Thanks for joining. Good morning and a very happy Friday to everyone. I'm CK, Investor Relations. As usual, thanks for taking the time to join us at FLCT's full year 2025 results analyst briefing. For practice, our session starts with a pitch turn of the presentation slides by management, followed by a Q&A session. As usual, I'll do a quick introduction. All familiar names here. We have our CEO in the middle, Ms. Anthea Lee, and she's flanked by Wah Keong, our CFO, and Jake, Head of Portfolio Management. Without any further ado, let's get the show started. I'm going to hand the time over to Anthea to kickstart this presentation. Anthea, over to you. Thanks, CK. Hi, good morning, everyone. Thank you for joining us this morning. Happy to present an overview of our performance for FY 2025. For the second half of FY 2025, we delivered a DPU of SGD 0.0295. For FY 2025, the logistics and industrial segment remain healthy with a reversion rate of 39.6%. Trailing 12-month cost was broadly stable at 3.1% and a slight uptick to 3.2% on a trailing three-month basis. I'm happy to share that FLCT has maintained its five-star GRESB rating for the ninth consecutive year and was named Global Sector Leader again in our participating category. I will now hand it over to Wah Keong, who will take you through the financial highlights. Thanks, Anthea. I will now take you through the key drivers behind our FY 2025 financial performance. Our revenue and adjusted NPI saw an uplift this year, primarily due to the contributions from 2 Tuas South Link 1 since November 2024. Full-year contributions from the acquisition of interest in four German logistics properties completed on 27 March 2024, improved overall contribution from our U.K. business parks, and additional contribution from Maastricht, effective October 2024. These gains were actually offset by higher vacancy at ATP Singapore. Impact of a lower average AUD-SGD exchange rates compared to last year, FY 2024. The increased land taxes in Victoria and Queensland effective January and July 2024, respectively. Finance cost rose mainly due to the additional borrowing drawn to fund the development and acquisitions mentioned just now. Higher interest rates from the refinancing existing borrowings. Distribution income declined due to the higher finance cost and increased tax expense. This was partially offset by a higher proportion of management fee paid and payable in units, 69.8% in FY 2025 against the 49.7% in FY 2024. Next slides for second half of FY 2025. I will focus on a few figures to highlight. Our revenue increased by 3.7% to SGD 239.2 million, compared to SGD 230.6 million in the second half of FY 2024, driven largely by the similar factors as shared in the previous slide. Adjusted NPI also similarly grows by 2.2% to SGD 164.9 million in the second half of FY 2025, up from SGD 161.3 million in second half FY 2024. For second half FY 2025, our DPU before the distribution of divestment gains was SGD 0.0269, which represent an increase of 4.7% from the year prior. With 96% of management fee taken in units for the second half of FY 2025 and inclusive of capital contributions from the divestment gains equivalent to SGD 0.0026 per unit. Our second half FY 2025 DPU is SGD 0.0295. I will speak more about our DPU performance in the next slides. These slides cover our DPU performance for the year. In second half FY 2025, we steadily reduced capital distributions of SGD 0.0026, representing less than 9% of second half FY 2025 DPU. These decisions are consistent with our earlier guidance to pursue a balanced approach of preserving debt headrooms for growth while supporting near-term distribution stability. To add, second half FY 2025 DPU before capital distributions also saw an increase on both a sequential and year-on-year basis, supported by the 96% of the management fee in units during second half FY 2025. Looking ahead, barring any unforeseen circumstances, we expect FY 2026 distributions not to exceed the level in second half FY 2025 and approximately 75% of the management fee to be paid in units for FY 2026. We now move on to our balance sheets. The value of investment property edged out about 0.9% to SGD 6.9 billion, largely attributable to the completion of the acquisition of 2 Tuas South Link 1 Singapore, as well as a positive change in fair value of investment properties. NAV per unit is at SGD 1.1 as of 30th September 2025. Next is our capital management, slide 11. As of 30th September 2025, FLCT's total gross borrowings was SGD 2.5 billion with SGD 273 million in undrawn committed facilities available, which can meet the debt obligations due in FY 2026. In terms of our debt metrics, gearing decreased slightly to 35.7% compared to 36.8% in third quarter of FY 2025. This leaves us a headroom of SGD 507 million before reaching the 40% gearing threshold. The divestment of 357 Collins Street is completed on 30th September 2025, and the proceeds were deployed for debt repayment subsequent to the balance sheet date. Assuming the debt repayment occurred on 30 September 2025, the pro forma aggregate leverage ratio would reduce to 34.2%. We also continue to maintain a well spread debt maturity profile with just 19% of the debt due for refinancing in FY 2026, and no single year accounting for more than 29%. Our debt composition by currency also remains fairly stable. EUR stands at around 50%, SGD 30%, AUD 8%, and finally, GBP for 12%. Our disciplined capital management approach has delivered a stable average cost of debt with trailing 12-month and 3-month cost of borrowing at 3.1% and 3.2%, respectively. Now the distribution timetable, slide 12. Our DPU of SGD 0.0295 per unit for the second half of FY 2025 will be paid on 23rd December 2025. I will hand the next segment of the presentations to our colleague, Jake. Thanks, Wah Keong. Good morning, everyone. We will start off with the portfolio valuation. As at 30 September 2025, our portfolio of 113 properties is valued at SGD 6.9 billion. This represents a slight increase of 0.5% compared to the carrying value. The valuation is anchored by the L&I portfolio, with the commercial portfolio operating against a challenging office environment, registering some decline. Looking at each sector in more detail, starting with L&I, the 106 logistics industrial properties are valued at SGD 5,153.1 million, and that is up 1.5% from the carrying value. Breaking this down by region, in Australia, which