Frasers Centrepoint, a good investment after all

If you are looking for 5% interest yield, look no where else.

Buy Frasers Centrepoint. It's price now is $1.53.

The distributable income was 8.2 cents in for FY2010. That's 5% interest that no banks can give you.

Cheers.

October 26, 2010, 8.55 am (Singapore time)

FCT Q4 distribution income a record $16.5m
By BERNICE BONG

SINGAPORE - Frasers Centrepoint Trust (FCT) posted a record distribution income of $16.54 million for the fourth quarter ended Sept 30, 2010, up 29.3 per cent from a year earlier.

For the full financial year, distribution income totalled $59.18 million, a 26.1 per cent increase from last year.

Its distribution per unit (DPU) is 2.16 cents, 5.9 per cent higher from the 2.04 cents last year. This brings total DPU for FY2010 (Oct 1 2009 to Sept 30 2010) to a record 8.20 cents, a 9 per cent increase over the previous financial year.

Click here for FCT's news release

Gross revenue jumped 32 per cent year-on-year (y-o-y) to a record high of $114.7 million, boosted by the accretive acquisitions of Northpoint 2 and YewTee Point, and the successful revamp of Northpoint 1.

Net property income similarly surged 34 per cent y-on-y to $80.1 million.

Occupancy level remained high at 98.1 per cent, in spite of the ongoing refurbishment of Causeway Point.

Chief Executive Officer of the Manager of FCT, Dr Chew Tuan Chiong said, 'FCT generated 74 per cent total return for unitholders since listing in 2006. During the same period, FCT achieved four consecutive years of DPU growth with a compound annual growth rate of 8 per cent.'