Frasers Property (SGX:TQ5) secured shareholder approval at an extraordinary general meeting for the proposed optimization of its hospitality assets under the privatised Frasers Hospitality Trust, according to a Friday filing with the Singapore Exchange.
The transaction unlocks capital from mature assets, enhances financial flexibility and provides full ownership of Fraser Suites Singapore to facilitate the redevelopment of the Valley Point site, the company said.
Completion is expected by the end of fiscal year 2026.
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