Iggy’s Journal: Frasers Centrepoint Trust’s Income Rose 8.2%, Its Payout Per Unit Rose 2.0%Friday 23 Oct 2026 | MorningT…

Iggy’s Journal: Frasers Centrepoint Trust’s Income Rose 8.2%, Its Payout Per Unit Rose 2.0%

Friday 23 Oct 2026 | Morning

The Numbers

STI: Thursday’s close was 5,415.14, down 22.85 points or 0.42%, according to Singapore Business Review citing SGX data. That is about 5.0% below the 6 October close of 5,701.54.

Wall Street on Thursday, in sessions that ran after SGX had closed: the Dow finished at 52,867.98, up 11.89 points or 0.02%. The S&P 500 finished at 7,663.43, down 93.74 points or 1.21%. The Nasdaq finished at 26,008.86, down 694.00 points or 2.60%. The Associated Press called it the S&P 500’s worst day since July and tied the fall to AI stocks, on worry that elevated interest rates threaten the AI boom. The Nasdaq is now about 5.8% below its 6 October close of 27,599.89.

Oil: December Brent settled at US$113.17 a barrel, up US$4.35 or 4.00% (ICE Futures via Xinhua; Dow Jones Market Data shows the same figure). Xinhua attributes the rise to worry over the transport of Middle East energy supplies.

Rates: the MAS 6-month T-bill cut-off yield was 1.95% at Thursday’s auction, up from 1.90% on 8 October. Applications were S$16.07 billion for S$8.60 billion offered.

Frasers Centrepoint Trust results, announced on 22 October: full-year distribution per unit (DPU) of 12.35 Singapore cents, up 2.0%. Second-half DPU of 6.214 cents, up 2.6%. Full-year distributable income of S$252.2 million, up 8.2%.

My Personal Take

The first thing I noticed in the FCT results was the distance between two growth rates. Distributable income rose 8.2% for the year, but the payout per unit rose only 2.0%. Dividing one by the other implies about 6% more units sharing the income, and DPU is the number a unitholder is actually paid. Wall Street’s fall came after SGX closed on Thursday, so Singapore meets it at 9am today. Next I want to see the gearing line in the FCT release. I will do a deep dive soon on FCT.   $Frasers Cpt Tr(J69U.SG) 

Cheers, Iggy 🦖