Frasers Logistics & Commercial Trust
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
SGD 5.22 | Ksd | Lqsjslyl |
Frasers Logistics’ Q1 Fiscal 2023 Update In Line; U.K. Business Parks a Near-Term Drag
Frasers Logistics & Commercial Trust, or FLCT’s, first-quarter fiscal 2023 (ending September) business update was generally in line with our expectations. Compared with the previous quarter, portfolio occupancy rate was slightly pulled down to 95.9% from 96.4% by its U.K. business park portfolio that saw three tenants exercising their lease breaks to downsize their footprint at Maxis Business Park, or MBP, resulting in MBP’s occupancy rate declining to 66% this quarter from 100% in the previous quarter. That said, its logistics and industrial portfolio continues to demonstrate its resilience and remained 100% occupied.