace Tricia Yeo Whay Teng, who is stepping down due to a leave of absence, according to a filing with the Singapore Exchange on Friday.
 Useful To Me  Not Useful To Me
sanvan
Senior
03-Dec-2024 13:49     
 
sanvan About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin 		last refinancing interest cost in 2024 was 3.1%.
For 2025, $556m needs to refinanced. If interest goes up say, 1% (from 2.x% to 3.x%), the interest cost for this would go up by $5m. Easily covered by backfilling vacant space. No? Did I miss something? How to get this JP Morgan report? any idea?

luckyguy3      ( Date: 03-Dec-2024 13:28) Posted:

The analyst is expecting FLCT' s costs of debt to spike as it' s current low interest fixed loans are maturing. From current of 2.x% to near to 3.5% or even 4% if interest
rate cuts slow.
So he expecting FLCT DPU to drop to 6 cents or even below. So FLCT trades at $1, it would mean a yield of 6%.
FLCT has almost all it' s assets overseas , so it is also facing currency violatility.

BUT if u look at MLT or Ascendas, both are safer as they have more assets in Singapore and also both are " bluer" chip compared to FLCT and both
costs of debt are not spiking, both giving almost 6% yield right now.

So investors would not buy FLCT at $1, they would rather buy MLT or Ascendas.

So if FLCT trades at 85 cents, yield would be 7%, this would give a premium for investors to buy FLCT instead.

sanvan      ( Date: 03-Dec-2024 12:33) Posted:

Makes me wonder why the JP Morgan analyst calls for a sell resulting in the counter dropping. His target is 85c.

Any one knows what his reasons are and why he differs so much from others? 

Already at this price, yield is more than 7% against a risk free rate of say ard 3% in SG. Even with a slight drop in yield due to refinancing at higher rates, the yield is sufficently attractive. 

Should be at $1. but languishing at 92c. 
Today' s volume till lunch  is a low 3m shares. Market awaiting US jobs data this week. Sideline I suppose. 
 Useful To Me  Not Useful To Me
luckyguy3
Veteran
03-Dec-2024 13:28     
 
luckyguy3 About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin 		The analyst is expecting FLCT' s costs of debt to spike as it' s current low interest fixed loans are maturing. From current of 2.x% to near to 3.5% or even 4% if interest
rate cuts slow.
So he expecting FLCT DPU to drop to 6 cents or even below. So FLCT trades at $1, it would mean a yield of 6%.
FLCT has almost all it' s assets overseas , so it is also facing currency violatility.

BUT if u look at MLT or Ascendas, both are safer as they have more assets in Singapore and also both are " bluer" chip compared to FLCT and both
costs of debt are not spiking, both giving almost 6% yield right now.

So investors would not buy FLCT at $1, they would rather buy MLT or Ascendas.

So if FLCT trades at 85 cents, yield would be 7%, this would give a premium for investors to buy FLCT instead.

sanvan      ( Date: 03-Dec-2024 12:33) Posted:

Makes me wonder why the JP Morgan analyst calls for a sell resulting in the counter dropping. His target is 85c.

Any one knows what his reasons are and why he differs so much from others? 

Already at this price, yield is more than 7% against a risk free rate of say ard 3% in SG. Even with a slight drop in yield due to refinancing at higher rates, the yield is sufficently attractive. 

Should be at $1. but languishing at 92c. 
Today' s volume till lunch  is a low 3m shares. Market awaiting US jobs data this week. Sideline I suppose. 

PiRPiR      ( Date: 12-Nov-2024 16:53) Posted:

11:21 PM EST, 11/11/2024 (MT Newswires) -- Frasers Logistics & Commercial Trust (SGX:BUOU) has an average rating of outperform and price targets ranging from SG$1.26 to SG$1.63, according to analysts polled by Capital IQ.
 Useful To Me  Not Useful To Me
                                                         First   1-20 of 740   Older>   Last  



ShareJunction Version: 27 Nov 2020 ver- All Rights Reserved. Copyright ShareJunction Pte. Ltd. Disclaimer: All prices from are delayed. ShareJunction does not provide you with any financial advice. We are not into the business of providing any investment advice. See our Terms and Conditions and Privacy Policy of using this website. Data is delayed for varying periods of time depending on the exchange, but for at least 15 minutes. Copyright © SIX Financial Information Ltd. and its licensors. All Rights reserved. Further distribution and use by third parties prohibited. SIX Financial Information and its licensors make no warranty for information displayed and accept no liability for data and prices. SIX Financial Information reserves the right to adapt and/or alter this website at any time without prior notice.

Web design by FoundationFlux. Hosted with Signetique Cloud.