The research house is reiterating its “buy” call on FCOT at an unchanged target price of $1.65.
SINGAPORE (July 11): DBS Vickers Securities is positive on Frasers Commercial Trust’s (FCOT) recent disposal of its commercial property at 55 Market Street, highlighting the move as one that unlocks value and opportunities for capital recycling.
FCOT is expecting to book a net gain of about $76.5 million once the transaction is completed by end-Aug this year, and intends to use proceeds from the divestment to repay existing debt. While the purchaser of 55 Market Street was not named, DBS understands the buyer is a fund.
