F&N spins off property arm

By AFP

SINGAPORE: Singapore-based food and beverage conglomerate Fraser & Neave (F&N) said it was spinning off its property business months after the firm was bought over by Thai tycoon Charoen Sirivadhanabhakdi.

The move was aimed at paving the way for further growth for both the food and beverage business as well as the property segment, F&N said in a statement yesterday.

The company said it planned to list its property arm, Frasers Centrepoint Ltd, on the Singapore Exchange, where F&N was already listed.

– Malaysia Property News

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