April 3, 2017 / 12:15 AM / 7 months ago

BRIEF-Frasers Centrepoint Limited enters into joint venture with TCC Assets

April 3 (Reuters) - Frasers Centrepoint Limited

* Development of project will be funded through a combination of equity, shareholders’ loans, bank loans and sale/lease proceeds from project

* Entered into a JV agreement with TCC Assets (Thailand) to establish a new joint venture company, One Bangkok Holdings Co., Ltd.

* Pursuant to JVA, both FPHT and TCCAT have agreed to fund capital in OBH of up to an aggregate of baht 35.8 billion (approximately s$1.4 billion)

* FPHT’s investment in OBH is expected to be financed through internal cash resources and borrowings

* JV not expected to have any material impact on net tangible assets or eps of fcl for financial year ending 30 September 2017

* FPHT and TCCAT will each have an effective shareholding interest of 19.9% and 80.1% respectively in OBH upon its establishment.

* Based on FPHT’s shareholding interest of 19.9% in OBH, capital commitment of FPHT of up to baht 7.1 billion will be funded Source text for Eikon: Further company coverage:

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