Broker Name: PSPL
Date of Report: December 8, 2025

Excerpt from PSPL report.

• Report Summary
• Frasers Property Limited (FPL) is focusing on capital recycling to unlock value and reduce net debt, with strategies such as selling assets to its listed REITs and third parties, and has achieved a 57% discount to book value.
• Key earnings drivers for FPL include expanding its development pipeline, ramping up the One Bangkok project, and growing recurring and fee income; the company paid a 4.5 cent dividend per share in FY25, yielding 4.4%.

Above is an excerpt from a report by PSPL. Clients of PSPL can be the first to access the full report from the PSPL website: https://www.pspl.com