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Latest Financials
Statement of Total Return and Comprehensive Income
for the financial year ended 31 December |
|
2009
S$'000 |
2008
S$'000 |
Change
% |
| Property income |
62,811 |
52,646 |
+19.3 |
| Net property income |
48,880 |
39,659 |
+23.3 |
| Investment and interest income1 |
44,064 |
44,555 |
-1.1 |
| Distributable income2 |
70,519 |
58,182 |
+21.2 |
| Distribution per unit (DPU)(cents)3 |
5.28 |
8.91 |
-40.7 |
| Distribution yield (%)4 |
4.8 |
12.7 |
-62.2 |
Balance Sheet
as at 31 December |
|
2009
S$'000 |
2008
S$'000 |
Change
% |
| Total assets |
2,631,639 |
2,092,322 |
+25.8 |
| Total liabilities |
628,987 |
606,651 |
+3.7 |
| Unitholders’ funds |
2,002,652 |
1,485,671 |
+34.8 |
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| Total borrowings (gross) |
581,085 |
581,085 |
- |
| Value of deposited properties |
2,097,700 |
2,102,000 |
-0.2 |
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| Market capitalisation4 |
1,469,625 |
456,907 |
+221.6 |
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| Net asset value per unit3 ($) |
1.50 |
2.28 |
-34.2 |
Adjusted net asset value per unit3($)
– excluding distributable income |
1.47 |
2.23 |
-34.1 |
Financial Ratios
as at 31 December |
|
2009
S$'000 |
2008
S$'000 |
Change
% |
| DPU (cents) |
5.28 |
8.91 |
-40.7 |
| Aggregate leverage (%) |
27.7 |
27.6 |
+0.4 |
| EBITDA interest coverage ratio (times)5 |
3.19 |
2.97 |
+7.4 |
| All-in interest rate (%) |
4.23 |
3.19 |
+32.6 |
| Management expense ratio (%)6 |
0.90 |
1.11 |
-18.9 |
(1) Investment and interest income comprise mainly income support, interest income and share of results
of associated company.
(2) The distributable income to Unitholders is based on 100% of the income available for distribution
to Unitholders.
(3) FY2009 DPU and NAV per unit declined as a result of the enlarged unit base pursuant to the rights issue
completed on 20 November 2009.
(4) Based on closing unit price as at the last trading day for the financial year
(5) EBITDA interest coverage: Ratio of profit before interest expense, tax, depreciation and amortisation
to interest expense.
(6) The ratio is computed in accordance with the guidelines of Investment Management Association
of Singapore. The expenses used in the computation relate to trust expenses, excluding property
expenses, amortisation expense and borrowing costs, but including performance component of
Manager’s management fees.
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