A spokesperson from FPL declined to comment, saying that the group does not comment “on market speculation or rumours."
For the FY2023 ended Sept 30, 2023, FPL reported earnings of $123.2 million, down 85.9% y-o-y. During the 2HFY2023, the group reported a loss of $74.0 million mainly due to non-cash, unrealised net fair value losses of $441.8 million on the group’s properties in the UK, Australia and the European Union (EU).
The group’s net asset value (NAV) as at Sept 30, 2023 stood at $2.52, down from the $2.64 a year ago.
Cash and cash equivalents as at the same period stood at $2.66 billion.
See also: Frasers Property books fair value losses, eyes ways to bridge the value gap
Chairman Charoen Sirivadhanabhakdi is deemed to have an interest in an 87.0% stake in FPL through his stakes in fellow Singapore Exchange(SGX)-listed Thai Beverage(ThaiBev) and TCC Assets, which is unlisted.
