Frasers Centrepoint weighs $470m White Sands divestment

The trust's manager signals regulatory disclosure pathway remains open pending material development.

Frasers Centrepoint Trust (FCT) is in discussions to divest White Sands mall for more than $470m, Frasers Centrepoint Asset Management Ltd, the trust’s manager, said in a press release.

The manager confirmed that it is currently engaged in discussions for a possible divestment of the asset. It said it regularly reviews acquisition and divestment opportunities as part of its mandate and may enter such discussions from time to time.

Frasers Centrepoint Asset Management said there is no certainty that any transaction will result from the ongoing discussions.

The manager added that it will announce any material developments via SGXNET in accordance with the listing requirements of the Singapore Exchange Securities Trading Limited.

It also advised unitholders and investors to exercise caution when dealing in units of FCT and to seek professional advice where necessary.