About the Trust

Financial Highlights

Key Financial Figures

  For the second quarter ended 30 June 2015
S$'000 2Q 2015 2Q 2014 Variance (%) 2Q 2015 1Q 2015 Variance (%)
Gross revenue 25,405 25,354 0.2 25,405 25,364 0.2
Net property income ("NPI") 18,437 18,350 0.5  18,437 18,587 (0.8)
Income available for distribution 13,156 13,000 1.2 13,156 12,973 1.4
Distribution per unit (DPU) (in cents) 1.80(1) 2 (3.2) 1.80(1) 1.78 1.1
Annualised DPU (in cents) 7.22 7.46 (3.2) 7.22 7.22 -
Distribution yield (based on the last traded price of S$0.860 per unit as at 15 July 2015.) 8.4% 8.7% (3.4) 8.4% 8.4% -

Selected Balance Sheet Data

As at 30 June 2015 S$'000
Total assets 1,283,069
Borrowings, at amortised costs 479,982
Net assets attributable to Unitholders 773,347
Units in issue and to be issued entitled to distribution ('000) 730,688,829
NAV per Unit (S$) 1.06
Adjusted NAV per Unit (S$) 1.04

Debt Profile

  As at 30 June 2015
Aggregate leverage(2) 37.9%
Borrowings S$486.0 million
Average all-in financing cost(3) 4.2%
Weighted average tenor of borrowings 2.5 years
Interest cover(4) 3.9 times

Notes:

(1) Based on 730,688,829 Units issued and to be issued as at 30 June 2015.

(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 2015 to 30 June 2015.