MOODY'S Investors Service has changed its outlook on Ascott Residence Trust (ART) and Frasers Hospitality Trust (FHT) to “stable” from “negative” while affirming its Baa3 rating for both trusts.

Moody’s changes outlook on ART, FHT to stable; affirms Baa3 ratings

THE managers of Frasers Hospitality Trust (FHT) said on Friday (Apr 8) that they have not received any written proposals for them to take on a new business strategy, nor have they made any decision on the matter as yet.

No proposals or decisions on strategic option so far: Frasers Hospitality Trust

TALKS of a possible privatisation have sent the stapled securities of Frasers Hospitality Trust (FHT) climbing in Friday's (Apr 8) trade.

Hot stock: Frasers Hospitality Trust up by more than 7% on talks of privatisation

3:40 PM IST, 08 Apr 2022
12:40 PM IST, 08 Apr 2022
3:40 PM IST, 08 Apr 2022
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(Bloomberg) -- Singapore-based Frasers Hospitality Trust is considering a plan to go private amid concerns that its share price doesn’t reflect the company’s value, people with knowledge of the matter said. Its shares jumped. (Bloomberg) -- Singapore-based Frasers Hospitality Trust is considering a plan to go private amid concerns that its share price doesn’t reflect the company’s value, people with knowledge of the matter said. Its shares jumped. The real estate investment trust has received board approval to explore a privatization and hired a financial adviser, the people said, asking not to be identified because the matter is confidential. The company may choose not to proceed if the deal structure isn’t favorable, they added. Shares of Frasers Hospitality spiked as much as 7.9%, the most since November 2020, after the Bloomberg News report. The stock is currently trading 5.3% higher, giving it a market value of S$1.16 billion ($850 million). The benchmark Straits Times Index is down 0.8%. The move reflects the conundrum faced by Singapore’s hospitality REITs, which have seen a sell-off as the pandemic battered the travel industry. The country will take “a few years” to return to pre-Covid tourism, Singapore Tourism Board Chief Executive Officer Keith Tan said in a Bloomberg Television interview on Friday. Frasers Hospitality Asset Management, which manages the REIT, said that from time to time the managers review strategic options to enhance and unlock value for shareholders. “There is no certainty or assurance that any transaction will result from such review, and the managers may decide to continue with FHT’s existing business strategy,” Frasers Hospitality Asset Management said Friday in an exchange filing after Bloomberg submitted queries. “No written proposals have been received and no decisions have been taken in this respect.”
With a portfolio valued at S$2.25 billion, according to figures published on its website, Frasers Hospitality Trust oversees 15 properties across Asia, Australia and Europe. The company reported higher revenue per average room across its Asia-Pacific and Europe portfolios, it said in its first-quarter business update in February. ©2022 Bloomberg L.P.

Singapore’s Frasers Hospitality Said to Weigh Going Private

TALK of a possible privatisation have sent the stapled securities of Frasers Hospitality Trust (FHT) climbing.

Frasers Hospitality Trust up by more than 5% on talks of privatisation

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Shangri-La Hotels and Resorts

Singapore Tourism Board

Frasers Hospitality offers hotel residences and boutique lifestyle hotels. It is based in Singapore.

Name	Work History	Title	Status
Peng Sum Choe	Shangri-La Hotels and Resorts	Chief Executive Officer	Former
Alan Tang	GIC, and Singapore Tourism Board	Chief Operating Officer	Former

Name	Peng Sum Choe	Alan Tang
Work History	Shangri-La Hotels and Resorts	GIC, and Singapore Tourism Board
Title	Chief Executive Officer	Chief Operating Officer
Status	Former	Former

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