Frasers Centrepoint Trust · SGX:J69U
Frasers Centrepoint Trust — Merger or Acquisition (March 2025)
20 slides from Frasers Centrepoint Trust's merger presentation, March 2025
Slide 1: Frasers Centrepoint Trust
Frasers Centrepoint Trust Presentation in relation to the Proposed Acquisition of 100% interest in Northpoint City South Wing and its Trustee-Manager as an interested person transaction March 2025
Slide 2: Important Notice
Important Notice This presentation shall be read in conjunction with Frasers Centrepoint Trust’s (“FCT“) announcement dated 25 March 2025 titled “THE PROPOSED ACQUISITION OF THE 100.0% INTEREST IN NORTH GEM TRUST AND THE 100.0% INTEREST IN ITS TRUSTEE-MANAGER AS AN INTERESTED PERSON TRANSACTION”. Ce
Slide 3: Overview of the Acquisition
Overview of the Acquisition • Acquisition of 100% interest in Northpoint City South Wing (“NPCSW”) and Frasers Property North Gem Trustee Pte. Ltd., being the trustee-manager of North Gem Trust (the "Trustee-Manager” or “NG Trust”, and collectively the Acquisition acquisition of NPCSW and the Truste
Slide 4: Overview of NPCSW
Overview of NPCSW #1 #1 Highest shopper traffic among Largest prime suburban mall in FCT Retail Portfolio and North Region of Singapore growing at 9.6% CAGR (2020-2024) 100% 8.0% Location 1 Northpoint Drive, Singapore 768019 committed occupancy NPI CAGR between FY2020(3) Shopping mall with 2-storey
Slide 5: Acquisition of 100% Interest in NPCSW
Acquisition of 100% Interest in NPCSW 1 Well-performing suburban mall with high quality tenant mix 2 Consolidates FCT’s interest in NPC under a single ownership 3 Primed to benefit from North Region’s revitalisation into a key work-live-play region 4 Strengthens FCT’s position as the largest owner i
Slide 6: Strong Performance Backed by a Quality Tenant Base
1 Strong Performance Backed by a Quality Tenant Base Operational outperformance of NPC given the quality of tenant mix and retail offerings across North and South Wings Net property income psf of NPCSW grew at 8.0% CAGR(1) Strong retail offering leading to outperformance vs comparable malls(2) Net P
Slide 7: Dense and Growing Catchment Ensures Resilient Demand
1 Dense and Growing Catchment Ensures Resilient Demand NPC poised to benefit from high (and growing) population density, limited competition and sizeable non-discretionary trade offering Population density (per sq km) High population density in catchment area 10,214 • Catchment area has a population
Slide 8: Well-located with Excellent Transport Connectivity
1 Well-located with Excellent Transport Connectivity Easily accessible to shoppers and highly demanded by tenants seeking prime locations Existing and upcoming transportation network Nee Soon East CC National Library Highest Shopper Well-served by bus Directly connected to Traffic within FCT routes
Slide 9: Unlocking Multiple Potential Growth Synergies via Single Ownership
2 Unlocking Multiple Potential Growth Synergies via Single Ownership Well-positioned to execute AEIs and optimise retail performance to synergistically unlock value across both the North and South Wings Ilustrative value-add initatives post acquisition(1) • Remove secondary corridors and improve qua
Slide 10: Allows Shoppers to Enjoy Continued and Seamless Access
2 Allows Shoppers to Enjoy Continued and Seamless Access Acquisition ensures enhanced accessibility to key transport nodes and community amenities Boundary split between North Wing and South Wing Connected and serves as the only point of access to the Yishun Integrated Transport Hub Yishun Public Li
Slide 11: Potential to Achieve a Higher NPI Margin from the Acquisition
2 Potential to Achieve a Higher NPI Margin from the Acquisition Improved revenue and operational efficiencies could potentially deliver higher NPI yield Potential increase in NPI margin after acquisition FY2024 NPI Margin (%) Unlocking additional value vis-à-vis potential 74.2% increase in NLA and h
Slide 12: Positive Effect from Upcoming Developments in North Region
3 Positive Effect from Upcoming Developments in North Region Higher shopper traffic from growth of working and residential catchment population Key developments 1 Woodlands Regional Centre 2 Agri-Food Innovation Park 3 North Agri-Tech Food Corridor Enhanced transportation networks 1 North-South Corr
Slide 13: Future Residential Supply is Expected to Increase Shopper Footfall
3 Future Residential Supply is Expected to Increase Shopper Footfall New residential units and amenities will boost the area's population, increasing shopper footfall and spending at NPC Significant expected increase in catchment population growth by 2031 1 A B C A + B + C Existing Mid-term Longer-t
Slide 14: Complete Ownership of Largest Prime Suburban Mall in North Region
4 Complete Ownership of Largest Prime Suburban Mall in North Region FCT is the largest suburban retail space owner and "Landlord of Choice“ for retailers Top 10 largest retail malls outside the Singapore central area by NLA (thousand sq. ft) (1) 720 635 #1 Largest prime suburban mall in North of Sin
Slide 15: Consolidates FCT as the Market Leader in the Prime Suburban Retail Market
4 Consolidates FCT as the Market Leader in the Prime Suburban Retail Market Acquisition boosts FCT’s market share in suburban retail malls, enhancing its ability to attract and retain retailers Strengthens FCT’s position as the #1 suburban retail landlord Reinforces resiliency and attractiveness of
Slide 16: Visible Growth Levers that Create Additional Value for Unitholders
5 Visible Growth Levers that Create Additional Value for Unitholders Rental growth supported by limited supply and healthy demand Limited supply of retail pipeline + Strong demand for retail floorspace = Healthy demand / supply dynamics to support rental growth Future Supply Pipeline Private Retail
Slide 17: Acquisition is expected to be DPU Accretive Based on Pro Forma Financials
6 Acquisition is expected to be DPU Accretive Based on Pro Forma Financials Based on S$400 million Equity Fund Raising and issuance of Perpetual Securities of S$200 million, Unitholders are expected to enjoy a DPU accretion of 2.0% following the Acquisition Pro Forma DPU(1),(2),(3),(4) Pro Forma Agg
Slide 18: Total Acquisition Cost
Total Acquisition Cost Estimated total acquisition costs will amount to S$1,172.9 million Total Acquisition Cost (S$ million) Acquisition Price 375.2 Acquisition Fee(1) 11.3 Acquisition Related Cost & Expenses 1.4 NG Trust Bank Loans(2) 785.0 Estimated Total Acquisition Costs 1,172.9 The Manager int
Slide 19: Strengthening Portfolio; Delivering Sustainable Growth for Unitholders
Strengthening Portfolio; Delivering Sustainable Growth for Unitholders High-Quality Well-Positioned Reinforces FCT’s Multiple Integrated Work- to Capture position as the Growth Levers Live-Play Zone in Shopper & Largest Retail from Single Expected to be the North Region Tenant Demand Landlord Owners
Slide 20: Inspiring experiences, creating places for good.
Inspiring experiences, creating places for good.
Frasers Centrepoint Trust — Merger or Acquisition (March 2025) on 6ix