Frasers Centrepoint Trust started at "hold", $2.03 target by Maybank Kim Eng

Stock Name: Frasers Cpt Tr
Company Name: FRASERS CENTREPOINT TRUST

Research House: Maybank Kim Eng

Price Call: HOLD

Target Price: 2.03

SINGAPORE (March 26): Maybank Kim Eng has started coverage on Frasers Centrepoint Trust (FCT) at "hold" and a price target of $2.03.

FCT's six malls are located in the suburbs or outside Singapore's central region, leaving it with little competition, according to Maybank Kim Eng analyst Joshua Tan.

"With the exception of exception of its smallest mall, Bedok Point, (which accounts for) 5.1% of net property income, none faces serious head-on competition," he said.