Business Updates
for the nine months ended 30 June 2023
8 August 2023
Tampines 1, Singapore
Important notice
- Statements in this presentation constitute "forward-looking statements", including forward-looking financial information. Such forward-looking statements and financial information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Frasers Property Limited ("Frasers Property" or the "Company") and its subsidiaries (together with Frasers Property, the "Group"), or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements and financial information. Such forward-looking statements and financial information are based on numerous assumptions regarding the Group's present and future business strategies and the environment in which the Group will operate in the future. Because these statements and financial information reflect Frasers Property's current views concerning future events, these statements and financial information necessarily involve risks, uncertainties and assumptions. Actual future performance could differ materially from these forward-looking statements and financial information as a result of these risks, uncertainties and assumptions and you are cautioned not to place undue reliance on these statements and financial information.
- Frasers Property expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement or financial information contained in this presentation to reflect any change in Frasers Property's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement or information is based, subject to compliance with all applicable laws and regulations and/or the rules of the Singapore Exchange Securities Trading Limited (the "SGX-ST") and/or any other regulatory or supervisory body or agency.
- This presentation includes market and industry data and forecast that have been obtained from internal survey, reports and studies, where appropriate, as well as market research, publicly available information and industry publications. Industry publications, surveys and forecasts generally state that the information they contain has been obtained from sources believed to be reliable, but there can be no assurance as to the accuracy or completeness of such included information. While Frasers Property has taken reasonable steps to ensure that the information is extracted accurately and in its proper context, Frasers Property has not independently verified any of the data from third party sources or ascertained the underlying economic assumptions relied upon therein.
- Nothing in this presentation should be construed as financial, investment, business, legal or tax advice and you should consult your independent advisors.
- Any discrepancies in the figures included herein between the listed amounts and total thereof are due to rounding.
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Glossary
Frasers Property entities
ARF : AsiaRetail Fund Limited | FTREIT : Frasers Property Thailand Industrial |
FCT : Frasers Centrepoint Trust | Freehold & Leasehold REIT |
FCOT : Frasers Commercial Trust | GOLD : Golden Land Property Development |
FHT : Frasers Hospitality Trust | Public Company Limited |
FLT : Frasers Logistics & Industrial Trust | GOLDPF : Gold Property Fund |
FLCT : Frasers Logistics & Commercial Trust | GVREIT : Golden Ventures Leasehold Real |
FPA : Frasers Property Australia | Estate Investment Trust |
FPHT : Frasers Property Holdings Thailand Co., Ltd | The Group : Frasers Property Limited, together |
FPI : Frasers Property Industrial | with its subsidiaries |
FPL or Frasers Property : Frasers Property Limited | |
FPT : Frasers Property (Thailand) Public Company | |
Limited | |
Other acronyms | |
ADR : Average daily rate | NSW : New South Wales |
AEI : Asset enhancement initiative | QLD : Queensland |
AOR : Average occupancy rate | Q-o-Q :Quarter-on-quarter |
ARR : Average rental rate | REIT : Real estate investment trust |
AUM : Assets under management | RevPAR : Revenue per available room |
FY : Financial year | SBU : Strategic business unit |
GDP : Gross domestic product | sqm : Square metres |
GDV : Gross development value | UK : United Kingdom |
GFA: Gross floor area | VIC : Victoria |
JV : Joint venture | WALE : Weighted average lease expiry |
N/M: Not meaningful | Y-o-Y :Year-on-year |
NLA : Net lettable area |
Additional notes
- In the tables, the arrow direction indicates the increase (up) or decrease (down) of the absolute figure. The colour indicates if the change is positive (green), negative (red) or neutral (black). Any change over 200% is indicated as N/M.
- In the tables and charts, any discrepancy between individual amount and the aggregate is due to rounding.
- All exchange rates are as at period end, unless otherwise stated.
-
S$/A$ : 0.9014 o S$/€ : 1.4755
o S$/THB : 0.03840
o S$/1,000 VND : 0.05749
o S$/RMB : 0.1884
o S$/£ : 1.7171
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Contents
Business Landscape and Key Highlights
Business Unit Highlights
- Singapore
- Australia
- Industrial & Logistics
- Hospitality
- Thailand & Vietnam
- Others
Balance Sheet Highlights
Looking Forward
The PARQ, Bangkok, Thailand | 4 |
Business landscape
Focused on enhancing organisational agility to navigate macro developments and sustain business relevance
Interest rate hikes and volatile foreign currency movements
- Disciplined capital management with mitigating measures in place for both business operations and funding structures
- High proportion of fixed rate debt mitigates the effects of higher interest rates, although there will be an impact on the average cost of debt on a portfolio basis as the Group refinances debt moving forward
- Natural hedging mitigates effects of foreign currency volatility
Potential asset repricing and recessionary risks
- Maintain focus on value creation through rigorous approach towards asset management - S$3.4 billion of total gross fair value change over the past five financial years from FY18 to FY22
- Proactively manage risk exposures arising from macro developments while being balanced in seeking opportunities that may arise
Structural changes and shifting
demographics affecting the
real estate sector
- Ensure we remain relevant to the market amid structural trends and landscape changes
- Continue to invest in and deepen core capabilities such as digitalisation and sustainability across the Group
- Focus on investing in alignment with sectoral structural trends
- Deepen asset class capabilities through Groupwide asset class centres of excellence, while continuing to leverage on strong local country platforms
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Disclaimer
Frasers Property Limited published this content on 08 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 August 2023 12:36:34 UTC.