Frasers Property Posts 148% Profit Surge on Singapore Business

Frasers Property Ltd., controlled by Thai billionaire Charoen Sirivadhanabhakdi, reported a significant surge in net profit for the first half of FY2025, with net income rising to SGD135.6 million (US$104 million), a 3.7 times increase year-on-year, primarily driven by strong residential property performance in Singapore. Despite a 40% profit decline in China, the company is cautiously expanding there, having acquired a residential plot in Shanghai and looking for opportunities in key cities. Revenue increased modestly by about 2.7%, while profit before tax and exceptional items fell 13.5% due to higher interest expenses and other factors. Frasers Property also launched a new ultra-luxury residential project in Bangkok targeting the high-end market with unique architectural style and strong location connectivity, expecting land prices in the area to continue rising. The company’s CEO emphasized vigilance amid global uncertainties, aiming to strengthen the balance sheet and maintain operational agility. Frasers Property’s net debt increased due to capital expenditure and acquisitions, but shares remained stable following the profit announcement.