186 views
Logo from Frasers Property Limited

Frasers Property Limited’s pre-sold revenue hits $2.4b in 1Q24

Its net debt-to-equity ratio also increased to 78%.

Frasers Property Limited (FPL) achieved a pre-sold revenue of $2.4b as of the end of December 2023, its 1Q24 results showed.

In the same period, FPL saw an increase in its net debt-to-equity ratio due to capital expenditure, partially offset by the divestment of stake in Changi City Point.

Its net gearing ratio for 1Q24 was 78%.

Given these factors, FPL said it is now “well positioned to repay and/or refinance all debt due in FY24.”

FPL said it is also “continuing efforts to extend debt maturities with a focus on green and/or sustainable financing.”

In Singapore, FPL achieved an unrecognised revenue of $0.9b and sold eight units in 1Q24. It also secured the Lorong 1 Toa Payoh site, which will likely yield 777 units.
 

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!