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MarketScreener Homepage  >  Equities  >  Singapore Stock Exchange  >  Frasers Property Limited    TQ5   SG2G52000004

FRASERS PROPERTY LIMITED

(TQ5)
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Gaming firm Razer to roll out mask vending machines in Singapore

05/13/2020 | 01:17am EST
A vending machine that dispenses masks made by Razer is seen in Singapore

Gaming hardware maker Razer Inc plans to dispense its locally produced masks in Singapore through a network of vending machines across the city-state, where it has become compulsory to wear them in public.

The company said it will initially deploy 20 machines at Frasers Property's malls and JustCo co-working centres around the business district by June 1 when Singapore is set to lift lockdown measures.

Razer, known for its gaming gear such as consoles and keyboards, is among a wave of companies that have modified or set up new factory lines to meet a surge in demand for medical products during the COVID-19 pandemic.

The company said it has tied up with Sunningdale Tech Ltd, a precision plastic manufacturer, to soon double its surgical mask production capacity to up to 10 million a month after setting up a manufacturing line in April in Singapore.

Singapore, which keeps a national stockpile of masks, last month made it mandatory to wear them in public and has distributed reusable masks.

Authorities have been looking for new sources of supply and developing local manufacturing capabilities for masks amid global shortages for medical protective equipment.

"Razer will continue our endeavours in supporting Singapore to be self-sufficient for face masks as a nation," said Min-Liang Tan, Razer's chief executive officer.

Razer will provide an initial five million masks free for citizens and residents aged 16 and over, after which they will be available for purchase.

The company will allocate the masks through its mobile wallet app, Razer Pay.

(Reporting by Aradhana Aravindan in Singapore; Editing by Stephen Coates)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
FRASERS PROPERTY LIMITED -0.80% 1.24 End-of-day quote.-26.63%
RAZER INC. 0.74% 2.72 End-of-day quote.114.17%
SUNNINGDALE TECH LTD 0.00% 1.52 End-of-day quote.14.29%
THE GLOBAL LTD. 12.67% 329 End-of-day quote.-30.15%
THE NEW HOME COMPANY INC. 2.19% 5.61 Delayed Quote.20.39%
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Financials
Sales 2020 2 928 M 2 188 M 2 188 M
Net income 2020 410 M 306 M 306 M
Net Debt 2020 14 584 M 10 896 M 10 896 M
P/E ratio 2020 9,89x
Yield 2020 3,58%
Capitalization 3 628 M 2 709 M 2 711 M
EV / Sales 2020 6,22x
EV / Sales 2021 5,94x
Nbr of Employees 4 960
Free-Float 12,6%
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Technical analysis trends FRASERS PROPERTY LIMITED
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Mean consensus OUTPERFORM
Number of Analysts 5
Average target price 1,48 SGD
Last Close Price 1,24 SGD
Spread / Highest target 37,1%
Spread / Average Target 19,4%
Spread / Lowest Target 0,81%
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Managers
NameTitle
Panote Sirivadhanabhakdi Group Chief Executive Officer & Executive Director
Teck Chuan Koh Chief Executive Officer
Charoen Sirivadhanabhakdi Non-Independent Non-Executive Chairman
Choo Leong Loo Group Chief Financial Officer
Khunying Wanna Sirivadhanabhakdi Non-Independent Non-Executive Vice Chairman