Frasers Logistics & Commercial Trust has reported a stable portfolio occupancy of 95.8% in its 1QFY2024 business update.
This is a slight dip from 96% FLCT was able to achieve at the end of its FY2023 ended last September.
FLCT owns 108 properties, mainly logistics but some commercial as well. It has a portfolio valued at $6.7 billion.
It was able to achieve a rental reversion of 11.6% between incoming leases and expiring ones.
FLCT says it is actively managing its debt. More of than 95% of its debt load will mature within the current financial year, and facilities are already in place for more than half of the debt maturing in FY2024.
As at Dec 31, its gearing was just 30.7%, said to be the lowest among the top ten S-REITs by market cap.
See also: Changes in ICR, leverage to come into effect immediately, with additional disclosures in March
FLCT closed at $1.08 on Jan 30, up 0.93% for the day.
