UPDATE: SG brief: Frasers Property and Frasers Hospitality Trust

Fraser Residence in Singapore by Frasers HospitalityFraser Residence in Singapore by Frasers Hospitality

This item was originally published on Thursday, 9 June 2022 at 14:38 SGT; it has since been updated with ownership of Frasers Hospitality Trust.

Both Frasers Property and Frasers Hospitality Trust have requested trading halts before the market open Thursday pending an announcement.

Thai tycoon Charoen Sirivadhanabhakdi’s TCC Group is targeting a S$500 million loan to take Frasers Hospitality Trust private, Bloomberg reported Thursday, citing unnamed sources. TCC Group is the majority shareholder of both Frasers Property and Frasers Hospitality Trust, the report said.

Frasers Hospitality Trust is 36.72 percent owned by TCC Hospitality as of November 2021, and 24.23 percent held by FCL Investments as of February 2022, according to SGX data. Frasers Hospitality Trust’s annual report indicates Frasers Property Hospitality Trust Holdings holds the 24.23 percent stake. The annual report of Frasers Property, which SGX data show is around 58 percent owned by TCC Assets, indicates it holds an effective 25.8 percent interest in the REIT as of end-September 2021.