Frasers Commercial Asset Management Ltd.

438 Alexandra Road
#21-00 Alexandra Point
Singapore 119958
Phone: +65 6276 4882
Fax: +65 6276 8942

Directors of the manager

Mr Bobby Chin Yoke Choong

Independent Non-Executive Director

Mr Chang Tou Chen

Independent Non-Executive Director

Ms Soh Onn Cheng Margaret Jane

Independent Non-Executive Director

Mr Chia Khong Shoong

Non-Executive Director

Mr Low Chee Wah

Non-Executive Director

Mr Christopher Tang Kok Kai

Non-Executive Director

Audit, risk and compliance committee

Name Position
Mr Chang Tou Chen Chairman
Mr Bobby Chin Yoke Choong Member
Ms Soh Onn Cheng Margaret Jane Member

Nominating and remuneration committee

Name Position
Ms Soh Onn Cheng Margaret Jane Chairperson
Mr Bobby Chin Yoke Choong Member
Mr Chang Tou Chen Member
Mr Christopher Tang Kok Kai Member

Company secretary

Ms Catherine Yeo

SGX short trading name

Frasers Com Tr


British and Malayan Trustees Limited

1 Coleman Street #08-01
The Adelphi Singapore 179803
Phone: +65 6535 4922
Fax: +65 6535 1258


Barclays Bank Plc (Singapore Branch)
BNP Paribas Singapore Branch
Cathay United Bank
Citibank N.A., Singapore Branch
Commonwealth Bank of Australia, Singapore Branch
DBS Bank Limited
Oversea-Chinese Banking Corporation Limited
The Bank of East Asia, Singapore Branch



16 Raffles Quay #22-00
Hong Leong Building
Singapore 048581
Phone: +65 6213 3388
Fax: +65 6225 0984
Partner-in-charge: Karen Lee Shu Pei
Appointed: 20 January 2016

Corporate governance

Frasers Commercial Trust (“FCOT”) is a real estate investment trust (“REIT”) listed on the Main Board of the Singapore Exchange Securities Trading Limited (the “SGX-ST”). FCOT is managed by Frasers Commercial Asset Management Ltd. (the “Manager”), a wholly-owned subsidiary of Frasers Property Limited (“FPL” or the “Sponsor”).

In line with the listing rules of the SGX-ST (the “Listing Rules”) and its obligations under the Guidelines to All Holders of a Capital Markets Services Licence for Real Estate Investment Trust Management (Guideline No: SFA04–G07) issued by the Monetary Authority of Singapore (“MAS”), the Manager complies with the principles of the Code of Corporate Governance 2018 (the “CG Code”). Even though the CG Code applies to annual reports covering financial years commencing from 1 January 2019, the Manager has elected to adopt and comply with Rule 710 of the listing manual of the SGX-ST (the “SGX-ST Listing Manual”) to describe its corporate governance practices with specific reference to the principles and the provisions of the CG Code (and not the Code of Corporate Governance 2012).

The practices and activities of the Board of Directors (the “Board”) and the management of the Manager (the “Management”) adhere closely to the provisions under the CG Code.

To the extent the practices may vary from any provision of the CG Code, the Manager will explain the reason for the variation and how the practices nevertheless are consistent with the intent of the relevant principle of the CG Code. The Manager is also guided by the voluntary Practice Guidance which was issued to complement the CG Code and which sets out best practices for issuers; as this will build investor and stakeholder confidence in FCOT and the Manager. A summary of compliance with the express disclosure requirements in the principles and provisions of the CG Code is set out on pages 135 to 136 of FY2019 Annual Report.

The Manager has general powers of management over the assets of FCOT. As a manager of a REIT, the Manager holds a Capital Markets Services Licence issued by the MAS to carry out REIT management activities.

The Manager’s main responsibility is to manage FCOT’s assets and liabilities for the benefit of unitholders of FCOT (“Unitholders”). To this end, the Manager is able to set the strategic direction of FCOT and make recommendations to British and Malayan Trustees Limited, in its capacity as trustee of FCOT (the “Trustee”), on acquisitions, divestments and enhancement of the assets of FCOT. It also supervises the property managers who perform the day-to-day management of FCOT’s properties, namely, China Square Central and Alexandra Technopark in Singapore, Central Park, Caroline Chisholm Centre and 357 Collins Street in Australia and Farnborough Business Park in the United Kingdom. The role of the Manager includes the pursuit of a business model that sustains the growth and enhances the value of FCOT and is focussed on delivering regular and stable distributions to Unitholders. Other functions and responsibilities of the Manager include preparing annual asset plans, undertaking regular individual asset performance analysis and market research analysis, and managing finance functions relating to FCOT (which includes financial and tax reporting, capital management, treasury and preparation of consolidated budgets).

