Email ThisPrint This Financial Performance

Statement of Total Return & Distribution Statement (3Q 2018 vs 3Q 2017)

Group Trust
3Q
2018
S$'000
3Q
2017
S$'000
Change
%
3Q
2018
S$'000
3Q
2017
S$'000
Change
%
Gross rental income 95,459 68,848 38.7 68,116 47,164 44.4
Car park income 1,546 1,852 (16.5) 1,187 1,467 (19.1)
Other income 3,505 3,445 1.7 2,594 2,570 0.9
Gross revenue 100,510 74,145 35.6 71,897 51,201 40.4
Property management fees (2,496) (1,666) 49.8 (1,609) (1,117) 44.0
Property tax (7,339) (4,879) 50.4 (5,315) (3,026) 75.6
Other property operating expenses (10,278) (9,045) 13.6 (8,259) (6,236) 32.4
Property operating expenses (20,113) (15,590) 29.0 (15,183) (10,379) 46.3
Net property income 80,397 58,555 37.3 56,714 40,822 38.9
Interest income 1,192 1,043 14.3 14,682 4,514 NM
Investment income 1,646 1,575 4.5 45,784 35,916 27.5
Amortisation of intangible asset - (252) NM - (252) NM
Asset management fees:            
- Base fees (2,046) (1,627) 25.8 (1,629) (1,211) 34.5
- Performance fees (3,073) (2,312) 32.9 (2,866) (1,961) 46.1
Trust and other operating expenses (1,712) 414 NM (10,339) 490 NM
Finance costs (25,563) (14,726) 73.6 (17,485) (7,220) NM
Net income before share of profit of joint ventures 50,841 42,670 19.1 84,861 71,098 19.4
Share of profit (net of tax) of joint ventures 21,156 23,488 (9.9) - - -
Net income 71,997 66,158 8.8 84,861 71,098 19.4
Net gain on disposal of investment property - 72,572 NM - 72,572 NM
Net increase in fair value of investment properties - 20,100 NM - 20,100 NM
Total return for the period before tax 71,997 158,830 (54.7) 84,861 163,770 (48.2)
Tax expense (1,500) (198) NM (201) (198) 1.5
Total return for the period after tax 70,497 158,632 (55.6) 84,660 163,572 (48.2)
             
Attributable to            
Unitholders 70,267 158,632 (55.7) 84,660 163,572 (48.2)
Non-controlling interest 230 - NM - - -
Total return for the period 70,497 158,632 (55.6) 84,660 163,572 (48.2)
             
Distribution Statement            
Total return attributable to unitholders 70,267 158,632 (55.7) 84,660 163,572 (48.2)
Net tax and other adjustments (14,822) (115,413) (87.2) (5,825) (93,763) (93.8)
Tax-exempt income distribution 3,850 - NM 3,850 - NM
Distribution from joint ventures 23,390 26,590 (12.0) - - -
Other gains distribution - 3,300 NM - 3,300 NM
Distributable income to unitholders 82,685 73,109 13.1 82,685 73,109 13.1

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

Group Trust
30 Sep 2018
S$'000
31 Dec 2017
S$'000
Change
%
30 Sep 2018
S$'000
31 Dec 2017
S$'000
Change
%
Non-current assets            
Plant and equipment 922 1,002 (8.0) 918 980 (6.3)
Investment properties 7,607,661 7,408,000 2.7 3,609,573 3,698,000 (2.4)
Interest in subsidiaries - - - 3,706,817 2,827,171 31.1
Available-for-sale investment 43,204 47,533 (9.1) 43,204 47,533 (9.1)
Interest in joint ventures 1,765,235 1,732,140 1.9 1,428,190 1,420,289 0.6
Financial derivatives 11,070 - NM 10,209 - NM
Total non-current assets 9,428,092 9,188,675 2.6 8,798,911 7,993,973 10.1
Current assets            
Assets held for sale 40,746 - NM 40,746 - NM
Trade and other receivables 42,093 42,746 (1.5) 273,215 49,011 NM
Cash and cash equivalents 86,543 122,581 (29.4) 63,581 72,346 (12.1)
Total current assets 169,382 165,327 2.5 377,542 121,357 NM
           
Total assets 9,597,474 9,354,002 2.6 9,176,453 8,115,330 13.1
             
Current liabilities            
Trade and other payables 65,845 90,293 (27.1) 52,720 226,571 (76.7)
Current portion of security deposits 12,494 4,002 NM 9,622 2,545 NM
Interest-bearing liabilities 211,971 - NM 211,971 - NM
Financial derivatives - 81 NM - 81 NM
Current tax payable 4,184 3,187 31.3 170 379 (55.1)
Total current liabilities 294,494 97,563 NM 274,483 229,576 19.6
             
Non-current liabilities            
Non-current portion of security deposits 53,696 66,404 (19.1) 32,928 21,694 51.8
Interest-bearing liabilities 2,406,868 2,720,208 (11.5) 2,227,262 1,832,818 21.5
Financial derivatives 30,510 52,904 (42.3) 29,855 37,476 (20.3)
Other payables 439 - - 135,145 - NM
Deferred tax liabilities 2,910 - NM - - -
Total non-current liabilities 2,494,423 2,839,516 (12.2) 2,425,190 1,891,988 28.2
             
Total liabilities 2,788,917 2,937,079 (5.0) 2,699,673 2,121,564 27.2
             
Net assets 6,808,557 6,416,923 6.1 6,476,780 5,993,766 8.1
           
Represented by:            
Unitholders’ funds 6,792,105 6,416,923 5.8 6,476,780 5,993,766 8.1
Non-controlling interests 16,452 - NM - - -
Total equity 6,808,557 6,416,923 6.1 6,476,780 5,993,766 8.1

NM - Not Meaningful

Valid HTML Valid CSS