Email ThisPrint This Financial Performance

Statement of Total Return & Distribution Statement (2Q 2018 vs 2Q 2017)

Group Trust
2Q
2018
S$'000
2Q
2017
S$'000
Change
%
2Q
2018
S$'000
2Q
2017
S$'000
Change
%
Gross rental income 92,904 80,738 15.1 70,395 59,521 18.3
Car park income 1,561 2,660 (41.3) 1,199 2,296 (47.8)
Other income 3,550 4,097 (13.4) 2,715 3,442 (21.1)
Gross revenue 98,015 87,495 12.0 74,309 65,259 13.9
Property management fees (2,238) (1,993) 12.3 (1,669) (1,448) 15.3
Property tax (7,946) (6,022) 31.9 (5,876) (4,324) 35.9
Other property operating expenses (10,094) (10,377) (2.7) (8,132) (8,000) 1.7
Property operating expenses (20,278) (18,392) 10.3 (15,677) (13,772) 13.8
Net property income 77,737 69,103 12.5 58,632 51,487 13.9
Interest income 1,126 247 NM 12,056 3,664 NM
Investment income - - NM 32,319 44,777 (27.8)
Amortisation of intangible asset - (1,021) NM - (1,021) NM
Asset management fees:            
- Base fees (2,165) (1,649) 31.3 (1,752) (1,239) 41.4
- Performance fees (2,706) (2,427) 11.5 (2,376) (2,075) 14.5
Trust and other operating expenses (914) (1,173) (22.1) (9,495) (1,146) NM
Finance costs (22,286) (17,663) 26.2 (15,935) (10,234) 55.7
Net income before share of profit of joint ventures 50,792 45,417 11.8 73,449 84,213 (12.8)
Share of profit (net of tax) of joint ventures 47,914 25,885 85.1 - - -
Net income 98,706 71,302 38.4 73,449 84,213 (12.8)
Net increase in fair value of investment properties 178,884 252,674 (29.2) 321,285 237,829 35.1
Transaction costs on disposal of investment property - (3,226) NM - (3,226) NM
Total return for the period before tax 277,590 320,750 (13.5) 394,734 318,816 23.8
Tax expense (2,226) (175) NM (50) (174) (71.3)
Total return for the period after tax 275,364 320,575 (14.1) 394,684 318,642 23.9
             
Attributable to            
Unitholders 274,996 320,575 (14.2) 394,684 318,642 23.9
Non-controlling interest 368 - NM - - -
Total return for the period 275,364 320,575 (14.1) 394,684 318,642 23.9
             
Distribution Statement            
Total return attributable to unitholders 274,996 320,575 (14.2) 394,684 318,642 23.9
Net tax and other adjustments (220,072) (274,292) (19.8) (316,051) (249,175) 26.8
Tax-exempt income distribution 750 - NM 750 - NM
Distribution from joint ventures 23,709 23,184 2.3 - - -
Distributable income to unitholders 79,383 69,467 14.3 79,383 69,467 14.3

Statement of Financial Position as at 30 June 2018 vs 31 December 2017

Group Trust
30 Jun 2018
S$'000
31 Dec 2017
S$'000
Change
%
30 Jun 2018
S$'000
31 Dec 2017
S$'000
Change
%
Non-current assets            
Plant and equipment 961 1,002 (4.1) 954 980 (2.7)
Investment properties 7,594,737 7,408,000 2.5 3,609,000 3,698,000 (2.4)
Interest in subsidiaries - - - 3,195,629 2,827,171 13.0
Available-for-sale investment 44,409 47,533 (6.6) 44,409 47,533 (6.6)
Interest in joint ventures 1,766,447 1,732,140 2.0 1,426,951 1,420,289 0.5
Financial derivatives 16,088 - NM 14,368 - NM
Total non-current assets 9,422,642 9,188,675 2.5 8,291,311 7,993,973 3.7
Current assets            
Assets held for sale 556,746 - NM 556,746 - NM
Trade and other receivables 40,523 42,746 (5.2) 262,922 49,011 NM
Cash and cash equivalents 166,119 122,581 35.5 143,482 72,346 98.3
Financial derivatives 211 - NM 211 - NM
Total current assets 763,599 165,327 NM 963,361 121,357 NM
           
Total assets 10,186,241 9,354,002 8.9 9,254,672 8,115,330 14.0
             
Current liabilities            
Trade and other payables 77,829 90,293 (13.8) 66,008 226,571 (70.9)
Current portion of security deposits 15,330 4,002 NM 13,759 2,545 NM
Interest-bearing liabilities 226,601 - NM 226,601 - NM
Financial derivatives - 81 NM - 81 NM
Current tax payable 3,332 3,187 4.5 121 379 (68.1)
Total current liabilities 323,092 97,563 NM 306,489 229,576 33.5
             
Non-current liabilities            
Non-current portion of security deposits 55,657 66,404 (16.2) 33,621 21,694 55.0
Interest-bearing liabilities 2,875,700 2,720,208 5.7 2,197,860 1,832,818 19.9
Financial derivatives 31,122 52,904 (41.2) 27,358 37,476 (27.0)
Other payables 430 - - 135,145 - NM
Deferred tax liabilities 2,413 - NM - - -
Total non-current liabilities 2,965,322 2,839,516 4.4 2,393,984 1,891,988 26.5
             
Total liabilities 3,288,414 2,937,079 12.0 2,700,473 2,121,564 27.3
             
Net assets 6,897,827 6,416,923 7.5 6,554,199 5,993,766 9.4
           
Represented by:            
Unitholders’ funds 6,881,831 6,416,923 7.2 6,554,199 5,993,766 9.4
Non-controlling interests 15,996 - NM - - -
Total equity 6,897,827 6,416,923 7.5 6,554,199 5,993,766 9.4

NM - Not Meaningful

Valid HTML Valid CSS