About the Trust

Financial Highlights

Key Financial Figures

  For the second quarter ended 30 June 2014
S$'000 2Q 2014 2Q 2013 Variance (%)
Gross revenue 25,354 21,554 17.6
Net property income ("NPI") 18,350 20,229 (9.3)
Income available for distribution 13,000 15,590 (16.6)
Distribution per unit (DPU) (in cents) 1.86(1) 2.40 (22.5)
Annualised DPU (in cents) 7.46 9.63 (22.5)
Distribution yield (%) (based on the last traded price of S1.050 per unit as at 15 July 2014.) 7.10% 9.20% (22.8)

Selected Balance Sheet Data

As at 30 June 2014 S$'000
Total assets 1,234,451
Borrowings, at amortised costs 448,493
Net assets attributable to Unitholders 756,827
Units in issue and to be issued entitled to distribution ('000) 697,051,396
NAV per Unit (S$) 1.09
Adjusted NAV per Unit (S$) 1.07

Debt Profile

  As at 30 June 2014
Aggregate leverage(2) 37.0%
Borrowings S$455.8 million
Average all-in financing cost(3) 4.1%
Weighted average tenor of debt 2.5 years
Interest cover(4) 4.3 times

Notes:

(1) Based on 697,051,396Units issued and to be issued as at 30 June 2014.

(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 April 2014 to 30 June 2014.