Listed Real Estate Asia, KT Capital Group

Jacob Cheng

Jacob has 7 years of professional buy-side experience in real estate investment and listed equities.  Jacob worked as a portfolio manager/analyst in Global Listed Real Estate team in AMP Capital and Macquarie Asset Management.  Prior to that, Jacob has spent 5 years in APG asset management, in the listed real estate team.  As one of the largest RE funds in Asia, he co-managed EUR6bn investment portfolio with the team with a focus on Hong Kong and China property.  He led the USD200m cornerstone investment in Wanda Commercial Properties IPO (the largest mall operator and developer in China).  Prior to this, Jacob has 3 years of experience in investment banking in Bank of America Merrill Lynch, covering equity, debt and M&A transactions across real estate, consumer& retail and TMT sectors.  Jacob specializes in fundamental bottom up research.  Aside from work, Jacob has a personal interest in spirituality and personal development.  He practiced meditation and has published a book about meaning of life in 2016.

Listed Real Estate Asia

CICT SP: Buy Singapore REITs on Steep Interest Rate Decline (3M SORA)

LONG Singapore REITs: Capturing the Yield Compression Cycle and Asset Recycling Renaissance

FCT SP: One of the Top Beneficiaries from Singapore Rate Steep Decline

LONG UOL – The Rerating Imperative in Singapore Real Estate

KT Capital Group

Principal investments and advisory firm that focuses on connecting the CIS countries with East Asia.

Principal investments and advisory firm

Equity Bottom-Up

<ul>
<li>Macro Rotation Trigger: Global volatility is forcing capital into ultra-defensive assets. FCT's 99.8% occupied, necessity-driven Singapore suburban retail portfolio is the ultimate inflation-insulated safe haven.</li>
<li>Explosive Operational Metrics: Boasting a massive +6.5% rental reversion and surging Net Property Income, FCT's impenetrable pricing power ensures highly predictable, non-dilutive DPU expansion.</li>
<li>Bulletproof Balance Sheet: With zero FY26 refinancing risk, an extended 3.92-year debt maturity, and locked 40% leverage, FCT’s fortress financials eliminate downside while priming for rate-cut upside.</li>
</ul>


Macro Rotation Trigger: Global volatility is forcing capital into ultra-defensive assets. FCT's 99.8% occupied, necessity-driven Singapore suburban retail portfolio is the ultimate inflation-insulated safe haven.
Explosive Operational Metrics: Boasting a massive +6.5% rental reversion and surging Net Property Income, FCT's impenetrable pricing power ensures highly predictable, non-dilutive DPU expansion.
Bulletproof Balance Sheet: With zero FY26 refinancing risk, an extended 3.92-year debt maturity, and locked 40% leverage, FCT’s fortress financials eliminate downside while priming for rate-cut upside.


LONG FCT: The Ultimate Asian Yield Fortress Defying Global Macro Volatility

Frasers Centrepoint

LONG FCT: The Ultimate Asian Yield Fortress Defying Global Macro Volatility