Tuesday, January 18, 2022

Frasers Centrepoint Trust (FCT) AGM 2022


Frasers Centrepoint Trust (FCT) held their AGM today at 10am and it ended at 10.47am.

Shareholders questions were answered before the actual AGM. You can view FCT responses Part 1 and Part 2.

I like this approach as this can allow unsatisfactory answer to be raised again (if any) during the live AGM. This also show confidence of FCT Management. 

There are less than 10 questions submitted during the live AGM session and below are the summary:

1) How will the interest rate hike impact FCT?

FCT debt are quite evenly spread out, thus will not have any huge impact to FCT in any particular year

2)   Is FCT looking to expand oversea?

FCT main focus now is still in Singapore. 

3) How do FCT ensure DPU grow year on year?

Via the Growth strategies slide the 3 engines

4) Hektar REIT Malaysia performance concern

FCT purchase Hektar REIT many years ago and have been enjoying some good payout for past few years. The performance concern is due to COVID and hopefully Malaysia retail will pick up soon.

5) Will SG GST hike affect DPU payout?

Should not have much effect as 54.4% of FCT portfolio are essential services. DPU payout largely depend on the rental collected.

There is not much surprise element in FCT AGM 2022.

Related post:

1) Added: Frasers Centrepoint Trust (Jan 2022)

2) Added: Frasers Centrepoint Trust (Sep 2021)

3) ComfortDelGro AGM 2021

4) First REIT AGM 2020

5) MM2 AGM 2019

6) Perennial AGM 2019

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