About the Trust

Financial Highlights

Key Financial Figures

             
S$'000 FY 2014 FY 2013 Variance (%) 4Q 2014 3Q 2014 Variance (%)
Gross revenue 100,342 89,485 12.1 25,292 25,126 0.7
Net property income ("NPI") 72,946 80,360 (9.2) 18,163 18,048 0.6
Income available for distribution 51,624 61,755 (16.4) 12,891 12,689 1.6
Distribution per unit (DPU) (in cents) 7.33(1) 9.38 (21.9) 1.78(1) 1.81 -1.7
Annualised DPU (in cents) 7.33 9.38 (21.9) 7.06 7.18 -1.7
Distribution yield (%) (based on the last traded price of S$0.925 per unit as at 20 January 2015.) 7.9% 10.1% (21.8) 7.6% 7.8% (2.6)

Selected Balance Sheet Data

As at 31 December 2014 S$'000
Total assets 1,281,660
Borrowings, at amortised costs 478,848
Net assets attributable to Unitholders 772,585
Units in issue and to be issued entitled to distribution ('000) 725,982,571
NAV per Unit (S$) 1.06
Adjusted NAV per Unit (S$) 1.04

Debt Profile

  As at 31 December 2014
Aggregate leverage(2) 38.0%
Borrowings S$486.0 million
Average all-in financing cost(3) 4.1%
Weighted average tenor of debt 3.0 years
Interest cover(4) 4.1 times

Notes:

(1) Based on 725,982,571 Units issued and to be issued as at 31 December 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 October 2014 to 31 December 2014.