PROPERTY group Frasers Centrepoint Limited (FCL) has inked a conditional deal for its unit to invest 13.23 billion baht or about S$520 million in Thailand-listed industrial property developer Ticon Industrial Connection, it said in a Singapore Exchange filing on Monday morning.

FCL said its unit has proposed to invest in Ticon via a private placement at a subscription price of 18 baht per share, representing a premium of 13.6 per cent over Ticon' s 30-day volume weighted average price.

Following the completion of the transaction, its unit will hold around 40 per cent of Ticon' s enlarged share capital, it said. FCL shares rose half a cent to S$1.495 on Friday.

OCT 6, 20166:41 PM

This family is very very very big...Fraser is a small portion of their holdings...

 

Forbes personal net worth put them at 16.1b...to put things in prespective singapores richest men Robert & Philip Ng are $8.7B

 

In a deal-making spree, liquor tycoon Charoen Sirivadhanabhakdi made big moves to expand his empire' s footprint both overseas and in his home market. After concluding the purchase of the Vietnamese unit of German cash-and-carry firm Metro for $711 million, he inked a $3.3 billion deal with France' s Casino Groupe for a 59% stake in hypermarket operator Big C Supercenter Thailand. He agreed to buy a further 25% for an estimated $1.4 billion from the Chirathivat clan.  Last year, his Singapore-listed Frasers Centrepoint bought MHDV Holdings, a U.K. boutique hotel operator for $575 million. But Charoen' s biggest asset remains his controlling stake in Thai Beverage, maker of Chang beer.

 

 

 

DBS Research

The sale of United Engineers is in the lime light again! A rare opportunity to gain access to a quality property portfolio built on 999-year leasehold/freehold land Among major listed developers, Frasers Centrepoint and City Developments have assets that are most similar to UE&rsquo s portfolio Based on past privatizations at average of 1.0x P/NAV, acquisition of UE at NAV of S$2.75 per share implies a 10% upside to current price. If it materializes, this could lead to a re rating of developers who are trading at an average of 0.75 P/NAV. 

 

SINGAPORE-LISTED Frasers Centrepoint Limited (FCL) on Friday said Panote Sirivadhanabhakdi' s appointment as group chief executive will take effect on Oct 1, 2016.

He will take over from Lim Ee Seng, who has been group CEO for about 12 years. 

In filings to the Singapore Exchange (SGX), it said as earlier announced, Mr Panote has relinquished his role as CEO of Univentures Public Company Limited, Thailand, with effect from Sept 30, 2016.

FCL said he continues to be a non-executive director of Univentures Public Company Limited.

 

Previously, it was also reported that Mr Panote, who is a director of the company, will step down as a member of the remuneration committee, and Chan Heng Wing, a non-executive independent director of the company, will be appointed a member of the remuneration committee in his place, with effect from Oct 1.

The remuneration committee will therefore comprise chairman Philip Eng Heng Nee and members Charles Mak Ming Ying and Mr Chan.

Amendment note:  The previous article mentioned that Mr Lim Ee Seng has been group CEO for seven years. The article has been amended to reflect that it should have been 12 years.