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    TQ5   SG2G52000004

FRASERS PROPERTY LIMITED

(TQ5)
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General Announcement::Full Yearly Results

12/03/2021 | 03:52pm EST

Frasers Property Limited

Incorporated in Singapore

Company Registration No. 196300440G

FRASERS PROPERTY LIMITED - CORRIGENDUM TO THE CONDENSED INTERIM FINANCIAL

STATEMENTS FOR THE SIX MONTHS AND FULL YEAR ENDED 30 SEPTEMBER 2021

Frasers Property Limited (the "Company" and together with its subsidiaries, the "Group") wishes to clarify that there were errors on certain pages of the condensed interim financial statements for the six months and full year ended 30 September 2021 issued on 12 November 2021 (the "Financial Statements"). The errors appear on:

  1. Page 4 of the Financial Statements - Condensed interim consolidated statement of changes in equity. With reference to "Total contributions by and distributions to owners", the number "(89,966)" as shown shaded in grey as follows:

CONDENSED INTERIM CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

Equity

Attributable

Share

Retained

Other

to Owners of

Capital

Earnings

Reserves

the Company

$'000

$'000

$'000

$'000

Group

Full year ended 30 September 2021

Total contributions by and

distributions to owners

1,170,029

(89,966)

45,817

1,128,880

should instead be "(86,966)" as shown shaded in grey as follows:

CONDENSED INTERIM CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

Equity

Attributable

Share

Retained

Other

to Owners of

Capital

Earnings

Reserves

the Company

$'000

$'000

$'000

$'000

Group

Full year ended 30 September 2021

Total contributions by and

distributions to owners

1,170,029

(86,966)

45,817

1,128,880

1

  1. page 4 of the Financial Statements - Condensed interim consolidated statement of changes in equity. With reference to "Total transactions with owners in their capacity as owners", the number "44,309" as shown shaded in grey as follows:

CONDENSED INTERIM CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

Equity

Attributable

Share

Retained

Other

to Owners of

Capital

Earnings

Reserves

the Company

$'000

$'000

$'000

$'000

Group

Full year ended 30 September 2021

Total transactions with owners in

their capacity as owners

1,170,029

(78,919)

44,309

1,135,149

should instead be "44,039" as shown shaded in grey as follows:

CONDENSED INTERIM CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

Equity

Attributable

Share

Retained

Other

to Owners of

Capital

Earnings

Reserves

the Company

$'000

$'000

$'000

$'000

Group

Full year ended 30 September 2021

Total transactions with owners in

their capacity as owners

1,170,029

(78,919)

44,039

1,135,149

  1. page 32 of the Financial Statements - Intangible Assets. The percentages in relation to assessing the recoverable amount of the goodwill arising from the Geneba and Alpha Acquisitions as shown shaded in grey as follows:
    13. INTANGIBLE ASSETS

(a) Goodwill

  1. Industrial
    1. The Group recorded the goodwill upon the acquisition of Geneba Properties N.V.
      (the "Geneba Acquisition") and Alpha Industrial GmbH & Co. KG. and Alpha Industrial Management GmbH (the "Alpha Acquisition").
      The goodwill arising from the Geneba and Alpha Acquisitions are aggregated as a single CGU as the CGU is managed by the same asset management team. The recoverable amount is estimated based on value-in-use calculations using a projection of the net management fee income over a 10-year period. The pre-tax discount rate applied to the projections is 5.0% (30 September 2020: 4.0%) and the terminal growth rate used beyond the 10-year period is 6.0% (30 September 2020: 6.0%). Based on the recoverable amount, no impairment is necessary.
      As at 30 September 2021, the carrying value of goodwill is EUR65,978,000 ($103,803,000) (30 September 2020: EUR65,978,000 ($105,655,000)).

2

should instead be the percentages as shown shaded in grey as follows:

13. INTANGIBLE ASSETS

(a) Goodwill

  1. Industrial
    1. The Group recorded the goodwill upon the acquisition of Geneba Properties N.V.
      (the "Geneba Acquisition") and Alpha Industrial GmbH & Co. KG. and Alpha Industrial Management GmbH (the "Alpha Acquisition").
      The goodwill arising from the Geneba and Alpha Acquisitions are aggregated as a single CGU as the CGU is managed by the same asset management team. The recoverable amount is estimated based on value-in-use calculations using a projection of the net management fee income over a 10-year period. The pre-tax discount rate applied to the projections is 4.0% (30 September 2020: 4.0%) and the terminal growth rate used beyond the 10-year period is 0.7% (30 September 2020: 0.1%). Based on the recoverable amount, no impairment is necessary.
      As at 30 September 2021, the carrying value of goodwill is EUR65,978,000 ($103,803,000) (30 September 2020: EUR65,978,000 ($105,655,000)).

The changes set out above have no material impact on the financial position of the Group. The revised Financial Statements incorporating the abovementioned changes is enclosed. All other information and figures in the Financial Statements remain unchanged.

BY ORDER OF THE BOARD

Catherine Yeo

Company Secretary

3 December 2021

3

Disclaimer

Frasers Property Limited published this content on 03 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 December 2021 20:51:01 UTC.


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Sales 2022 3 588 M 2 666 M 2 666 M
Net income 2022 213 M 158 M 158 M
Net Debt 2022 14 284 M 10 612 M 10 612 M
P/E ratio 2022 18,3x
Yield 2022 2,09%
Capitalization 4 436 M 3 293 M 3 296 M
EV / Sales 2022 5,22x
EV / Sales 2023 4,33x
Nbr of Employees 5 032
Free-Float 12,5%
Chart FRASERS PROPERTY LIMITED
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Frasers Property Limited Technical Analysis Chart | TQ5 | SG2G52000004 | MarketScreener
Technical analysis trends FRASERS PROPERTY LIMITED
Short TermMid-TermLong Term
TrendsNeutralNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 4
Last Close Price 1,13 SGD
Average target price 1,37 SGD
Spread / Average Target 21,1%
EPS Revisions
Managers and Directors
Panote Sirivadhanabhakdi Group CEO & Non-Independent Executive Director
Choo Leong Loo Group Chief Financial Officer
Charoen Sirivadhanabhakdi Non-Independent Non-Executive Chairman
Ming Ying Mak Lead Independent Non-Executive Director
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