SINGAPORE (May 11): DBS Vickers Securities continues to like Frasers Centrepoint Ltd (FCL) for its attractive valuations at 0.7x P/NAV. The stock also offers one of the highest dividend yields among developers at about 5.1%.

“We see re-rating opportunities coming from potential asset monetisation from ongoing strategies to crystallise value across it portfolios,” says lead analyst Derek Tan.

Tan says the group is on track towards its target to grow recurring revenues to contribute 60-70% of profit before interest and tax (PBIT) in the medium term.

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