Frasers Property Limited's net profit to fall 7.9% to $571m in 2018

This is due to the weakening of AUD/SGD exchange rate.

DBS Group Research reported its forecast of Frasers Property Limited (FPL)’s net profit, decreasing by 7.9% YoY from $620m in 2017 to $571m this year, which is highly due to its Australian portfolio.

“The group derives an estimated 30% of PBIT from Australia which is dependent on the real estate market there, and whose returns could be impacted by the weakening AUD/SGD exchange rate,” DBS Research said.

Further, FPL’s stock has a low free float that could lead to low liquidity, with 87.9% held by TCC Group and Thai Beverage, DBS Research said.

Singapore Business Review also previously reported that its profit dipped by 46% to $136.77 in Q1 due to a decline in profit from its Europe and Asia strategic business units (SBU).

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