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Frasers Property

Frasers Property
Leadership team

Mr. Panote Sirivadhanabhakdi (Group CEO and Exec. & Non-Independent Director)

Mr. Choo Leong Loo MBA (Group Chief Financial Officer)

Ms. Gerry Wong (Head of Group Investor Relations)

Products/ Services
Commercial Real Estate, Property Management, Real Estate
Number of Employees
1,000 - 20,000
Headquarters
Singapore, Central Region, Singapore
Established
1963
Net Income
500M - 1B
Revenue
Above - 1B
Traded as
SGX:TQ5
Social Media
Overview
Location
Summary
Frasers Property Limited, an investment holding company, develops, invests in, and manages a portfolio of real estate properties. The company's asset portfolio includes residential, hospitality, commercial and business parks, retail, and logistics and industrial properties in Singapore, Australia, Europe, China, Thailand, Southeast Asia, and internationally. It owns and/or operates serviced apartments and hotels in approximately 70 cities across Asia, Australia, Europe, the Middle East, and Africa. The company also acts as a sponsor of two real estate investment trusts (REITs) listed on the SGX-ST that comprises Frasers Centrepoint Trust, and Frasers Logistics & Commercial Trust focused on retail, commercial, and industrial properties; and one stapled trust listed on the SGX-ST that include Frasers Hospitality Trust focused on hospitality properties; and two REITs listed on the Stock Exchange of Thailand, which include Frasers Property (Thailand) Public Company Limited, a sponsor of Frasers Property Thailand Industrial Freehold & Leasehold REIT that focuses on industrial and logistics properties in Thailand, as well as Golden Ventures Leasehold Real Estate Investment Trust, which focuses on commercial properties. The company was formerly known as Frasers Centrepoint Limited and changed its name to Frasers Property Limited in February 2018. The company was incorporated in 1963 and is headquartered in Singapore.
History

1963–1996: Foundation, establishment of The Centrepoint, IPO, and acquisition by Fraser and Neave

The company that would later be known as Frasers Property was incorporated in 1963 as Cold Storage Limited, a market and retail chain. The first property it developed was a shopping centre known as The Centrepoint located on Singapore's Orchard Road. Construction on that development started in 1980 and was completed in 1983. In the early 1980s, the firm began divesting its non-property assets. In 1987, Fraser and Neave and Goodman Fielder Wattie took control of Cold Storage Holdings, the holding group for Cold Storage's food manufacturing, retail, and property arms. In 1988, the property arm of Cold Storage became Centrepoint Properties Limited and also started trading on the Singapore Exchange . In 1990, CPL became a member of Fraser and Neave after restructuring. At the time of the acquisition, CPL's sole function was as the owner and operator of The Centrepoint mall, and its executive director was G.H. Darwin.In the following years, the company added to its portfolio, opening another shopping complex, Northpoint, in Singapore and acquiring a Sydney, Australia-based shopping mall, Bridgepoint. In 1994, CPL opened and began managing its first residential project with The Anchorage, a condominium complex at the location of a former Anchor Brewery in Singapore. In 1996, it broke ground on its first commercial project in Vietnam called, Me Linh Point, in Ho Chi Minh City. The 21-storey retail and commercial tower was completed in 1999.In 1996, G.H. Darwin retired as executive director and was replaced by Jeffrey Heng, who assumed the role of CEO. Under Heng, Centrepoint expanded into hospitality with the hotel brands, Fraser Place and Fraser Suites. In 1998, Fraser Suites Singapore and Fraser Place Robertson Walk were the first of F&N's serviced residence properties. The company subsequently opened locations in the UK, South Korea, and the Philippines. The company also ventured into the United Kingdom for the first time in 2000 with the Annandale House residential development. Its first development in China came with the JingAn Four Seasons in Shanghai in 2001.

1996–2013: Further expansion, delisting from SGX, and establishment of REITs

In 2002, Centrepoint Properties became a wholly owned subsidiary of Fraser and Neave, which privatized it by delisting it from the SGX. Lim Ee Seng was named CEO of Centrepoint Properties in 2004. Two years later, the company was rebranded as Frasers Centrepoint Limited . It also developed its first Real estate investment trust with Frasers Centrepoint Trust . The FCT launched with a listing on the main board of the Singapore Exchange Securities Trading Limited . In 2008, Fraser and Neave acquired a 17.7% stake in the Allco Commercial REIT. It was later rebranded as the Frasers Commercial Trust and placed under the structure of FCL. Between 2005 and 2014, FCL's assets increased from just over $5 billion to $16.89 billion .In 2013, FCL's parent company, Fraser and Neave, was acquired by Thai Chinese billionaire Charoen Sirivadhanabhakdi's TCC Group for $11 billion. In August of that year, it was announced that Fraser and Neave would spin off FCL as its own separate listing on the Singapore Exchange through an in specie distribution of stock, effectively making the property group an independent entity under the broader TCC Group umbrella.

