Financial InformationFinancial Highlights

  • Summary of CLCT Results
      1 July to 31 December 2024
    (2H 2024) 1    		 1 July to 31 December 2023
    (2H 2023)     		1 January to 31 December 2024
    (FY 2024) 1    		 1 January to 31 December 2023
    (FY 2023)
      Actual
    $'000     		Actual
    $'000     		Actual
    $'000     		Actual
    $'000
    Gross Revenue 2 168,547 180,204 341,529 364,746
    Net Property Income 2,3 108,633 117,508 226,577 246,739
    Distributable amount to Unitholders 4 45,501 50,735 96,803 113,863
    Distribution Per Unit ("DPU") (cents) 5
    For the period 2.64 3.00 5.65 6.74
     
      2H 2024 1 2H 2023 FY 2024 1 FY 2023
      Actual
    RMB'000     		Actual
    RMB'000     		Actual
    RMB'000     		Actual
    RMB'000
    Gross Revenue 2 911,631 964,687 1,837,560 1,912,468
    Net Property Income 2,3 587,735 630,014 1,219,063 1,293,723

    Footnotes:

    1. 2H 2024 and FY 2024 exclude contributions from CapitaMall Qibao which ceased operations in March 2023 and CapitaMall Shuangjing which was divested in January 2024.
    2. Average exchange rate for SGD/RMB.
      2H 2024 2H 2023 Change % FY 2024 FY 2023 Change %
      5.410 5.361 (0.9) 5.380 5.243 (2.6)

    3. Based on the same exchange rate as 2H 2023/FY2023, net property income for 2H 2024 and FY 2024 in SGD terms would have been $109.6 million or 6.7% lower and $232.5 million or 5.8% lower than 2H 2023 and FY 2023 respectively.
    4. 2H 2023 and FY 2023 include rental support (which was previously deducted from the amount paid to the vendor) for the vacancy loss and rent free period provided to existing tenants of Chengdu Shuangliu Logistics Park and Wuhan Yangluo Logistics Park which has been fully distributed as capital distribution in 2023.
    5. The DPU is computed based on total issued units of 1,720.4 million and 1,688.9 million as at 31 December 2024 and 31 December 2023 respectively.
  • Statement of total return for the Group (2H 2024 vs 2H 2023 and FY 2024 vs FY 2023)
      Group
      2H 2024 1
    $'000     		2H 2023
    $'000     		Change
    %     		FY 2024 1
    $'000     		FY 2023
    $'000     		Change
    %
    Gross rental income 151,439 161,441 (6.2) 309,935 330,905 (6.3)
    Other income 2 17,108 18,763 (8.8) 31,594 33,841 (6.6)
    Gross revenue 168,547 180,204 (6.5) 341,529 364,746 (6.4)
    Property related tax (15,067) (16,384) (8.0) (30,272) (30,022) 0.8
    Business tax (1,001) (970) 3.2 (1,976) (1,922) 2.8
    Property management fees and reimbursables (10,549) (11,287) (6.5) (21,424) (23,399) (8.4)
    Other property operating expenses 3 (33,297) (34,055) (2.2) (61,280) (62,664) (2.2)
    Total property operating expenses (59,914) (62,696) (4.4) (114,952) (118,007) (2.6)
    Net property income 108,633 117,508 (7.6) 226,577 246,739 (8.2)
    Manager's management fees (9,372) (10,160) (7.8) (19,164) (20,819) (7.9)
    Trustee's fees (321) (338) (5.0) (645) (683) (5.6)
    Audit fees (306) (430) (28.8) (635) (811) (21.7)
    Valuation fees (68) (66) 3.0 (98) (123) (20.3)
    Other trust operating income/(expenses) 5 440 (512) N.M. 116 (254) N.M.
    Foreign exchange (loss)/gain - realised 6 (684) 3,502 N.M. 1,003 7,001 (85.7)
    Finance income 7 2,128 2,604 (18.3) 3,430 3,723 (7.9)
    Finance costs 8 (32,533) (35,908) (9.4) (65,369) (70,394) (7.1)
    Net finance costs (30,405) (33,304) (8.7) (61,939) (66,671) (7.1)
    Net Income 67,917 76,200 (10.9) 145,215 164,379 (11.7)
    (Loss)/gain on disposal of subsidiary 9 (26) - 100.0 7,309 - 100.0
    Gain on derecognition of lease liabilities 10 - 1,574 (100.0) - 1,574 (100.0)
    Change in fair value of investment properties (66,801) (29,073) N.M. (89,733) (39,769) N.M.
    Change in fair value of financial derivatives 9 180 (95.0) (403) (1,067) (62.2)
    Foreign exchange (loss)/gain - unrealised (217) 26 N.M. (204) (141) 44.7
    Total return for the period/year before taxation 882 48,907 (98.2) 62,184 124,976 (50.2)
    Taxation 11 (25,584) (36,149) (29.2) (66,121) (70,005) (5.5)
    Total return for the period/year after taxation (24,702) 12,758 N.M. (3,937) 54,971 N.M.
    Attributable to:
    Unitholders (29,512) 4,262 N.M. (18,066) 37,451 N.M.
    Perpetual securities holders 1,701 1,701 - 3,384 3,375 0.3
    Non-controlling interests 12 3,109 6,795 (54.2) 10,745 14,145 (24.0)
    Total return for the period/year after taxation (24,702) 12,758 N.M. (3,937) 54,971 N.M.

    N.M. – not meaningful

    Footnotes:

    1. 2H 2024 and FY 2024 exclude contributions from CapitaMall Qibao which ceased operations in March 2023 and CapitaMall Shuangjing which was divested in January 2024.
    2. Other income comprises mainly income earned from atrium space, carpark revenue, trolley carts and advertisement panels.
    3. Includes items in the table below as part of the other property operating expenses.
      Group
      2H 2024
    $'000     		2H 2023
    $'000     		Change
    %     		FY 2024
    $'000     		FY 2023
    $'000     		Change
    %
    Depreciation and amortisation (327) (472) (30.7) (706) (1,011) (30.2)
    Impairment losses on trade receivables, net 4 (27) (64) (57.8) (37) (93) (60.2)
    Plant and equipment written off (24) (96) (75.0) (51) (104) (51.0)

    N.M. – not meaningful

    1. Impairment losses mainly relate to tenants with higher and potential credit risk.
    2. 2H 2024 and FY 2024 include reversal of over provision in other operating expenses.
    3. In FY 2024, realised foreign exchange gain arose mainly from the USD denominated sales proceeds received post divestment of CapitaMall Shuangjing and net settlement of foreign currency forwards. In FY 2023, the gain arose mainly from the repayment of the USD denominated shareholder’s loans principal.
    4. Finance income relates mainly to interest from bank deposits placed with financial institutions.
    5. Includes the interest expense on the lease liabilities under FRS 116.
    6. This relates to the gain arising from the divestment of CapitaMall Shuangjing in FY 2024.
    7. This relates to CapitaMall Qibao as the mall ceased operations since March 2023.
    8. FY2024 includes withholding tax payment of $12.1 million relating to the divestment of CapitaMall Shuangjing and reversal of overprovision of taxation from prior years of $1.2 million. FY 2023 includes under provision of taxation from prior years of $1.3 million.
    9. This relates to 49% non-controlling interest (NCI) in Ascendas Xinsu Portfolio and 20% NCI in Ascendas Innovation Hub, Singapore-Hangzhou Science & Technology Park Phase I and Phase II.
BACK TO TOP