Broker Name: Maybank Research Pte Ltd
Date of Report: October 27, 2025
Excerpt from Maybank Research Pte Ltd report.

• Report Summary
• Frasers Centrepoint Trust (FCT) delivered a steady FY25 performance, with DPU rising 0.6% YoY, supported by acquisitions, resilient operations, and high retail occupancy despite minor vacancies and an anchor tenant exit.
• Debt costs declined due to refinancing, gearing improved, and management guided for further reductions in borrowing costs, positive rental reversions, and resilient retail sales outlook, maintaining a BUY call with a raised target price.

Above is an excerpt from a report by Maybank Research Pte Ltd. Clients of Maybank Research Pte Ltd can be the first to access the full report from the Maybank Research website: https://www.maybank-keresearch.com