Financial InformationFinancial Highlights

  • Summary of CLCT Results
      1H 20221,2 1H 20212 Change
      Actual
    S$'000
    Actual
    S$'000
    %
    Gross Revenue3.4 199,295 176,892 12.7
    Net Property Income3 139,532 120,342 15.9
    Amount available for distribution to Unitholders5 72,317 64,071 12.9
    Amount retained6 (3,616) - N.M.
    Distributable amount to Unitholders 68,701 64,071 7.2
    Distribution Per Unit ("DPU") (cents)7
    DPU before amount retained 4.32 4.23 2.1
    DPU after amount retained 4.10 4.23 (3.1)
     
      1H 20221,2 1H 20212 Change
      Actual
    RMB'000
    Actual
    RMB'000
    %
    Gross Revenue3,4 940,250 860,995 9.2
    Net Property Income3 658,291 585,721 12.4

    Footnotes:

    1. The financial results in 1H 2022 exclude contribution from CapitaMall Saihan which was divested on 7 June 2021. However, the results include contributions from Kunshan Bacheng Logistics Park, Wuhan Yangluo Logistics Park, Chengdu Shuangliu Logistics Park and Shanghai Fengxian Logistics Park as the acquisitions of these properties were completed on 10 November 2021.
    2. The financial results include contributions from Ascendas Xinsu Portfolio, Ascendas Innovation Towers and Ascendas Innovation Hub as the acquisitions of these properties were completed on 4 January 2021, 10 February 2021, and 26 February 2021 respectively. While the acquisitions of the Singapore-Hangzhou Science & Technology Park Phase I and Phase II were completed on 18 June 2021, the risk and reward have been transferred from 15 February 2021.
    3. Average exchange rate for SGD/RMB.
      1H 2022 1H 2021 Change %
      4.718 4.867 (3.1)

    4. The financial results include rental relief extended to tenants in view of the COVID-19 situation.
    5. Includes rental support (which was previously deducted from the amount paid to the vendor) for the vacancy loss and rent free provided to existing tenants for Chengdu Shuangliu Logistics Park which will be distributed as capital distribution.
    6. For 1H 2022, CLCT retained S$3.6 million of its amount available for distribution to Unitholders in view of the operating uncertainty associated with recent COVID-19 outbreaks and lockdown in China resulted in mandatory closures of affected assets. This represents 5.0% of the amount available for distribution to Unitholders.
    7. The DPU is computed based on total issued units of 1,671.6 million and 1,511.8 million in 1H 2022 and 1H 2021, respectively.
  • Statement of Total Return for the Group (1H 2022 vs 1H 2021)
      Group
      1H 20221,2
    S$'000
    1H 20212
    S$'000
    Change
    %
    Gross rental income 183,526 163,948 11.9
    Other income3 15,769 12,944 21.8
    Gross revenue4 199,295 176,892 12.7
    Property related tax (13,559) (15,834) (14.4)
    Business Tax (1,097) (1,006) 9.0
    Property management fees and reimbursables5 (13,159) (11,335) 16.1
    Other property operating expenses6 (31,948) (28,375) 12.6
    Total property operating expenses (59,763) (56,550) 5.7
    Net property income 139,532 120,342 15.9
    Manager's management fees (11,438) (10,092) 13.3
    Trustee's fees (368) (327) 12.5
    Audit fees (388) (266) 45.9
    Valuation fees (47) (67) (29.9)
    Other operating expenses (457) (792) (42.3)
    Foreign exchange (loss)/gain - realised7 (800) 2,004 N.M.
    Finance income8 1,244 1,613 (22.9)
    Finance costs9 (27,685) (22,501) 23.0
    Net finance costs (26,441) (20,888) 26.6
    Net income 99,593 89,914 10.8
    Gain on disposal of subsidiaries10 - 13,328 (100.0)
    Change in fair value of financial derivatives 746 1,179 (36.7)
    Foreign exchange loss - unrealised (4) (753) (99.5)
    Total return for the period before taxation 100,335 103,668 (3.2)
    Taxation (30,893) (34,004) (9.1)
    Total return for the period after taxation 69,442 69,664 (0.3)
    Attributable to:
    Unitholders 59,772 61,342 (2.6)
    Perpetual securities holders 1,674 1,674 -
    Non-controlling interests11 7,996 6,648 20.3
    Total return for the period after taxation 69,442 69,664 (0.3)

    N.M. – not meaningful

    Footnotes:

    1. The financial results in 1H 2022 exclude contribution from CapitaMall Saihan which was divested on 7 June 2021. However, the results include contributions from Kunshan Bacheng Logistics Park, Wuhan Yangluo Logistics Park, Chengdu Shuangliu Logistics Park and Shanghai Fengxian Logistics Park as the acquisitions of these properties were completed on 10 November 2021.
    2. The financial results include full half yearly contributions from Ascendas Xinsu Portfolio, Ascendas Innovation Towers and Ascendas Innovation Hub as the acquisitions of these properties were completed on 4 January 2021, 10 February 2021, and 26 February 2021 respectively. While the acquisitions of the Singapore-Hangzhou Science & Technology Park Phase I and Phase II were completed on 18 June 2021, the risk and reward have been transferred from 15 February 2021.
    3. Other income comprises mainly income earned from atrium space, carpark revenue, trolley carts and advertisement panels.
    4. Includes rental relief of approximately 0.3 months in 1H 2022 and 0.2 months in 1H 2021 of corresponding monthly gross rental income of the total portfolio respectively.
    5. Includes reimbursement of costs to property manager.
    6. Includes items in the table below as part of the other property operating expenses.
         Group
         1H 2022
    S$'000
    1H 2021
    S$'000
    Change
    %
    Depreciation and amortisation    (625) (679) (8.0)
    Impairment losses on trade receivables, net    (5) (94) (94.7)


    1. In 1H 2022, realised foreign exchange loss arose mainly from the net settlement of foreign currency forwards. In 1H 2021, the gain arose from repatriation of cashflow from China through dividends and capital reduction.
    2. Finance income relates mainly to interest from bank deposits placed with financial institutions.
    3. Includes the interest expense on the lease liabilities under FRS 116.
    4. This relates to the gain arising from the disposal of 100% interest in the companies which held CapitaMall Saihan and CapitaMall Minzhongleyuan.
    5. 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.
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