DOCSLIB.ORG

View Annual Report

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text

Load more

ANNUAL REPORT 2017 STRONGER TOGETHER STRONGER TOGETHER STRONGER ANNUAL REPORT 2017 FRASERS CENTREPOINT LIMITED LIMITED CENTREPOINT FRASERS STRONGER TOGETHER FRASERS CENTREPOINT LIMITED Company Registration Number: 196300440G 438 Alexandra Road Top: Alexandra Point, Singapore #21-00 Alexandra Point Above left: Artist’s impression of Wonderland at Central Park, Sydney, New South Wales, Australia Above right: Watertown, Singapore Singapore 119958 ANNUAL REPORT 2017 Phone: +65 6276 4882 Fax: +65 6276 6328 fraserscentrepoint.com Untitled-2 1 27/9/16 12:02 PM STRONGER TOGETHER Beyond providing physical space, a building represents the successful combination of thoughtful design, curated experiences, and respectful stewardship. Like a blueprint, these elements form the foundation of a building. For this year’s annual report design, the Frasers Centrepoint group of companies chose to feature line drawings of our key properties – a symbolic representation of our role as designer, curator and steward, not only of our properties, but also of our Group. It represents our continuous efforts to build on solid foundations to transform our blueprints of growth for the Group into reality for our stakeholders. Frasers Centrepoint Limited (FCL) continued to build business resilience by growing our portfolio in a balanced manner across key markets and property segments. Leveraging our experience and expertise across business segments and markets to move forward as one, we were able to capitalise on complementary strengths to capture growth opportunities. We are well positioned to grow alongside our customers with a portfolio of residential, commercial, retail, hospitality, industrial and logistics, and business park assets across multiple geographies. At FCL, we are future-ready because we are stronger together. All figures in this Annual Report are in Singapore dollars unless otherwise specified Contents OUR UNIFYING IDEA EXPERIENCE MATTERS. We believe our customers’ experience matters. 2 Our Unifying Idea FCL Group Strategy When we focus on our customers’ needs we gain valuable 3 FCL Group at A Glance insights which guide our products and services. We create 6 Our Global Presence memorable and enriching experiences for our customers. 8 Our Milestones 10 Group Structure We believe our experience matters. 11 Financial Highlights 12 Board of Directors Our legacy is valuable and inspires our future successes. As a 18 Group Management multi-national business of scale and diversity, we can bring the 23 Corporate Information right expertise to the table to create value for our customers. 24 Chairman’s Statement We celebrate the diversity of our staff and the expertise they 26 Group CEO’s Statement bring, and we commit ourselves to enabling their professional 32 Business Review and personal development. Singapore Australia Hospitality International Business 76 Investor Relations 78 Treasury Highlights 80 Sustainability Report FCL GROUP 124 Awards and Accolades STRATEGY 130 Enterprise-Wide Risk Management 133 Corporate Governance Report SUSTAINABLE 165 Financial Statements EARNINGS GROWTH 310 Particulars of Group Achieve sustainable Properties earnings growth through 336 Interested Person significant development Transactions project pipeline, investment 337 Shareholding Statistics properties and fee income 339 Notice of Annual General Meeting Proxy Form BALANCED ACHIEVE SUSTAINABLE FCL Fact Sheet PORTFOLIO GROWTH AND Grow asset portfolio in a DELIVER LONG-TERM balanced manner across SHAREHOLDER VALUE geographies and property segments OPTIMISE CAPITAL PRODUCTIVITY Optimise capital productivity through Real Estate Investment Trust (REIT) platforms and active asset management initiatives FCL GROUP AT A GLANCE At Frasers Centrepoint Limited, the integrated portfolio Driven by a belief that experience matters, we deliver and services we provide across the property value chain quality property products and services that meet the are unified by our commitment to deliver enriching ever-evolving needs of businesses and communities. and memorable experiences for our customers and Across all our businesses, an unwavering respect for stakeholders. We have businesses in Singapore, Australia, people, partnerships and collaboration has been the Southeast Asia, China and Europe, and our well- foundation for how we conduct ourselves. We strive established hospitality footprint spans over 80 cities to ensure that our products and services are guided across Asia Pacific, Europe, Middle East and North Africa. by insights into the needs of our customers and create environments that our customers can thrive in. Our multi-national businesses operate across five asset classes and have a proven legacy of shaping successful Our legacy of strong