Frasers Property plans to create a strategic business unit to combine its industrial and logistics operations in Australia and Europe. Its asset and property management related to Singapore-listed Frasers Logistics & Industrial Trust will also be included, the company said Monday.
The new operating platform is expected to report as a discrete business unit in fiscal 2020, Frasers Property said in a filing to SGX.
The unit will be led by Reini Otter as CEO and Matt Knox as chief financial officer, both of whom were promoted from Frasers Property’s Australian operations, the company said.
“Our industrial and logistics business in Australia and Europe has grown rapidly over the past five years, from S$1.6 billion to S$5.4 billion,” group CEOPanote Sirivadhanabhakdi said in the filing. “We believe this integration will allow us to better serve the needs of our customers, scale faster and more effectively through active asset creation and strategic asset management.”
The new platform will be working closely with Frasers Property Thailand, one of Thailand’s largest industrial and logistics operators, Frasers Property said.
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