FY22 Financial Highlights
Improved PBIT in Singapore, Australia and Hospitality
Business Segment
FY22
FY21
Change
Singapore
S$536.4 m
S$270.7 m
▲ 98.2%
Australia
S$80.8 m
S$60.8 m
32.9%
S$460.4 m
S$829.5 m
▼ 44.5%
Industrial
Industrial (excluding
unrealised valuation gain
S$460.4 m
S$473.8 m
▼ 2.8%
on change in use)
Hospitality
S$100.9 m
S$4.4 m
N/M
Thailand & Vietnam
S$100.2 m
S$196.7 m
▼ 49.1%
Others1
S$53.2 m
S$117.0 m
▼ 54.5%
Corporate and others
(S$82.7 m)
(S$54.4 m)
▲ 52.0%
TOTAL
S$1,249.2 m
S$1,424.7 m
12.3%
1. Consists of China and the UK.
We are Frasers Property
Remarks
Higher contribution from residential development and FCT plus share of fair
value gain of Frasers Tower
Higher contribution from development division due mainly to gain on disposals
of development rights and land site
Absence of unrealised valuation gain on change in use of a portfolio of
industrial assets transferred from properties held for sale to investment
properties
Excluding unrealised valuation gain on change in use, contributions decreased
following the divestment of Cross Street Exchange
Higher occupancies and higher room rates, primarily driven by UK properties
Excluding the share of FV change and El of JVs and associates, PBIT would
have increased by 2% due to improved operating performance across all FPT
segments, partially offset by lower level of settlements of residential units for
Q2 Thao Dien
Decline in contributions in China and the UK due to lower level of settlements
and additional provision for cladding costs on a UK development project
Absence of cost writeback in prior year, higher corporate overheads and higher
share of losses of associates
Excluding unrealised valuation gain on change in use, PBIT would have
increased by 16.9% from S$1,069.0 million to S$1,249.2 million
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