leadership and expertise, residential, hospitality, retail, commercial, and industrial commitment to progress, and belief that experience and logistics properties, with assets totalling $27 billion matters at every moment, are key to our continued as at 30 September 2017. We are also a sponsor of four success. vehicles listed on the SGX-ST, comprising three REITs focused on retail, commercial, and industrial properties, and one stapled trust focused on hospitality properties. TOTAL ASSETS ($’M) 10,357 12,847 21,291 23,067 24,204 27,009 2012 2013 2014 2015 2016 2017 PROFIT BEFORE INTEREST AND TAXATION ($’M) 390.2 704.4 765.0 1,104.8 938.2 1,089.0 2012 2013 2014 2015 2016 2017 FRASERS CENTREPOINT LIMITED & SUBSIDIARIES 3 SINGAPORE Frasers Centrepoint Singapore The Retail and Commercial comprises the Retail and Properties division owns and/ Commercial as well as the or manages 12 shopping malls in Residential Properties divisions. Singapore and 10 office and business space properties in Singapore and The Residential Properties division Australia. SGX-ST-listed Frasers has built and sold more than 19,000 Centrepoint Trust (FCT) and Frasers homes in Singapore, with two Commercial Trust (FCOT) hold six residential and a mixed-use project of the malls and six of the office and currently under development. business spaces respectively. Artist’s Impression of Frasers Tower, Singapore Fraser Suites New Delhi, India HOSPITALITY FCL’s hospitality business comprises and millennial travellers. In addition, Frasers Hospitality and Frasers Frasers Hospitality acquired the entire Hospitality Trust (FHT). portfolio of 29 upscale properties in the MHDV stable – Malmaison and Frasers Hospitality has interest in and/ Hotel du Vin, two leading boutique or manages award-winning serviced hotel chains with footprints across residences, hotel residences and key cities in the UK. lifestyle boutique hotels in over 80 cities across Asia, Australia, Europe, Including those in the pipeline, the Middle East and Africa. Frasers Hospitality’s global portfolio stands at over 24,000 units in 146 Conceived with the lifestyle properties, and is on track to achieve preferences of today’s discerning its target of 30,000 units by 2019. business and leisure travellers in mind, Frasers Hospitality launched FHT is the first global hotel and Fraser Suites and Fraser Place in serviced apartment trust to be listed Singapore in 1998. Modena by Fraser, on the SGX-ST. FHT currently has a modern and eco-conscious brand, 15 quality properties strategically and Capri by Fraser, a playful and located across key gateway cities in design-led hotel residence, are also Asia, Australia, the United Kingdom part of Frasers Hospitality’s brand (UK) and Germany. offerings aimed at busy executives 4 ANNUAL REPORT 2017 AUSTRALIA FCL’s businesses in Australia FPA has offices in Sydney, comprise Frasers Property Australia Melbourne, Brisbane and Perth. It (FPA) and Frasers Logistics & also maintains a residential sales Industrial Trust (FLT). office in Hong Kong, Shanghai and Singapore. FPA (incorporating Australand from late 2014) is one of Australia’s leading FLT currently owns a portfolio of property companies, having been Australian industrial properties and is involved in property development listed in Singapore. It has a portfolio since 1924. Its current operations are comprising 61 industrial properties focused on investment in income- concentrated within major industrial producing commercial, retail and markets in Australia, predominantly industrial properties; commercial, in Melbourne, Sydney and Brisbane. retail and industrial property Coupled with properties in Adelaide development and management; and and Perth, FLT’s total portfolio is residential development (including valued at A$1.91 billion as at 30 land, housing and apartments). September 2017. Frasers Property Head Office, Rhodes, New South Wales, Australia Geneba Industrie Park, Mülheim, Germany INTERNATIONAL BUSINESS The International Business unit demonstrate FCL’s strategy to comprises FCL’s investments in increase recurring income overseas. China, Europe including the UK, Vietnam and Thailand. In Vietnam, we acquired a 70% stake in G Homes to develop a residential- China has been an important cum-commercial project on a 1-ha market for FCL since we built our prime site in Ho Chi Minh City. FCL first residential development – the also has a 75% interest in Me Linh 452-unit Jingan Four Seasons in Point, a 21-storey retail/office building Shanghai – in 2001. To date, Frasers in District 1, Ho Chi Minh City. Property China, has developed over 9,000 homes in China. We have three In Thailand, we hold a 39.9% stake in projects currently under development Golden Land Property Development – residential projects in Suzhou and Public
Recommended publications
  • Singapore's Selected Single Stocks