Whistle-Blowing Policy

FCOT's corporate governance reports

You can download FCOT's Corporate Governance Reports from the links below:


29 Nov 2019 | PDF (238 KB)


20 Dec 2018 | PDF (153 KB)


22 Dec 2017 | PDF (143 KB)


23 Nov 2016 | PDF (80 KB)


23 Nov 2015 | PDF (103 KB)


23 Nov 2014 | PDF (316 KB)


23 Nov 2013 | PDF (462 KB)


23 Dec 2012 | PDF (155 KB)


23 Nov 2011 | PDF (294 KB)


23 Nov 2010 | PDF (113 KB)


23 Nov 2009 | PDF (325 KB)


23 Nov 2008 | PDF (490 KB)


23 Nov 2007 | PDF (82 KB)


22 Dec 2006 | PDF (426 KB)

Sustainability report

We strive to create a sustainable and responsible business by adopting business practices that are beneficial to our stakeholders and will positively impact the environment and community around us.

For the first time, in 2019, we participated in the GRESB Real Estate Assessment, which is a global ESG performance benchmark for listed and unlisted real estate companies and funds. We are pleased that FCOT achieved a rating of 4 stars out of the maximum 5 stars in the assessment and scored 82 points out of the maximum 100 points, outperforming the global average score of 72 points. In addition, FCOT was ranked 3rd among its peer group in Asia Pacific1. FCOT also scored an ‘A’ for GRESB Public Disclosure, which measures material sustainability disclosures by listed real estate companies and REITs. These results and accolades attest to our ongoing commitment to integrate sustainability consciousness in the business and operations of FCOT.

The Properties have various green certifications and accolades2, and we continued to make progress in our sustainability performance in FY2019. Average greenhouse gas emissions intensity improved by 11.0% year-on-year compared to FY2018. Employees of the Manager went through 929.1 hours of training in FY2019, which translated to an average of 46.5 hours per employee and exceeded the target of 40.0 hours per employee. During the financial year we also conducted a survey with internal and external stakeholders including employees, tenants and the investment community, to garner their views on ESG factors which are material to our business, operations and stakeholders.

The Board considers sustainability as an important part of FCOT’s longterm business strategies, and this includes, among other things, the management of the relevant ESG aspects in relation to FCOT and the Properties. Our approach is aligned with that of our sponsor, Frasers Property, where sustainability is anchored on the unifying idea of ‘Experience Matters’ which focuses on the ‘experience’ of customers and employees of the Frasers Property Group. Demonstrating our commitment towards sustainability, we have set targets to be achieved over the next 12 months for 10 material ESG factors.

FCOT’s sustainability efforts are supported by the Fraser Property’s Sustainability Steering Committee (SSC) and the Sustainability Working Committee (SWC). The SSC oversees the initiatives and strategies that drive sustainability and the SWC monitors sustainability performance, implements sustainability plans and maintains communications with various stakeholders.

FCOT is a constituent of two indices relating to sustainability, namely the iEdge Singapore ESG Leader and iEdge Singapore ESG Transparency indices3. Sustainability will continue to be one of the key pillars in achieving our business aspirations and to deliver long-term growth to our Unitholders. We strive to achieve sustainable growth while managing our impacts on the environment and the communities that we operate in.

Board of Directors
Frasers Commercial Asset Management Ltd.
(as manager of Frasers Commercial Trust)

  1. Peer group as defined by GRESB.
  2. See page 88 of FY2019 Annual Report for details.
  3. Source: SGX sustainability indices as at 30 September 2019.

FCOT's sustainability reports

You can download FCOT's Sustainability Reports from the links below:

FY2019 Sustainability Report

29 Nov 2019 | PDF 17821 kb

FY2018 Sustainability Report

20 Dec 2018 | PDF 1571 kb

FY2017 Sustainability Report

22 Dec 2017 | PDF 3412 kb

FY2016 Sustainability Report

20 Dec 2016 | PDF 2267 kb

FY2015 Sustainability Report

16 Dec 2015 | PDF 1042 kb

Credit rating

Rating Agency Ratings Outlook Credit Analyst's Contact
Moody’s Investor Service Baa2 Stable Jacintha Poh
Contact: (65) 6398 8300

With effect from 29 April 2020, following the merger with Frasers Logistics & Industrial Trust, please refer to the website of Frasers Logistics & Commercial Trust for further information.