Frasers Property (formerly: Frasers Cpt (FCL))

[freedom]

FCL shares are probably pledged anyway. So there is no much difference for the banks loaning the money. They are getting paid as contracted. It does not matter where the money is from. The important thing is the capability to repay the loan. Remember TDSR from MAS?

Does the bank care whether the mortgage is paid by rent income from the collateral or the salary the borrower earns?

I agree bank will not care much, but Mr. Towkay cares.

No, he does not. What he cares more about is to own more assets, not few assets. So how could selling down his own assets help? I think again, agree to disagree.

Remember the transaction of Keppel Land selling OFC lease to Keppel REIT. Why so? There is no reason to give up a good asset though it could still control much of it. It is not as good as owning it all. Another transaction is Keppel Land buying Keppel Tower and GE tower back from Kepple REIT. Keppel Land will not share the profit of owing a good asset with other shareholders.