    Singapore's Selected Single Stocks

    Exchange Partner Singapore’s Selected Single Stocks SSF Strategies On Lion City’s Blue Chips by Tariq Dennison, +852 9476 2868 © 2020 GFM Group Limited, https:://gfmasset.com Image source: https://www.pinterest.com/pin/162129655305421931/?autologin=true Disclaimer This presentation is for educational and discussion purposes only. Nothing in this presentation is to be taken as investment advice, nor as any recommendation to buy or sell any security or investment property or product. Please consult with GFM or your own investment advisors 1-on-1 before making any investment decisions. GFM does NOT provide any tax or legal advice. Tax strategies in this presentation are based on our experience and believed to be current, but please consult with your own tax advisor for tax advice specific to your situation. GFM Group Limited is an SFC Type 9 Licensed Asset Management firm and is not affiliated with any exchange, brokerage firm, or custodian, including the co-presenters of this seminar. GFM Asset Management LLC, an affiliated company, is a US SEC Registered Investment Advisor. Investing involves risks, including the risk that you may lose some or all the money you invest. GFM is not affiliated with Interactive Brokers LLC, or any other FINRA broker-dealer © 2020 GFM Group 2 Disclaimer by SGX This document/presentation has not been prepared by Singapore Exchange Limited (“SGX”) or any of its affiliates (SGX and its affiliates collectively, the “SGX Group Companies”) and the information in this document/presentation has not been verified by any SGX Group Company. No SGX Group Company endorses or shall be liable for the contents of this document/presentation.
  • FCT Reports 5.996 Cents DPU for 1H2021, Boosted by Acquisition of ARF Portfolio

    FCT Reports 5.996 Cents DPU for 1H2021, Boosted by Acquisition of ARF Portfolio

    PRESS RELEASE FCT reports 5.996 cents DPU for 1H2021, boosted by acquisition of ARF portfolio 1H2021 performance boosted by the enlarged retail portfolio post the ARF Acquisition FCT’s portfolio tenants’ sales recovery outpaced broader retail market Steady roll-out of Singapore’s COVID-19 vaccination programme and continued re-opening of the economy will further support the recovery of shopper traffic and tenants’ sales SINGAPORE, 23 APRIL 2021 Frasers Centrepoint Asset Management Ltd. (“FCAM” or the “Manager”), the manager of Frasers Centrepoint Trust (“FCT” or the “Trust”), is pleased to report distribution per unit (“DPU”) of 5.9961 Singapore cents for the period from 1 October 2020 to 31 March 2021 (“1H2021”) which is 28.4% higher year-on-year (“y-o-y”). The books closure date for the 1H2021 DPU is 5.00 p.m. on 3 May 2021 and the payment date is 28 May 2021. Mr Richard Ng, Chief Executive Officer of FCAM, said, “This is the first set of financial results following the completion of the acquisition (the “ARF Acquisition”) of the remaining 63.11% stake in AsiaRetail Fund Limited (“ARF”) in October last year. Overall performance was boosted by the enlarged retail portfolio and FCT’s financial position remains strong. Our retail portfolio occupancy remained stable at 96.1%, despite the challenging leasing environment, and we have renewed approximately 50% of the expiring leases for the financial year ending 30 September 2021. Our portfolio tenants’ sales registered y- o-y growth of 0.4% in January 2021 and 11.7% in February 2021, ahead of the y-o-y change in the Singapore retail sales value2 of -8.1% and 7.7%, respectively for the same months.
  • Kindness Heroes

