About the Trust

Financial Highlights

Key Financial Figures

  For the second quarter ended
30 September 2014
S$'000 3Q 2014 3Q 2013 Variance (%)
Gross revenue 25,126 21,598 16.3
Net property income ("NPI") 18,048 19,998 (9.8)
Income available for distribution 12,689 15,552 (18.4)
Distribution per unit (DPU) (in cents) 1.81(1) 2.38 (23.9)
Annualised DPU (in cents) 7.18 9.44 (23.9)
Distribution yield (%) (based on the last traded price of S$1.00 per unit as at 14 October 2014.) 7.18% 9.44% (23.9)

Selected Balance Sheet Data

As at 30 September 2014 S$'000
Total assets 1,233,810
Borrowings, at amortised costs 449,296
Net assets attributable to Unitholders 757,275
Units in issue and to be issued entitled to distribution ('000) 699,653,525
NAV per Unit (S$) 1.08
Adjusted NAV per Unit (S$) 1.06

Debt Profile

  As at 30 September 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) 4.2 times

Notes:

(1) Based on 699,653,525 Units issued and to be issued as at 30 September 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 July 2014 to 30 September 2014.