21 Mar 2024
Frasers Centrepoint Trust wins ‘Best Green Financing Solution in Singapore’
Fung Leng Chen, Vice President, Investor Relations at Frasers Centrepoint Trust (FCT) received the award on behalf of FCT at the award ceremony
Frasers Centrepoint Trust (FCT) clinched ‘Best Green Financing Solution, Singapore’ at The Asset Triple A Sustainable Finance / Digital Finance Awards 2024 for Singapore's first green financing solution with carbon credits, along with OCBC, the lender and sustainability coordinating bank.
The Asset Triple A Awards recognises the impact and difference an organisation makes in their industry. This award follows Frasers Property’s September 2022 US$400 million syndicated green term loan that was named ‘Best Green Loan’ at The Asset Triple A Sustainable Capital Markets Awards 2022.
A green and cool future for Tampines
Alongside the Singapore retail mall REIT’s other decarbonisation efforts, this green financing solution will further support FCT's Tampines 1 to progress towards carbon-neutral status encompassing all energy-related emissions.
Together with our retail mall Century Square, Tampines 1 will also be a part of the Tampines Distributed District Cooling (DDC) Network, Singapore’s first brownfield DDC network which aims to reduce carbon emissions, energy consumptions and other costs totalling up to S$130 million over 30 years. This will be completed by the first half of 2025.
Located in the heart of Tampines, Tampines 1 draws its crowd from the populous residential catchment, commuter traffic and working population in the East region.
The NEX phase for Frasers Centrepoint Trust
FCT continues to deliver value to its shareholders, tenants, occupiers, customers, communities, and partners.
First listed on the Singapore Exchange (SGX) in 2006, FCT had S$915 million worth of assets. Now with over S$6.5 billion in assets under management and a nine-mall portfolio, the REIT is a constituent of the Straits Times Index (STI) as at 18 March 2024.
The STI is a weighted index that tracks the performance of the top 30 companies listed on SGX.
NEX is the largest suburban retail mall in Northeast Singapore with a total net lettable area of 58,959 sqm spread over seven retail levels, including two basement levels.
FCT also proposed an acquisition of 24.5% of NEX from Frasers Property Limited, to bring FCT’s interest to 50% on completion, making it the largest retail mall owner in Singapore by net lettable area. This is subjected to the unitholders’ approval on 25 March 2024.