FRASERS Hospitality Trust’s (FHT) stapled securities have surged around 40 per cent in one month.
They were trading at S$0.42 on Nov 29, 2024, and then rose to S$0.59 on Dec 31 – a 40.4 per cent jump; these securities closed at S$0.55 on Friday (Jan 3), down 3.5 per cent or S$0.02.
Trading volumes also jumped, going from around 321,000 units traded on Nov 29, to a high of 14.17 million units on Dec 6.
Frasers Hospitality Trust comprises Frasers Hospitality Real Estate Investment Trust and Frasers Hospitality Business Trust.
In a filing to the Singapore Exchange on Dec 31, the manager of the group, Frasers Hospitality Asset Management, said it has noted the “significant” movements in the price and trading volume of the stapled securities.
“The managers would like to clarify that they are not aware of the specific reason for, or the basis of, the recent trading activity,” it said in the filing.
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In the last second-half earnings that Frasers Hospitality Trust (FHT) reported last Nov 12, gross revenue and net property income (NPI) for H2 had risen, tracking a continued recovery in the stapled group’s overall operating performance.
Its portfolio valuation as at Sep 30, 2024, was around S$2 billion – a 2.9 per cent year-on-year increase in Singapore dollar terms.
Eric Gan, chief executive of FHT’s managers, said then that the group’s financial performance was boosted by the recovery in the global hospitality sector.
FHT’s Singapore portfolio includes properties such as the hotel, InterContinental Singapore, and the serviced residence, Fraser Suites Singapore.
The group also has properties in countries such as Australia, the United Kingdom, Malaysia and Japan, among other places.
