July » Reported DI of S$63.1 million and DPU of 3.74 S cents for 1H 2023. » Recovered 2,310 sq m of supermarket anchor space at Rock Square basement two and reconfigured the area to enhance overall shopping experience. Introduced popular lifestyle offerings, including Gifts & Toys and specialty F&B stores. The return on investment (ROI) for this new reconfiguration was more than 13%. August » Appointed Mr Tan Tee How as NonExecutive Independent Director, with effect from 1 August 2023. September » Appointed Ms Wan Mei Kit as NonExecutive Independent Director, with effect from 1 October 2023. » Improved Sustainalytics ESG Risk Rating from Low Risk to Negligible Risk. October » Awarded 5 Star rating in the GRESB Real Estate Assessment 2023 with a score of 91, placing CLCT in the top 20% of the global benchmark (2022: 2 Star rating, score of 71). » Received an A for GRESB Public Disclosure 2023, ranked 1st out of 8 in the peer group. » Established the Sustainability-Linked Finance Framework and obtained a Second-Party Opinion from Moody’s Investors Service. » Launched the inaugural RMB600 million free trade zone (FTZ) three-year tenor offshore bonds with a coupon rate of 3.8% per annum. First Singapore-based issuer to launch FTZ offshore bonds, diversifying funding sources to fuel longterm growth. » Announced 3Q 2023 Business Updates. December » Completed the AEI at basement one of CapitaMall Grand Canyon, with a refreshed tenant mix spanning ~7,800 sq m that includes a new retail concept supermarket, 7FRESH, by China’s JD.com, as well as 60 popular F&B outlets and trendy retail & amenity stores. Post AEI, rental income for the area grew approximately 50%. » Announced divestment of CapitaMall Shuangjing at the agreed price of the property of RMB842.0 million (around S$157.8 million3), representing an exit yield of 2.8%4. The strategic divestment presented a good opportunity to unlock value, strengthen the balance sheet, and provide greater financial flexibility to pursue capital recycling and portfolio reconstitution initiatives. » Announced the retirement of Ms Kuan Li Li as Non-Executive Independent Director and she relinquished her role as member of the Audit Committee (now known as Audit and Risk Committee (ARC)), with effect from 1 January 2024. » Announced the appointment of Mr Tan Tee How and Ms Wan Mei Kit as member of the NRC and ARC respectively, with effect from 1 January 2024. 3 Based on an assumed exchange rate of S$1 to RMB5.3348 unless otherwise stated. CapitaMall Shuangjing was divested to Inner Mongolia Haiyu Shengyuan Operation and Management Company Limited via CLCT’s divestment of its entire equity interest in CapitaRetail Beijing Shuangjing Real Estate Co., Ltd.. An independent valuation, carried out using the Income Capitalisation Analysis and Discounted Cashflow Analysis methods, valued CapitaMall Shuangjing at RMB 621.0 million (approximately S$116.4 million) as at 31 October 2023. 4 This is based on annualising the net property income of CapitaMall Shuangjing from 1 January 2023 to 30 September 2023 and divided by the agreed price of RMB842.0 million (around S$157.8 million). 3rd Quarter 4th Quarter Rock Square ANNUAL REPORT 2023 11 Financials Framework Portfolio Performance Leadership Overview
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