---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/100000000949977.md"
description: "Context ⭐ $Frasers Cpt Tr(J69U.SG) reported record-high full-year FY2026 results. Gross Revenue rose 14.2% YoY to SGD444.9m, Net Property Income (NPI) grew 15.7% YoY to SGD321.7m, and full-year DPU reached a record 12.350 cents (+2.0% YoY). 👍 Significant Balance Sheet Deleveraging: Aggregate leverage improved substantially to 36.8% (down from 40.4% in 3Q FY26), creating strong debt headroom well below the 50% MAS regulatory limit. 💰 Cost of Debt & Coverage: All-in average cost of debt declined to 3.2% (down from 3.8% in FY25), with 68.6% fixed-rate hedged and an improved Interest Coverage Ratio (ICR) of 4.37x.🍏 Robust Operational Essentials: Portfolio committed occupancy remained near-full at 99.7%, supported by positive rental reversions of +6.6% and successful asset recycling (divestment of White Sands at an 8.4% premium).My Trade: * Position Action: Maintaining current vested position in FCT (SGX: J69U) and holding through the earlier market sell-down. * Investment Rationale: Lower interest burden, significant balance sheet deleveraging (sub-37% gearing), and resilient suburban retail cash flows validate holding the stock as a dependable income component without needing to panic-sell or over-allocate at current levels.Takeaway: * Quality & Resilience: FCT’s necessity-driven heartland retail portfolio demonstrates steady organic growth, high occupancy, and positive rental reversions regardless of broader economic volatility.* Lowered Financial Risk: Active capital management and rate cuts have reduced borrowing costs and gearing, improving DPU distribution visibility (2H DPU of 6.214¢ payable on 27 Nov 2026)."
datetime: "2026-10-22T09:20:11.000Z"
locales:
  - [en](https://longbridge.com/en/topics/100000000949977.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/100000000949977.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/100000000949977.md)
author: "[LazyCat](https://longbridge.com/en/profiles/16872684.md)"
generator: "portal-rs"
---

# Context ⭐ $Frasers Cpt Tr(J69U.SG) reported record…


### Related Stocks

- [J69U.SG](https://longbridge.com/en/quote/J69U.SG.md)

## Comments (5)

- **Fattycat · 2026-10-22T10:09:07.000Z · 👍 1**: I don’t have spare money now. Cannot follow you 😂
- **Fattycat · 2026-10-22T10:07:26.000Z · 👍 1**: Good move.👊🏽👍
  - **LazyCat** (2026-10-22T10:24:44.000Z): I expected the perma reit bears to be out soon after this brief period of euphoria. The RTS thingy will be back claiming every other people will be heading to JB to buy grocery, do their nails, go for
  - **Fattycat** (2026-10-22T10:27:17.000Z): I live in woodlands for decades and I seldom go Johor for shopping. Weekend is my rest day. Just want to rest and tired of travelling there . I will still go causeway point to have my meal there.
  - **LazyCat** (2026-10-22T10:47:04.000Z): compared to the present and past, I believe the border crossing experience would be much smoother. But the return mrt fare may not make causal crossing economical, say go over to eat kopi Kaya toast; 


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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**