Financial
Highlights
Financial
Summary
Notes:
(1)
Starhill Global REIT has changed its financial year end from 31 December to 30 June to correspond with the financial year end of
its sponsor, YTL Corporation Berhad. The current financial year refers to the 18-month period from 1 January 2014 to 30 June 2015
(“FY 2014/15”). FY 2013 refers to the 12-month period from 1 January 2013 to 31 December 2013. As a result, the current amounts
presented in relation to FY 2014/15 are not entirely comparable with the comparative amounts for FY 2013.
(2)
Approximately S$6.3 million of income available for distribution for FY 2014/15 has been retained for working capital requirements.
(3)
Convertible preferred units (CPU) distribution was based on S$ coupon of up to RM0.1322 per CPU, equivalent to a distribution rate of
5.65% per annum. The decrease was mainly due to the conversion of 152,727,825 CPU into 210,195,189 ordinary units in July 2013 and
conversion of 20,334,750 CPU into 27,986,168 ordinary units in June 2015.
(4)
Included two additional quarters of DPU during the current period of 18 months ended 30 June 2015.
(5)
The computation of DPU for FY 2014/15 was based on the number of units entitled to distributions comprising 2,153,218,267 units in
issue for 1Q to 5Q FY 2014/15 and number of units post-CPU conversion on 25 June 2015 of 2,181,204,435 units for 6Q FY 2014/15.
The computation of DPU for FY 2013 was based on number of units entitled to distributions comprising 1,943,023,078 units in issue for
1Q 2013 and number of units post-CPU conversion on 5 July 2013 of 2,153,218,267 units for 2Q to 4Q FY 2013.
(6)
Included one-time DPU payout of 0.19 cents due to receipt of accumulated rental arrears from the Toshin master lease (net of expenses)
in 1Q 2013.
(7)
For FY 2014/15, based on actual rolling 12-month DPU of 5.11 cents for the period from July 2014 to June 2015. For FY 2013, based on
actual DPU of 5.00 cents for the 12 months ended December 2013.
(8)
Based on the last traded price for the financial period.
(9)
Based on the period of 18 months ended 30 June 2015.
Statement of Total Return
and Distribution for period:
18 Months from
Jan 2014 to Jun 2015
(“FY 2014/15”)
(1)
12 Months from
Jan 2013 to Dec 2013
(“FY 2013”)
(1)
Change
(%)
Gross Revenue (million)
S$294.8
S$200.6
46.9%
Net Property Income (million)
S$237.6
S$157.9
50.5%
Income Available for Distribution (million)
S$171.6
(2)
S$110.9
54.8%
Income to be Distributed to:
– Unitholders (million)
S$164.0
S$104.8
56.5%
– CPU holder(s) (million)
S$1.3
(3)
S$3.1
(3)
(57.9%)
Distribution Per Unit (DPU)
7.60 cents
(4) (5)
5.00 cents
(5) (6)
52.0%
Distribution Yield
5.81%
(7)
(S$0.880)
(8)
6.37%
(7)
(S$0.785)
(8)
NM
Total Return
22.9%
(9)
5.9%
NM
Note:
(1)
Number of properties included Myer Centre Adelaide acquired on 18 May 2015 and excluded Holon L divested on 19 March 2014.
Balance Sheet as at:
30 Jun 2015
31 Dec 2013
Change
(%)
Net Asset Value Per Unit
S$0.91
S$0.93
(2.2%)
Total Assets (million)
S$3,193.4
S$2,943.2
8.5%
Investment Properties
– Number of Properties
13
(1)
13
– Valuation (million)
S$3,116.2
S$2,854.4
9.2%
Gearing
35.5%
29.0%
NM
Gross
Revenue
S$
294.8
m
Net Property
Income
S$
237.6
m
Net Asset
Value
S$
1,982.8
m
Income Available
for Distribution
S$
171.6
m
Strong
Occupancy
98.2
%
Healthy
Gearing
35.5
%
Starhill Global REIT Unit Price
& Daily Volume
(1 July 2010 – 30 June 2015)
Jun
10
Sep
10
Dec
10
Mar
11
Jun
11
Sep
11
Dec
11
Mar
12
Jun
12
Sep
12
Dec
12
Mar
13
Jun
13
Sep
13
Dec
13
Mar
14
Jun
14
Sep
14
Dec
14
Mar
15
Jun
15
1.20
1.00
0.80
0.60
0.40
0.20
0.00
16,000
14,000
12,000
10,000
8,000
6,000
4,000
2,000
0
Volume
Unit Price
From 1 January 2014 to 30 June 2015
Opening price (1 Jan 2014)
S$0.785
Closing Price (30 Jun 2015)
S$0.880
High (23 Apr 2015)
S$0.885
Low (6 Jan 2014)
S$0.755
Volume traded (in million units)
2,598.88
Unit Price
(S$)
Volume
(’000)
3
2
STARHILL
GLOBAL
REIT
Annual
Report
FY 2014/15
