In a March 14 report, lead analyst Andy Wong Teck Ching attributes the underperformance to lease renewal uncertainties for tenants, Hewlett-Packard (HP) Singapore and Hewlett-Packard Enterprise Singapore, at its Alexandra Technopark (ATP) property.
SINGAPORE (March 14): OCBC is maintaining its “buy” on Frasers Commercial Trust (FCOT) with $1.39 fair value given its recent share price fall on uncertainties over renewal leases.
Year to date, FCOT’s share price has declined by 0.8%, underperforming the FTSE ST REIT Index and STI which have risen by 4.0% and 9.2% respectively.
