Frasers said to merge logistics and commercial trusts in consolidation move

Frasers Tower. Source: Frasers Property

Frasers Logistics & Industrial Trust and Frasers Commercial Trust are planning to merge, according to people familiar with the matter, as consolidation among Singapore’s real-estate investment trusts gathers pace.

The combined company will manage almost 100 properties worth $4 billion across Singapore, Australia and Europe, including warehouses, offices and business parks, according to their websites.

The people declined to be named as the information is still private.

A deal would be at the least the fourth among Singapore-listed REITs this year. CapitaLand Ltd. kicked things off in January, striking a S$6 billion ($4.4 billion) deal with Temasek Holdings Pte for Ascendas Pte and Singbridge Pte.

In April, OUE Commercial REIT agreed to buy OUE Hospitality Trust to create one of Singapore’s 10 biggest REITs. Then in July, Ascott Residence Trust and Ascendas Hospitality Trust agreed to create the largest hospitality trust in the Asia-Pacific region, with S$7.6 billion of assets comprising serviced residences and hotels.

Shares of both Frasers Logistics and Frasers Commercial were halted from trading on Singapore’s stock exchange Thursday, pending an announcement.

Frasers Property, backed by Thailand’s TCC Assets, is the main sponsor for both REITs.

spokesperson for Frasers Logistics declined to comment. Frasers Commercial didn’t immediately reply to a request for comment.

Bloomberg

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.