    Kindness Heroes

    PRESS RELEASE Under Embargo until 31 March 2021, 3am SGT Frasers Hospitality gives back to over 200 ‘Kindness Heroes’ worldwide Nearly 700 room nights across 16 countries will be granted to inspiring individuals, including Frasers Hospitality’s own employees, who have displayed selfless acts of kindness as part of the global ‘Remembering Kindness’ campaign Singapore, 31 March 2021 – Frasers Hospitality, a member of Frasers Property Group, has concluded its ‘Remembering Kindness’ campaign, announcing today that over 200 individuals or ‘Fraser Kindness Heroes’ – including its own outstanding employees or ‘Everyday Heroes’ – will each be granted with a complimentary stay at one of the global hospitality operator’s award-winning collection of serviced and hotel residences, and boutique hotels across the world. Aberdeen Brisbane Dubai Harrogate Manchester Poole Tianjin Penang (2021) Abuja Bristol Dundee Henley-on-Thames Melbourne Reading Tunbridge Wells Putrajaya (2021) Bahrain Budapest Edinburgh Ho Chi Minh City Muscat Riyadh Wimbledon Bournemouth (2022) The Bangkok Buriram Exeter Istanbul Nanjing Seoul Winchester Barcelona Cambridge Frankfurt Jakarta Newcastle Shanghai Wuhan Fraser Beijing Changsha Geneva Johor New Delhi Shenzhen Wuxi Belfast Cheltenham Glasgow Kuala Lumpur Osaka Singapore York Collection Berlin Chengdu Guangzhou Leeds Oxford St Andrews Leipzig (2020) Birmingham Dalian Hamburg Liverpool Paris Stratford-upon-Avon Tokyo (2020) Brighton Doha Hanoi London Perth Sydney Jeddah (2021) PRESS RELEASE Launched in December 2020 as part of Frasers Hospitality’s #FraserCares initiatives, ‘Remembering Kindness’ is a global campaign that seeks to celebrate kindness by recognising and rewarding those who have gone beyond the call of duty to help others in need. As part of the campaign, members of the public have come forward to share stories of individuals in their communities who have performed acts of kindness for the benefit of others.
  • One Bangkok and SCG Sign MOU for Collaboration On

    One Bangkok and SCG Sign MOU for Collaboration On

    One Bangkok and SCG sign MOU for collaboration on sustainable construction management towards circular economy to be implemented for the largest Thai real estate project One Bangkok, the THB 120 billion fully-integrated district and the largest private sector property development in Thailand’s history, and SCG, signed a Memorandum of Understanding (MoU) for the implementation of construction waste management practices according to circular economy principles. The partnership aims to set new standards of sustainability in construction at One Bangkok by recycling concrete waste into precast panels and developing of holistic waste and pollution management plan. Mr. Panote Sirivadhanabhakdi, Group Chief Executive Officer of Frasers Property Limited, a joint developer of One Bangkok, said: “As a landmark project slated to set new standards in design, quality, sustainability and smart city living in Thailand, One Bangkok has always looked into strategic partnerships with industry leaders widely recognized for their outstanding capabilities, expertise, quality and reliability. We are delighted to strengthen our relationship with SCG, a long-term partner who shares our vision and ambition to create long- term values through sustainable construction practices.” “Sustainability has been a core development principle for One Bangkok. By collaborating with SCG, we will implement sustainable management of construction wastes throughout the development and operations of the district. This is also in line with Frasers Property’s commitment to be a net-zero carbon corporation by 2050; to incorporate environmentally and socially friendly practices throughout the entire value chain – from investment to design, development and operations – with a focus on carbon reduction, energy efficiency and innovative solutions,” added Panote.
  • Thai Beverage Public Company

