Frasers Centrepoint Trust · SGX:J69U
Frasers Centrepoint Trust — Merger or Acquisition (January 2023)
17 slides from Frasers Centrepoint Trust's merger presentation, Jan 26, 2023
Slide 1: Frasers Centrepoint Trust: acquisition of 50% interest in NEX
Frasers Centrepoint Trust Frasers Property Group to acquire 50.0% interest in prime suburban retail mall NEX for S$652.5 million 26 January 2023 NEX, Singapore
Slide 2: Important Notice
Important Notice This presentation shall be read in conjunction with Frasers Centrepoint Trust’s (“FCT”) announcement “PROPOSED JOINT ACQUISITION OF 50% OF GOLD RIDGE PTE LTD WHICH HOLDS PROPERTY AT 23 SERANGOON CENTRAL” dated 26 January 2023. This presentation may contain forward-looking statements
Slide 3: Contents
Contents 1. Highlights of transaction page 4 2. Investment rationale page 6 3. Summary page 13 4. Appendix page 15 We are Frasers Property 3
Slide 4: Highlights of transaction
Highlights of transaction Acquiring stake in one of Singapore’s largest suburban retail properties ▪ FCT and Frasers Property to jointly acquire 50.0% interest in Gold Ridge Pte Ltd, the entity that holds retail property NEX, for S$652.5 million, subject to completion adjustments in accordance with
Slide 5: Highlights of the Property
Highlights of the Property High-quality suburban retail property with excellent connectivity to public transport network Property information as at 30 November 2022 Tenure • 99 years from 2008 (85 years remaining) Description • 7 levels of retail space including 2 basements (total 332 stores) Green
Slide 6: Investment rationale
Investment rationale NEX, Singapore
Slide 7: Investment rationale
Investment rationale Strategic benefits that deliver growth and value to FCT and its Unitholders High quality asset with Greater diversification and excellent connectivity and reinforces FCT’s market position strategic fit to FCT’s Retail in the suburban retail sector. Portfolio. Consistent with the
Slide 8: High-quality asset with excellent connectivity and strategic fit
Investment rationale High-quality asset with excellent connectivity and a strategic fit to FCT’s Retail Portfolio FCT malls and NEX are well-connected to the MRT network ✓ NEX is one of the largest suburban retail malls in Singapore, and the largest in the Northeast region of Singapore. NEX ✓ Excell
Slide 9: Consistent with the Manager's investment strategy
Investment rationale Consistent with the Manager’s investment strategy FCT’s Retail Portfolio The acquisition is in line with the Manager's principal investment strategy to deliver regular and stable distributions to Unitholders: ✓ To acquire interests in quality income- producing properties used pr
Slide 10: Greater diversification of FCT's Retail Portfolio
Investment rationale Greater diversification of FCT’s Retail Portfolio Largest mall accounts for approximately Largest mall accounts for approximately 19% of retail portfolio NLA 17% of retail portfolio NLA White Sands NEX (25.5%) White Sands 7% 6% 6% Hougang Mall Hougang Mall 7% Changi City Point 7
Slide 11: Reinforces FCT's market position in the suburban retail sector
Investment rationale Reinforces FCT’s market position in the suburban retail sector ✓ Reinforces FCT’s market position in Share of Suburban Shopping Centre Floorspace by Owner1 the Singapore suburban retail space and enhances its competitive CapitaLand Integrated Commercial Trust 9.6% stake in NEX a
Slide 12: Acquisition to be DPU-accretive based on pro forma financials
Investment rationale Acquisition to be DPU-accretive based on historical pro forma financial information ✓ FOR ILLUSTRATIVE PURPOSES ONLY: The pro forma financial effects of the Transactions on FCT's DPU for FY2022, as if the Transactions were completed on 1 October 2021 and NP Trust held 50% of the
Slide 13: Summary
Waterway Point, Singapore Summary
Slide 14: Summary
Summary Frasers Property Group to acquire 50.0% interest in suburban retail mall NEX for S$652.5 million ▪ High-quality asset with excellent connectivity and a strategic fit to FCT’s Retail Portfolio. ▪ Greater diversification and reinforces FCT’s market position in the suburban retail sector. ▪ Agr
Slide 15: Appendix
2 GH Rint TRUST Appendix
Slide 16: Definition of terms used in this presentation
Definition of terms used in this presentation • Agreed Property Value: Refers to the agreed property value of S$2,077.8 • NEX Partners Trust: A 51:49 joint venture entity between FCT and Frasers Property. million which was negotiated between the Manager and Frasers Property (as • NLA: Net Lettable A
Slide 17: Inspiring experiences, creating places for good.
Inspiring experiences, creating places for good.
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