SRS Portfolio - 31 Oct 2021 (Frasers Centrepoint Trust)

Frasers Centrepoint Trust announced a good set of numbers for FY2021, where Revenue and Net Property Income ("NPI") more than doubled following the ARF acquisitions.

The 2H performance was weaker due to rental rebates and additional tenant assistance provided. Having said that, the Distribution Per Unit ("DPU") for the current year, improved by 33.7% to 12.085 Singapore cents. You can find the management presentation here.

Based on the DPU of 12.085 cents and the closing price of $2.27 on 30 Sep 2021, the trading yield was around 5.3%.

The distribution for 1 April to 30 Sep is 6.089 Singapore cents and the book will close on 5 Nov and be paid out on 29 Nov 2021.

Based on my 30,000 units in my SRS portfolio, the distribution will be $1,826.70.

For those not familiar with FCT, it is basically a pure play Singapore suburban retail REIT.

The gearing ratio remained conservative at 33.3% and the occupancy remained resilient at 97.3%. The NAV per unit is around $2.30 as of 30 Sep 2021.

Mr Richard Ng, Chief Executive Officer of FCAM, said, "We are pleased that FCT has delivered a good set of results for FY2021, mainly on the contributions from the ARF Acquisition. It has been another challenging year due to the COVID-19 situation, which has weighed on some tenants' businesses and shopper traffic to our malls. In this challenging time, we see omnichannel retailing as a viable way to help cushion the impact on our tenants and to generate additional sales. Since its launch in January this year, the sales from Frasers eStore have tripled; and the sales from the F&B concierge Makan Master grew seven times since its launch in April 2020. Going forward, we believe there is resilient demand for retail spaces within well-located and dominant suburban retail malls as the economy re-opens."

I added 10,000 Fraser Centerpoint Trust at $2.27 in Sep 2021 and will continue to build up my REITs portfolio over time, hoping to create a stream of passive income when I retire. This is how my SRS portfolio looks like as of 31 Oct. Still sitting on $191k cash to be deployed. 

I am also planning for my first overseas work trip at the end of the year, after more than 19 months of hiatus! I do miss traveling and glad that Singapore Airlines can now be on its way to recovery! Happy SRSing.