About the Trust

Financial Highlights

Key Financial Figures

  For the year ended 31 December 2013
S$'000 FY 2013 FY 2012 Variance (%)
Gross revenue 89,485 81,768 9.4
Net property income ("NPI") 80,360 76,937 4.4
Income available for distribution 61,755 59,395 4.0
Distribution per unit (DPU) (in cents) 9.38(1) 9.28 1.1
Distribution yield (%) (based on the last traded price of S1.075 per unit as at 21 January 2014.) 8.73% 8.63% 1.2

Selected Balance Sheet Data

As at 31 December 2013 S$’000
Total assets 1,236,753
Borrowings, at amortised costs 447,392
Net assets attributable to Unitholders 756,504
Units in issue and to be issued entitled to distribution 691,959,462
NAV per Unit (S$) 1.09
Adjusted NAV per Unit (S$) 1.07

Debt Profile

  As at 31 December 2013
Aggregate leverage(2) 36.9%
Borrowings S$455.8 million
Average all-in financing cost(3) 4.1%
Weighted average tenor of debt 2.3 years
Interest cover(4) 4.8 times

Notes:

(1) Based 691,959,462 Units issued and to be issued as at 31 December 2013.

(2) Ratio of total borrowings and deferred payment over deposited property as defined in the Property Funds Appendix of the Code on Collective Investment Schemes.

(3) Inclusive of amortisation of transaction costs.

(4) Ratio of Net Property Income over profit expense (excluding amortisation of transaction costs and other fees) for the period from 1 October 2013 to 31 December 2013.