Frasers Centrepoint Trust Q2 NPI up 6.9% to $34.8m

The revamp of Northpoint City North Wing allowed it to recover revenue.

Frasers Centrepoint Trust (FCT) is on a tear as its Q2 net property income (NPI) grew 6.9% YoY from $32.56m to $34.8m. According to its financial statement, gross revenue also jumped 6.3% YoY to $48.6m.

OCBC Investment Research analyst Andy Wong Teck Ching commented, “This increase was driven largely by a recovery in revenue from Northpoint City North Wing following completion of its asset enhancement initiative (AEI).”

FCT’s distribution per unit (DPU) rose 2% YoY to 3.1 cents. Distributable income was $29.26m, which was 2.7% higher than last year.

For the first half year, gross revenue leapt 7.5% to $96.5m, whilst DPU jumped 2.9% to 6.1 cents.

Overall portfolio occupancy inched up 1.4 ppt to 94.0%, whilst average portfolio rental reversion came in strongly at 9.1%, underpinned by the lease renewal of an anchor tenant with a 18.9% rental reversion.

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia