Maybank Research Pte Ltd April 16, 2025
Dropping Coverage: Frasers Hospitality Trust (FHT SP)
Frasers Hospitality Trust (FHT SP) has announced that Maybank Research Pte. Ltd. is dropping coverage of the company due to reallocation of resources. Our last rating was BUY with a target price of SGD0.48. Going forward, our rating and TP should no longer be relied upon.
Company Description
Frasers Hospitality Trust invests in income-producing hospitality real estate and related assets.
Statistics
52w high/low (SGD): 0.60/0.42
3m avg turnover (USDm): 36.5
Free float (%): 25.8
Issued shares (m): 1,926
Market capitalisation: SGD1.1B
Major shareholders:
Tcc Group Investments Ltd.: 36.7%
Frasers Property Ltd.: 25.8%
Metro Holdings Ltd.: 0.7%
Price Performance
Period Price (SGD) Change (%)
Apr-23
Jul-23
Oct-23
Jan-24
Apr-24
Jul-24
Oct-24
Jan-25
Apr-25 0.58
Research Team
Our research team consists of experienced analysts covering various sectors and regions:
ECONOMICS: Suhaimi ILIAS, Chief Economist; Chua Hak Bin, Regional Thematic Macroeconomist; Erica TAY, China | Thailand; Brian LEE Shun Rong, Indonesia | Singapore | Vietnam; Azril ROSLI, Malaysia | Philippines | Global; Fatin Nabila MOHD ZAINI, Malaysia | Philippines; Luong Thu Huong,
STRATEGY: Anand PATHMAKANTHAN, ASEAN;
FIXED INCOME: Winson PHOON, FCA, Head of Fixed Income;
PORTFOLIO STRATEGY: ONG Seng Yeow; Sean LIM;
MIBG SUSTAINABILITY RESEARCH: Jigar SHAH, Head of Sustainability Research; Neerav DALAL;
REGIONAL EQUITIES: Anand PATHMAKANTHAN, Head of Regional Equity Research; WONG Chew Hann, CA, Head of ASEAN Equity Research;
Disclaimers and Disclosures
This research report is prepared for general circulation and for information purposes only and under no circumstances should it be considered or intended as an offer to sell or a solicitation of an offer to buy the securities referred to herein.
Investors should note that values of such securities, if any, may fluctuate and that each security’s price or value may rise or fall. Opinions or recommendations contained herein are in the form of technical ratings and fundamental ratings.
Technical ratings may differ from fundamental ratings as technical valuations apply different methodologies and are purely based on price and volume-related information extracted from the relevant jurisdiction’s stock exchange in the equity analysis.
Accordingly, investors’ returns may be less than the original sum invested. Past performance is not necessarily a guide to future performance.
This report is not intended to provide personal investment advice and does not take into account the specific investment objectives, the financial situation and the particular needs of persons who may receive or read this report.
Investors should therefore seek financial, legal and other advice regarding the appropriateness of investing in any securities or the investment strategies discussed or recommended in this report.
The information contained herein has been obtained from sources believed to be reliable but such sources have not been independently verified by Maybank Investment Bank Berhad, its subsidiary and affiliates (collectively, “Maybank IBG”) and consequently no representation is made as to the accuracy or completeness of this report by Maybank IBG and it should not be relied upon as such.
Accordingly, Maybank IBG and its officers, directors, associates, connected parties and/or employees (collectively, “Representatives”) shall not be liable for any direct, indirect or consequential losses or damages that may arise from the use or reliance of this report.
Any information, opinions or recommendations contained herein are subject to change at any time, without prior notice.
This report may contain forward-looking statements which are often but not always identified by the use of words such as “anticipate”, “believe”, “estimate”, “intend”, “plan”, “expect”, “forecast”, “predict” and “project” and statements that an event or result “may”, “will”, “can”, “should”, “could” or “might” occur or be achieved and other similar expressions.
Such forward-looking statements are based on assumptions made and information currently available to us and are subject to certain risks and uncertainties that could cause the actual results to differ materially from those expressed in any forward-looking statements.
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Historical Recommendations and Target Price
Date Recommendation Target Price (SGD)
18 Apr Hold 0.5
4 May Hold 0.5
10 Feb Buy 0.5
8 Nov Buy 0.5
10 May Buy 0.5
7 Aug Buy 0.5
Definition of Ratings
Maybank IBG Research uses the following rating system:
BUY: Return is expected to be above 10% in the next 12 months (including dividends)
HOLD: Return is expected to be between 0% to 10% in the next 12 months (including dividends)
SELL: Return is expected to be below 0% in the next 12 months (including dividends)
Applicability of Ratings
The respective analyst maintains a coverage universe of stocks, the list of which may be adjusted according to needs.
Investment ratings are only applicable to the stocks which form part of the coverage universe.
Reports on companies which are not part of the coverage do not carry investment ratings as we do not actively follow developments in these companies.
Contacts
For further information, please contact:
Malaysia: Maybank Investment Bank Berhad
Singapore: Maybank Securities Pte Ltd
London: Maybank Securities (London) Ltd
Hong Kong: MIB Securities (Hong Kong) Limited
Indonesia: PT Maybank Sekuritas Indonesia
India: MIB Securities India Pte Ltd
Philippines: Maybank Securities Inc
Thailand: Maybank Securities (Thailand) PCL
Vietnam: Maybank Securities Limited
