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FINANCIALS
99
Group
Description
of property
Tenure
Term of
lease
Remaining
term of
lease
Location
Existing
use
Occupancy
rate
At
valuation
Percentage of
total net assets
2017
%
2017
$’000
2016
$’000
2017
%
2016
%
Wisma Atria
Property
Leasehold Leasehold estate
of 99 years
expiring on
31 March 2061
44 years 435
Orchard Road,
Singapore 238877
Retail/
Office
97.7/92.1 997,000
(5)
996,000
49.6
49.4
Ngee Ann City
Property
Leasehold Leasehold estate
of 69 years
expiring on
31 March 2072
55 years 391/391B
Orchard Road,
Singapore 238874
Retail/
Office
100.0/93.5 1,150,000
(5)
1,145,000
57.2
56.7
Myer Centre
Adelaide
(1)
Freehold –
–
14-38
Rundle Mall,
Adelaide, Australia
Retail/
Office
94.6/50.4 317,085
(6)
299,978
15.8
14.9
David Jones
Building
(1)
Freehold –
–
622-648
Hay Street Mall,
Perth, Australia
Retail
99.3 169,112
(7)
153,398
8.4
7.6
Plaza
Arcade
(1)
Freehold –
–
650 Hay Street Mall
and 185-191
Murray Street Mall,
Perth, Australia
Retail
94.1
53,904
(7)
52,135
2.7
2.6
Starhill
Gallery
(2)
Freehold –
–
181 Jalan Bukit
Bintang, 55100
Kuala Lumpur,
Malaysia
Retail/
Office
100.0 221,214
(8)
234,395
11.0
11.6
Lot 10
Property
(2)
Leasehold Leasehold estate
of 99 years
expiring on
29 July 2076
59 years 50 Jalan Sultan
Ismail, 50250
Kuala Lumpur,
Malaysia
Retail/
Office
100.0 136,255
(8)
143,986
6.8
7.1
Renhe Spring
Zongbei
Property
(3)
Leasehold Leasehold estate
of 40 years
expiring on
27 December 2035
18 years No 19, 4
th
Section,
Renminnan Road,
Chengdu,
China
Retail
100.0
32,077
(9)
44,677
1.6
2.2
Ebisu Fort
(4)
Freehold –
–
1-24-2 Ebisu-Minami,
Shibuya-ku,
Tokyo, Japan
Retail/
Office
100.0
39,574
(10)
41,502
2.0
2.1
Daikanyama
(4)
Freehold –
–
1-31-12 Ebisu-Nishi,
Shibuya-ku,
Tokyo, Japan
Retail/
Office
100.0
14,994
(10)
15,761
0.7
0.8
Nakameguro
Place
(4)
Freehold –
–
1-20-2 Aobadai,
Meguro-ku,
Tokyo, Japan
Retail
100.0
5,100
(10)
5,385
0.3
0.3
Harajuku
Secondo
(4)
Freehold –
–
1-19-1 Jingumae,
Shibuya-ku,
Tokyo, Japan
NA
NA
–
4,387
–
0.2
Investment properties at valuation
3,136,315
3,136,604
156.1
155.5
Other assets and liabilities (net)
(1,126,969)
(1,119,053)
(56.1)
(55.5)
Net assets
2,009,346
2,017,551
100.0
100.0
Notes:
(1)
David Jones Building, Plaza Arcade and Myer Centre Adelaide (the “Australia Properties”) were acquired on 20 January 2010, 1 March 2013 and 18 May 2015 respectively.
(2)
Starhill Gallery and Lot 10 Property (the “Malaysia Properties”) were acquired on 28 June 2010.
(3)
Renhe Spring Zongbei Property (the “China Property”) was acquired on 28 August 2007.
(4)
The Japan Properties comprise three properties (2016: four) as at 30 June 2017. Harajuku Secondo was divested on 15 May 2017. Daikanyama and Nakameguro Place were
acquired on 30 May 2007, whilst Ebisu Fort was acquired on 26 September 2007.
(5)
Based on the valuation performed by CBRE Pte. Ltd. as at 30 June 2017.
(6)
Based on the valuation performed by Jones Lang LaSalle Advisory Services Pty Ltd as at 30 June 2017 and translated at the exchange rate of A$0.95:$1.00 (2016: A$1.00:$1.00).
(7)
Based on the valuation performed by CBRE Valuations Pty Limited as at 30 June 2017 and translated at the exchange rate of A$0.95:$1.00 (2016: A$1.00:$1.00).
(8)
Based on the valuation performed by IVPS Property Consultant Sdn Bhd as at 30 June 2017 and translated at the exchange rate of RM3.12:$1.00 (2016: RM2.99:$1.00).
(9)
Based on the valuation performed by Knight Frank Petty Limited as at 30 June 2017 and translated at the exchange rate of RMB4.93:$1.00 (2016: RMB4.92:$1.00).
(10)
Based on the valuation performed by Jones Lang LaSalle K.K. as at 30 June 2017 and translated at the exchange rate of JPY81.37:$1.00 (2016: JPY76.14:$1.00).
The Manager believes that the above independent valuers have appropriate professional qualifications and experience in the location and category of the
Group’s investment properties being valued. Full valuations of the above properties were performed as at year end.
The accompanying notes form an integral part of these financial statements.
investment properties
portfoliostatement
As at 30 June 2017