    Thai Beverage Public Company

    Singapore Company Guide Thai Beverage Public Company Version 5 | Bloomberg: THBEV SP | Reuters: TBEV.SI Refer to important disclosures at the end of this report DBS Group Research . Equity 23 Nov 2016 BUY Identifying scenarios to unlock value Last Traded Price ( 22 Nov 2016): S$0.87 (STI : 2,822.20) Long-term BUY, TP: S$1.09. We see ThaiBev being in a Price Target 12-mth: S$1.09 (26% upside) transformational mode to morph into a regional player. While investors may be deterred with uncertainty surrounding the Potential Catalyst: Acquisitions, restructuring extent and impact from mourning period in Thailand, we believe Where we differ: Below, probably due to adjustment of FYE to Sep its resilience and its ongoing transformation into a regional Analyst Andy SIM CFA +65 6682 3718 [email protected] beverage player will aid in further re-rating of the counter. We would advocate accumulating on pullbacks. What’s New Acquisition, restructuring and earnings accretion to be a re- • Reiterate positive view of transformation into a rating catalyst. We see FNN as the vehicle for ThaiBev’s regional regional beverage player acquisition strategy. We estimate that ThaiBev/ FNN collectively • Restructuring unlikely to take “asset swap” route have sufficient firepower to undertake acquisitions to the value of around S$4bn. On the back of this, we expect FNN to • Accretive acquisition a key catalyst, along with undertake equity fund raising, thereby allowing ThaiBev to raise restructuring; group has ample firepower its stake in FNN. In a scenario (pg 4), assuming a S$3bn • Mourning period impact likely to be limited acquisition by FNN, we estimate an EPS accretion of 16-35% and 8-10% for FNN and ThaiBev respectively (through a mix of cash, debt and rights issue at a multiple of 20-25x).
  • Thai Beverage Equity Research Singapore| Consumer Staples Rating BUY (As at 7 December 2020) Last Close SGD 0.73 Fair Value SGD 0.89

    Thai Beverage Equity Research Singapore| Consumer Staples Rating BUY (As at 7 December 2020) Last Close SGD 0.73 Fair Value SGD 0.89

    Equity Research 7 December 2020 Company update Chu Peng Thai Beverage Equity Research Singapore| Consumer Staples Rating BUY (as at 7 December 2020) Last Close SGD 0.73 Fair Value SGD 0.89 Gradual recovery ahead Security information • Resilient Spirits sales Ticker THBEV SP Market Cap (SGD b) 18.2 • Food business saw greater impact from Covid-19 Daily turnov er (SGD m) 21.8 • Domestic beer market share reached 12-year high Free Float 32% Investment thesis Shares Outstanding (m) 25,116 Top Shareholder SIRIWANA COMPANY 45.3% Thai Beverage PLC’s (ThaiBev) results were above ours and the street’s expectations due to better-than- Price performance chart expected sales volume and lower costs. FY20 revenue 1.1 4,046 decreased by 5.2% YoY to THB 253.5b due to weaker 1.0 3,546 sales from Beer, Nonalcoholic and Food business, 0.9 3,046 partially offset by an increase in sales of Spirits while 2,546 0.8 PATMI was down 2.2% YoY to THB 22.8b. Spirits business 2,046 0.7 remained resilient amid Covid-19 due to its off-premise 1,546 consumption nature while Food business saw greater 0.6 1,046 impact from Covid-19 with the closure of department 0.5 546 stores and restaurants. ThaiBev is currently trading at a 0.4 46 blended forward P/E of 15.3x which is near 1 s.d. below Dec-15 Dec-16 Dec-17 Dec-18 Dec-19 its 5-year average of 15.4x. We think the valuation is THBEV SP Equity STI Index (RHS) undemanding given the positive development of vaccines, ThaiBev’s strong brand name and product portfolio, and policy stimulus from the government Financial summary which could aid the recovery of consumption.
  • Agility & Tenacity

    Agility & Tenacity

    AGILITY & TENACITY ANNUAL REPORT 2020 Chinese sculptor Zheng Lu’s “Moving Water – Marvellous” sculpture at Frasers Tower – reminiscent of a water wave – reflects the dynamism of Frasers Property in its ability to adapt to fast-changing times. In this particular work deeply influenced by Chinese calligraphy, the characters – Collaborative, Respectful, Progressive and Real – reflect our core values that guide how we think, how we act and what we value. GLOSSARY For ease of reading, this glossary provides definitions of abbreviations that are frequently used throughout this report Frasers Property entities Other Abbreviations FCT : Frasers Centrepoint Trust APBFE : Attributable profit before fair value FHT : Frasers Hospitality Trust change and exceptional items FLCT : Frasers Logistics & Commercial Trust AsiaRetail FPA : Frasers Property Australia Fund : AsiaRetail Fund Limited FPC : Frasers Property China AUM : Assets under management FPHT : Frasers Property Holdings Thailand BCA : Building and Construction Authority, Singapore FPI : Frasers Property Industrial CBD : Central business district FPL : Frasers Property Limited DPU : Distribution per unit FPS : Frasers Property Singapore EMTN : Euro medium-term notes FPT : Frasers Property Thailand ERM : Enterprise-wide risk management FPUK : Frasers Property United Kingdom FY : Financial year FPV : Frasers Property Vietnam GDP : Gross domestic product FTREIT : Frasers Property Thailand Industrial Freehold & GDV : Gross development value Leasehold REIT GFA : Gross floor area GOLD : Golden Land
  • Frasers Property Announces Leadership Changes for Australia

