Group
Trust
2014
2013
2014
2013
$’000
$’000
$’000
$’000
Operations
Unitholders’ funds as at beginning of the year 1,186,951 978,742 542,413 504,541
Change in Unitholders’ funds resulting from
operations
144,598 132,918
10,140
14,037
Transfer to general reserve
(4,244)
(3,164)
–
–
Net increase in net assets resulting from
operations
140,354 129,754
10,140
14,037
Movements in hedging reserve
Effective portion of changes in fair value of
cash flow hedges
2,251
157
2,251
157
Movements in foreign currency translation
reserve
Translation differences from financial
statements of foreign operations
46,749
52,209
–
–
Exchange differences on monetary items
forming part of net investment in
foreign operations
16,290
20,819
–
–
Exchange differences on hedges of net
investment in foreign operations
(6,977)
(21,572)
–
–
Net gain recognised directly in
Unitholders’ funds
58,313
51,613
2,251
157
Movement in general reserve
4,244
3,164
–
–
Unitholders’ transactions
New Units issued
–
59,038
–
59,038
Creation of Units paid/payable to Manager
– Units issued and to be issued as
satisfaction of the portion of Manager’s
management fees payable in Units
5,295
4,122
5,295
4,122
– Units issued in respect of acquisition fee for
CapitaMall Grand Canyon
3,562
–
3,562
–
Units issued in respect of the distribution
reinvestment plan
26,653
8,732
26,653
8,732
Distributions to Unitholders
(75,634)
(46,414)
(75,634)
(46,414)
Equity issue expenses
–
(1,800)
–
(1,800)
Net (decrease)/increase in net assets
resulting from Unitholders’ transactions
(40,124)
23,678 (40,124)
23,678
Unitholders’ funds as at end of year
1,349,738 1,186,951 514,680 542,413
The accompanying notes form an integral part of these financial statements.
Statements of Movements in Unitholders’ Funds
Year ended 31 December 2014
84 | CapitaRetail China Trust Annual Report 2014
