Frasers Centerpoint Trust (FCT) reported stable portfolio occupancy at 96.4% for Q3 FY2021 despite Covid disruptions. The company said shopper traffic fell to around 60% of pre-Covid levels. FCT said that it renewed substantial expiring leases due in FY2021, with only 8% remaining to renew in Q4. Its gearing ratio stood at 33.9% vs. 35% a year ago. Its weighted average lease expiry (WALE) stood at 1.62Y by Net Lettable Area (NLA). The company has a staggered debt maturity with an average maturity of 2.8Y vs. 2.3Y a year ago.

FCT’s SGD 3.2% 2023s were at 103.8, yielding 1.03%

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