“Looking ahead, we believe the key challenges for the retail sector are rising inflation curbing discretionary spending, increasing cost pressures from manpower and utility costs on retail tenants, and higher GST charges kicking in,” says Natarajan.
RHB Group Research analyst Vijay Natarajan has kept a “neutral” rating on Frasers Centrepoint Trust (FCT) with a target price of $2.45.
In his report dated July 1, Natarajan observes that FCT’s suburban malls have been performing steadily year-to-date (ytd) for the FY2022 ending September, with ytd-April portfolio tenant sales at 9%, which is at above pre-Covid-19 levels.