    Frasers Property Announces Leadership Changes for Australia

    PRESS RELEASE Frasers Property announces leadership changes for Australia effective 1 October 2020 Anthony Boyd will succeed Rod Fehring as Chief Executive Officer of Frasers Property Australia Rod Fehring will be appointed as Executive Chairman of Frasers Property Australia and will continue to chair Frasers Property Industrial and Frasers Property UK Olivier Lim will step down as non-executive Chairman of Frasers Property Australia and remain as Advisor to the Group AUSTRALIA / SINGAPORE, 6 MAY 2020 Frasers Property Limited (“Frasers Property” and together with its subsidiaries, the “Group”), today announced leadership changes for Australia effective 1 October 2020. Anthony Boyd will be appointed as Chief Executive Officer (CEO) of Frasers Property Australia. Mr Boyd currently serves as Chief Financial Officer at Frasers Property Australia. As CEO, Mr Boyd will succeed Rod Fehring, who will remain on the board of directors of Frasers Property Australia Pty Limited as the newly appointed Executive Chairman and will continue to serve as Chairman of the management boards of Frasers Property Industrial and Frasers Property UK. Mr Fehring will succeed Olivier Lim who will step down as non-executive Chairman of Frasers Property Australia Pty Limited and remain as Advisor to the Group. “Today’s announcement is a further evolution of Frasers Property that highlights our bench strength. Rod has very ably led our Australian business over the last five years. He has played a critical part in the formation of our integrated industrial & logistics platform, which includes asset portfolios in Australia and Europe and provides the asset management services to the newly merged Frasers Logistics & Commercial Trust (“FLCT”).
  • Phillip Securities Research Morning Call 26Th May 2020

    Phillip Securities Research Morning Call 26Th May 2020

    Phillip Securities Research Morning Call 26th May 2020 Stock Counter Updates Macro/Sector Outlook . IREIT Global . Singapore REITs Sector . EC world REIT . Singapore Banking Monthly . Propnex Ltd . Singapore Weekly . ComfortDelGro Ltd . ThaiBev PLC Phillip Securities Research Pte Ltd (A member of PhillipCapital) Co. Reg. No. 197501035Z © PhillipCapital 2019. All Rights Reserved. For internal circulation only. Disclaimer: The information contained in this document is intended only for use during the presentation and should not be disseminated or distributed to parties outside the presentation. Phillip Securities accepts no liability whatsoever with respect to the use of this document or its contents. Disclaimer The information contained in this presentation has been obtained from public sources which Phillip Securities Research Pte Ltd (“PSR”) has no reason to believe are unreliable and any analysis, forecasts, projections, expectations and opinions (collectively the “Research”) contained in this presentation are based on such information and are expressions of belief only. PSR has not verified this information and no representation or warranty, express or implied, is made that such information or Research is accurate, complete or verified or should be relied upon as such. Any such information or Research contained in this presentation is subject to change, and PSR shall not have any responsibility to maintain the information or Research made available or to supply any corrections, updates or releases in connection therewith. In no event will PSR be liable for any special, indirect, incidental or consequential damages which may be incurred from the use of the information or Research made available, even if it has been advised of the possibility of such damages.
  • FCT Presentation