2014–2017: Acquisition by TCC Group, relisting on SGX, and expansion into Australia and Europe

It officially commenced trading on the main board of the SGX-ST on January 9, 2014, after a nearly 12-year absence. In June 2014, FCL launched the Frasers Hospitality Trust , a stapled trust with a focus on its hospitality business. It is listed on the SGX-ST. Another REIT, the Frasers Logistics and Industrial Trust , was launched on the SGX-ST in June 2016. In July 2014, Frasers Centrepoint acquired Australand, an Australia-based property group, for $2.6 billion . Australand was rebranded to Frasers Property Australia in August 2015. In 2016, the company acquired a stake in the Stock Exchange of Thailand-listed development company, Golden Land.In October 2016, Panote Sirivadhanabhakdi took over as the group's CEO, replacing the retiring Lim Ee Seng who had held the role for 12 years. Sirivadhanabhakdi had previously been the CEO of the Thailand-based Univentures Public Company and a non-executive and non-independent director of Frasers Centrepoint. In April 2017, it was announced that Frasers Centrepoint was planning the largest mixed-use development in Thailand known as One Bangkok. Due to be completed in 2025, the 16.7 hectare integrated district will feature residences, hotels, office space, and shopping malls.Later that month, the group acquired an 86.56% stake in Geneba Properties NV, a real estate investment company based in Amsterdam. It continued adding to its European portfolio with acquisitions of two warehouse facilities in Germany in October 2017, four business parks in the U.K. in November 2017, and the German commercial, logistics, and manufacturing developer Alpha Industrial in February 2018.

2018–present: Rebrand as Frasers Property and further acquisitions

In February 2018, the company officially changed its name from Frasers Centrepoint Limited to Frasers Property Limited. Many of its business units outside of Singapore had been using the "Frasers Property" name for several years. Later in February, the Frasers Property Group acquired an additional 26.1% stake in Thai-listed developer, TICON Industrial Connection Public Company, in which it already owned a 40.95% share. The sale triggered a tender offer for the remaining ordinary shares of TICON. TICON was later renamed Frasers Property Thailand in 2019 with Golden Land Development Company as a subsidiaryIn May 2018, the group partnered with Singaporean sovereign wealth fund, GIC, and coworking company, JustCo, to invest $177 million in creating a Southeast Asian coworking platform. That month, it also acquired a 75% stake in Vietnam-based Phu An Khang Real Estate for $18 million. In February 2019, the company entered into a conditional sale and purchase agreement for a 17.8% stake in PGIM Real Estate Asia Retail Fund Limited for $356.4 million. In July 2019, the company announced that it would be merging its Australian and European industrial and logistics operations along with the assets and property management functions of the Frasers Logistics and Industrial Trust. The company announced it would create a new strategic business unit, Frasers Property Industrial, beginning in 2020.In February 2020, the company's retail arm agreed to acquire AsiaMalls Management, adding six properties to its portfolio.In 2021, the company launched a $950m share sale to fuel the acquisition of industrial and business parks, as well as set up new property investment vehicles.

Mission
To deliver sustainable growth and investment returns for our shareholders through a focus on innovation, continual improvement and quality customer-centric services.
Vision
To be the leading integrated real estate company in the Asia-Pacific Region.
Key Team

Mr. Sebastian Tan (Group Chief HR Officer)

Ms. Zheng Wanshi (Group Chief Strategy & Planning Officer)

Mr. Khong Shoong Chia (Group Chief Corp. Officer)

Mr. Jörg Schröder (Chief Investment Officer of Frasers Property Europe)

Ms. Chin Fen Eu (Chief Investment Officer of Frasers Hospitality)

Mr. Matt Knox (Chief Financial Officer of Integrated Industrial & Logistics Operating Platform)

Mr. Seow Beng Tan (Group Chief Digital Officer)

Recognition and Awards
Frasers Property has been recognised in multiple awards and accolades, including: Best Property Developer at the Asia Real Estate Excellence Awards; Best Integrated Development of the Year and Best Sustainable Development at the Asia Pacific Property Awards; Silver Award in the Consumers' Choice Awards; and Most Admired Real Estate Company at the Asia Real Estate Congress.
References

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Frasers Property
Leadership team

Mr. Panote Sirivadhanabhakdi (Group CEO and Exec. & Non-Independent Director)

Mr. Choo Leong Loo MBA (Group Chief Financial Officer)

Ms. Gerry Wong (Head of Group Investor Relations)

Products/ Services
Commercial Real Estate, Property Management, Real Estate
Number of Employees
1,000 - 20,000
Headquarters
Singapore, Central Region, Singapore
Established
1963
Net Income
500M - 1B
Revenue
Above - 1B
Traded as
SGX:TQ5
Social Media