General Announcement::Clarification on The Business Times article titled "FCT's fourth-quarter DPU falls 6.5%"

Issuer & Securities

Issuer/ Manager
FRASERS CENTREPOINT ASSET MANAGEMENT LTD.
Securities
FRASERS CENTREPOINT TRUST - SG1T60930966 - J69U
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
25-Oct-2014 17:00:28
Status
New
Announcement Sub Title
Clarification on The Business Times article titled "FCT's fourth-quarter DPU falls 6.5%"
Announcement Reference
SG141025OTHRKU7G
Submitted By (Co./ Ind. Name)
Piya Treruangrachada
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)

Frasers Centrepoint Asset Management Ltd (the "Manager") refers to the article entitled "FCT's fourth-quarter DPU falls 6.5%" published in The Business Times on 24 October 2014.

The article reported that FCT's 4QFY14 distribution per unit (the "DPU") of 2.785 cents represents a decrease of 6.5 per cent from the year-ago payout of 2.98 cents in 4QFY13.

The Manager believes that the headline and article may give investors the impression that there has been a decline in FCT's operating performance, when in fact, the trust has delivered its best ever fourth-quarter performance.

The Manager wishes to clarify that the DPU for 4QFY13 included 0.35 cents per unit of retained cash from earlier quarters in FY2013. The DPU for 4QFY14 did not benefit from retained cash. As explained in FCT's results announcement dated 23 October 2014, if the timing difference in the payment of retained cash were to be excluded, the 4QFY14 DPU of 2.785 cents would be 5.9% higher year-on-year.

The Manager also wishes to highlight that on a full year basis, FY2014 DPU was 11.187 cents, up 2.4% from FY2013 DPU of 10.93 cents. This has been the eighth year that FCT has delivered consecutive DPU growth.

For more details, investors can refer to the press release and results presentation slides announced via the SGX in connection with FCT's financial results announcement on 23 October 2014.