represents our largest market with 61 properties, we saw a healthy growth with valuations up 2.9% to AUD 3 billion, supported by continued market rent growth and significant rental reversions unlocked through new leasing. This translates to an average CAP rate of 5.9%. For our European portfolio of 40 properties across Germany and the Netherlands, we saw the value hold stable at approximately EUR 1.4 billion. The German and Dutch asset valuations reflect a net initial yield of 4.8%. In the U.K., our four properties, these are the four L&I properties, were valued at GBP 154.6 million, which is up 2.8% on the carrying value, with net initial yields averaging 5.1%. At 2S, our property in Singapore, it was valued at SGD 145 million, representing a CAP rate of 5.75%. Next slide covers our commercial portfolio valuation. Our commercial portfolio consisting of seven properties is valued at SGD 1.7 billion as at September, showing a decrease of 2.3% from the carrying value, primarily due to upcoming lease expiries and existing vacancy, as well as yield expansion. Again, breaking this down by region, in Australia, our three properties saw a 0.9% decline to AUD 656.2 million, with a CAP rate ranging from 6.25%-7.5%. Singapore commercial property, ATP, showed a stable valuation at SGD 711 million compared to SGD 700 million a year ago. The U.K. portfolio of three properties decreased by 7.6% to GBP 250.1 million, with an equivalent yield range ranging up to 10%. Moving on to our leasing summary. In FY 2025, we have successfully leased over half a million square meters. In the L&I portfolio, we leased approximately 75,000 square meters in the last quarter of the financial year involving nine deals. The reversion rates for this sector were 13.4% on an incoming versus outgoing basis and 34.8% average versus average. In the commercial sector, we leased approximately 15,000+ square meters in the last quarter involving 11 deals. The reversion rates for this sector were a -3.9% on incoming versus outgoing basis. For the full year of FY 2025, we have completed 84 leasing deals, resulting in a reversion of 5% incoming versus outgoing and 29.5% average versus average. Moving on to the occupancy review. Our portfolio occupancy rate stands at 95.1% as at 30 September. Looking at each sector for L&I, our overall occupancy rate made a slight increase to 99.7%, supported by a return to 100% occupancy in our Australian portfolio, and improved occupancy of 91.6% at Tuas property in Singapore. For commercial, in our commercial property in Singapore, ATP, we have secured leases for approximately 58%, which is an increase from 54% in June of the ex-Google space, and the property occupancy stands at 77.9%. Further subsequent to the quarter end, we have also signed two additional leases, bringing the total backfill of the ex-Google space to 82%. Our lease expiry profile. This reflects our proactive approach to lease renewals and backfilling vacancies. Additionally, approximately 83.1% of our portfolio leases are embedded with CPI-linked indexation or fixed escalations. Looking at the top 10 tenants, who account for 26.3% of portfolio GRI, with no single tenant contributing more than 5%. Our tenant base is well diversified across resilient sectors, ensuring income resilience. Eight of our top 10 tenants are from the L&I portfolio, and six of our top 10 tenants occupy multiple buildings across the portfolio with varying lease expiries. Our tenant composition, which remains well diversified. We continue to have a healthy exposure to resilient sectors, with just under 70% of GRI contribution from our L&I tenants, and the highest weighting in the 3PL transport and freight segments. Approximately 89% of GRI is contributed to by government-linked core and resilient industries, such as the attractive new economy sectors. I will now hand the time back to Anthea for the rest of the presentation. Thanks, Jake. As a recap to FY 2025, aligned with our strategy to reconstitute the FLCT portfolio and focus on L&I, we completed our maiden L&I acquisition in Singapore of a modern six-story logistics facility, SGD 140.3 million, located just two minutes from the Tuas Mega Port, the world's largest automated port. This Green Mark Platinum-certified facility spans 56,000 sq m and is currently 91.6% occupied, reinforcing our strategy to grow our logistics industrial portfolio in developed markets. We have also completed the divestment of 357 Collins Street, exiting the Melbourne CBD office market amid the structural challenges stemming from remote work trends. Importantly, the proceeds from the divestment will provide FLCT with greater financial flexibility to pursue high-quality opportunities in the L&I space, which are sectors that have strong long-term growth potential. Our ESG highlights. Green certification achieved for the FLCT portfolio is above 90%. We continue to undergo certification and renewals for Australia, U.K., and the European properties. As at 30 September, our whole portfolio's total solar capacity is 19.7 MW, which has increased from 12 MW in FY 2024. I would like to take a moment to share the broader trends shaping our operating environment and how FLCT is responding strategically. The several key developments are location preference. Companies are prioritizing best-in-class assets in established locations as supply chain optimization and diversification become critical. Structural demand drivers, population growth, and the continued adoption of e-commerce are sustaining strong logistics demand. L&I market dynamics, supply chain, and realignment provides opportunities to attract customers across diverse geographies and industries. Power infrastructure limitations are also impacting site selection and development feasibility, increasing competition for existing facilities. On the macroeconomic environment, we continue to navigate uncertainty from inflation, high interest rate movements, global growth concerns, and Forex volatility. In closing, our strategic priorities position FLCT for sustainable growth and progressing portfolio reconstitution towards quality L&I assets in developed markets. These actions are supported by our strong balance sheet, with SGD 507 million debt headroom collectively positions FLCT to enter the new fiscal year well-positioned for sustainable growth. I now hand the time back to CK to moderate the Q&A session
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