Frasers Property to form $5.4 billion integrated industrial and logistics platform
Frasers Property Limited (“Frasers Property” and together with its subsidiaries, the “Group”), today announced the formation of an integrated industrial and logistics platform.
It will combine its industrial and logistics operations in Australia and Europe, and asset and property management in relation to the Group’s Singapore-listed Frasers Logistics & Industrial Trust (“FLT”).
The integrated industrial and logistics platform will become a strategic business unit representing SGD $5.4 billion assets.
It is expected to report as a discrete strategic business unit in FY2020.
The integrated platform will be led by Reini Otter (pictured above) as Chief Executive officer and Matt Knox (pictured below) as Chief Financial officer (CFO), who have both been promoted from Frasers Property’s Australian operations.
“Our industrial and logistics business in Australia and Europe has grown rapidly over the past five years, from S$1.6 billion to S$5.4 billion1,2. We are building upon our multi-national industrial and logistics capabilities to better support the Group’s growing investment in this asset class for the long-term, in a focused and integrated fashion,” said Panote Sirivadhanabhakdi, Group Chief Executive officer.
The manager of FLT will remain under the leadership of Robert Wallace as Chief Executive officer.
