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Management

Reports

5

2013

1

2012

1

2011

1

2010

1

2009

1

Balance Sheet

(as at 31 December)

Total Assets (S$’000)

2,184,291 1,648,791 1,536,268 1,274,478 1,200,980

Total Deposited Properties

2

(S$’000)

2,155,554 1,623,824 1,482,001 1,229,196 1,159,778

Net Assets Attributable to Unitholders (S$’000) 1,186,951

978,742

913,839

734,507

679,868

Total Borrowings (S$’000)

713,458

465,847

433,048

401,958

406,399

Market Capitalisation (S$ million)

1,068

1,232

792

775

797

Net Asset Value Per Unit (S$)

1.48

1.31

1.33

1.17

1.09

Portfolio Property Valuation (S$’000)

2,058,094

3

1,476,988 1,440,620 1,215,089 1,156,614

Financial Ratios

(as at 31 December)

Earnings Per Unit (¢)

17.52

19.52

4

18.22

17.84

6.88

Distribution Per Unit (¢)

9.02

9.54

8.70

8.36

8.14

Net Tangible Assets Per Unit (S$)

1.48

1.31

1.33

1.17

1.09

Gearing Ratio

5

(%)

32.6

28.0

31.1

33.6

Interest Cover (times)

8.5

7.3

6.2

8.0

Management Expense Ratio

6

(%)

0.9

1.0

0.9

1.0

1.1

2013

1

Financial Derivatives

(as at 31 December)

Net Fair Value of Financial Derivatives

7

(S$ million)

(3.2)

Proportion of Financial Derivatives to Net Assets Attributable to Unitholders (%)

(0.3)

1

The financial year from 1 January to 31 December.

2

All the assets of CRCT (or proportional share if CRCT owns less than 100% of a Barbados Company as defined in the CRCT Prospectus dated

29 November 2006 (CRCT Prospectus) and/or a Project Company (as defined in the CRCT Prospectus)) including the properties and all the authorised

investment of CRCT for the time being held or deemed to be held upon the trusts under the trust deed dated 23 October 2006 as amended by the First

Supplemental Deed dated 8 November 2006, Second Supplemental Deed dated 15 April 2010, Third Supplemental Deed dated 5 April 2012 and Fourth

Supplemental Deed dated 14 February 2014 (collectively, the Trust Deed), and excluding income to be distributed after the year end.

3 Based on valuation as at 31 December 2013. The valuation of CapitaMall Anzhen, CapitaMall Shuangjing, CapitaMall Qibao, CapitaMall Saihan and

CapitaMall Wuhu were conducted by CBRE Pte. Ltd. (CBRE), while the valuation for CapitaMall Xizhimen, CapitaMall Wangjing, CapitaMall Erqi and

CapitaMall Minzhongleyuan were conducted by Colliers International (Hong Kong) Limited (Colliers) as at 31 December 2013. CapitaMall Grand Canyon

valuation as at 31 December 2013 was based on management valuation as the acquisition of the mall was completed on 30 December 2013. Portfolio

property valuation include the valuation of the 10 retail malls and the carrying amount of CapitaMall Minzhongleyuan’s three residential units.

4 The figure has been restated for the effect of preferential offering completed on 20 November 2013.

5 The gearing is calculated based on total outstanding debts over the total assets. Total assets included the hedging effects on the net assets denominated

in Renminbi (RMB).

6 Refers to the expenses of CRCT excluding property expenses and interest expenses but including performance component of CRCTML’s management

fees, expressed as a percentage of weighted average net assets.

7

Financial derivatives include non-deliverable forwards and interest rate swaps which CRCT has entered into as a form of hedging against the underlying

foreign currency and interest rate risks. The net fair value derivative represented a negative 0.3% over the net assets of CRCT as at 31 December 2013.