    FCT Presentation

    Frasers Centrepoint Trust Investor Presentation Frasers Day Bangkok 12 November 2020 WATERWAY POINT • Certain statements in this Presentation constitute “forward-looking statements”, including forward-looking financial information. Such forward-looking statement and financial information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of FCT or the Manager, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements and financial information. Such forward-looking statements and financial information are based on numerous assumptions regarding the Manager’s present and future business strategies and the environment in which FCT or the Manager will operate in the future. Because these statements and financial information reflect the Manager’s current views concerning future events, these statements and financial information necessarily involve risks, uncertainties and assumptions. Actual future performance could differ materially from these forward-looking statements and financial information. • The Manager expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement or financial information contained in this Presentation to reflect any change in the Manager’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement or information is based, subject to compliance with all applicable laws and regulations and/or the rules of the SGX-ST and/or any other regulatory or supervisory body or agency. The value of Units in FCT and the income derived from them may fall as well as rise. The Units in FCT are not obligations of, deposits in, or guaranteed by, the Manager or any of their affiliates.
  • Contractor Appointed for First Building at Midtown Macpark Parkview Constructions Wins Tender to Build MAC Residences

    Contractor Appointed for First Building at Midtown Macpark Parkview Constructions Wins Tender to Build MAC Residences

    PRESS RELEASE Contractor appointed for first building at Midtown MacPark Parkview Constructions wins tender to build MAC Residences Construction set to begin in September 2021 Over 200 local jobs to be created SYDNEY, 14 APRIL 2021 Parkview Constructions has been appointed to deliver the first apartment building at Midtown MacPark, Sydney’s next great urban neighbourhood by Frasers Property Australia. Excavation work has already commenced on site and construction of the first building, MAC Residences, is set to begin in September with completion expected in the second half of 2023. Parkview Constructions has a proven track record of delivering high quality projects and is the builder behind some of Sydney’s most iconic residential buildings, including Sanctuary at Wentworth Point and West Village in Parramatta. MAC Residences is proving popular with buyers of all demographics with over 170 out of 269 apartments already sold. “The appointment of Parkview Constructions follows an extensive tender process, and we are looking forward to our vision for MAC Residences, the first building in the large-scale masterplanned community, becoming a reality,” says Nigel Edgar, General Manager Development NSW, Frasers Property Australia. “The start of construction of the first homes is a major milestone for Midtown MacPark and we’re pleased to have a company with the local expertise and proven track record of Parkview on board to bring these new homes to life. “This is an exciting time for the people who have already purchased at MAC Residences as well as members of the local community who are eagerly awaiting the new homes, amenities and parks coming soon to the new heart of Macquarie Park.” Parkview Constructions Operations Manager, Glenn Moran says the company is excited to partner with Frasers Property in the creation of MAC Residences.
  • Sermsuk-AR20-En Final.Pdf

    Sermsuk-AR20-En Final.Pdf

    Sermsuk Public Company Limited and its Subsidiaries Annual Report 2020 Contents 02 Message from the Chairman 126 Connected Transactions 04 Board of Directors 140 Financial Data and Financial Statements 08 Executive Committee Members 149 Management Discussion 10 Executives and Analysis: MD&A 12 Product Portfolio 154 Report of the Board of Director’s Responsibility for the Financial 14 Corporate Social Responsibility Statements Activities 155 Report of the Audit Committee 44 Policy and Business Overview 156 Report of the sustainability and 56 Business Operations Risk Management Committee Risk Factors 157 Report of the Nominating and 60 Remuneration Committee 66 Basic Information 158 Report of the Corporate Governance Committee 67 Share Capital and Shareholders 159 Report of the Executive 68 Dividend Payment Policy Committee 69 Management Structure 160 Independent Auditor’s Report and Financial Statements 89 Corporate Governance 275 Information of the Company’s 120 Corporate Social Responsibility Directors, Executives, (CSR) Controlling Parties (if applicable) and Company Secretary 125 Internal Control and Risk Management Investors can review listed companies’ financial statement in the Annual Report and SEC filing (Form 56-1) as shown on www.sec.or.th Sermsuk Public Company Limited and its Subsidiaries Annual Report 2020 Message from the Chairman In 2021, Sermsuk will continue Dear Fellow Shareholders: to expand our channels to reach more consumers and develop The year 2020 was very challenging, not only for Sermsuk, but for people and economies worldwide. The COVID-19 and distribute new products for pandemic has had lingering impact from the beginning of the the health and well-being of consumers year right up until today.