Frasers Commercial Trust
Frasers Commercial Trust (“FCOT”) formerly known as Allco Commercial REIT was listed on the main board of the Singapore Stock Exchange on 30 March 2006. Since 14 August 2008, Frasers Centrepoint Asset Management (Commercial) Ltd (“FCAMCL”) has been the manager of FCOT through its acquisition of the former management company and its holding in the REIT.
Its current portfolio consists of nine quality office buildings located in Singapore, Australia and Japan and an unlisted office fund in Australia.
The brief
We were appointed to value its first Singapore property for its IPO in 2006 and thereafter in mid-2006 and 2007 we valued its two subsequent acquisitions. Revaluations of all three properties carried out over 2008 - 2009 were for the purpose of mortgage security, financial statements and disclosure in the annual reports.
The client
Frasers Commercial Trust
Our solution
We advised on the market values of properties in the Singapore portfolio and provided full set of valuation reports and documents prepared in strict compliance of the reporting guidelines and requirements of the Singapore Stock Exchange, the REIT Manager and FCOT’s lenders. In addition we cleared all questions relating to valuation issues raised by the lending institutions and/ or the regulatory bodies and the stock exchange within strict time schedules. The three commercial buildings in its current Singapore portfolio have a combined lettable floor area in excess of 750,000 sq. ft.
How we added value
FCOT (Allco Commercial REIT) was successfully listed on the Singapore Stock Exchange on 30 March 2006. Subsequently we continued to provide our due diligence services to the client in its search for investment properties in Singapore. We are currently retained as property tax consultant for one of FCOT’s buildings.
