Singapore Exchange Ltd. · SGX:S68
Singapore Exchange — Sabana Shari'ah Compliant Industrial REIT — Q2 2012 Earnings Presentation
27 slides from Singapore Exchange's earnings presentation, Jul 19, 2012
Slide 1: Sabana Shari'ah Compliant Industrial REIT 2Q 2012 Financial Results Presentation
Sabana Shari’ah Compliant Industrial REIT 2Q 2012 Financial Results Presentation 19 July 2012
Slide 2: Disclaimers
Disclaimers This presentation shall be read in conjunction with Sabana Shari’ah Compliant REIT’s financial information for the period from 1 April 2012 to 30 June 2012. This presentation may contain forward‐looking statements that involve risks and uncertainties. Actual future performance, outcomes
Slide 3: Agenda
I. About Sabana Shari’ah Compliant Industrial REIT II. Key financial highlights III. Financial performance IV. Portfolio update V. Market outlook VI. Distribution details 3
Slide 4: About Sabana Shari'ah Compliant REIT
About Sabana Shari’ah Compliant REIT Sabana Shari'ah Compliant Industrial Real Estate Investment Trust ("Sabana Shari’ah Compliant REIT“ or the “Trust”)(1) was listed on the Singapore Exchange on 26 November 2010. It aims to create value for its Unitholders by investing in income‐generating industri
Slide 5: Increasing international recognition
Increasing international recognition Sabana Shari’ah Compliant REIT has received eight regional/international awards since it was listed in 2010. The latest ones include: In February 2012, Sabana Shari’ah Compliant REIT was awarded “Best Domestic Securitization” at The Asset Triple A Regional Deal A
Slide 6: Key financial highlights
I. About Sabana Shari’ah Compliant Industrial REIT II. Key financial highlights III. Financial performance IV. Portfolio update V. Market outlook VI. Distribution details 6
Slide 7: Key financial highlights
Key financial highlights Sabana Shari’ah Compliant REIT beats forecast for six straight quarters: The Trust continues to enjoy DPU growth, which arose from the rental income of the five new buildings acquired at the end of 2011. Net property income (NPI) and distributable income for 2Q 2012 exce
Slide 8: Financial performance
I. About Sabana Shari’ah Compliant Industrial REIT II. Key financial highlights III. Financial performance IV. Portfolio update V. Market outlook VI. Distribution details 8
Slide 9: 2Q 2012 outperforms forecast
2Q 2012 outperforms forecast For the quarter ended 30 June 2012 2Q 2012 2Q 2012 Fav/(Unfav) (in S$'000) Actual Forecast(1) (%) Net property income (NPI) 19,075 16,539 15.3 Income available for distribution 14,501 13,823 4.9 Distribution per unit (DPU) (in cents)(2) 2.27 2.17 4.6 Annualised DPU (in c
Slide 10: Financial performance
Financial performance For the quarter ended 30 June 2012 • Gross revenue and NPI exceeded forecasts by 18.1% and 15.3% Fav/ respectively. 2Q 2012 2Q 2012 (in S$'000) (Unfav) Actual Forecast(1) • Property expenses are 86.1% (%) above forecast, mainly due to Gross revenue 20,346 17,222 18.1 higher act
Slide 11: Balance sheet
Balance sheet As at 30 June 2012 S$'000 Investment properties 1,043,887 Intangible assets 3,906 Other assets 29,128 Total assets 1,076,921 Debt, at amortised cost 361,006 Other liabilities 35,378 Total liabilities 396,384 Net assets attributable to unitholders 680,537 Units in issue(1) 639,528,000 N
Slide 12: Prudent capital management
Prudent capital management Secured two to three years S$ million Term Commodity Murabaha Facilities(1) of S$220.6 million and S$132.2 million in 2010 and 2011 respectively. Profit‐rate swaps in place ‐ fixed rates for Term Facilities. As at 30 June 2012 Debt headroom of S$86.9 Borrowings S$364
Slide 13: Donations of non-shari'ah compliant income
Donations of non‐shari’ah compliant income Sabana Shari’ah Compliant REIT has selected the following organisations as beneficiaries to its 2Q 2012 non‐shari’ah income donation: Organisation: Islamic Religious Council of Singapore (MUIS) Purpose: The Trust allocated S$15,000 to sponsor a book titled
Slide 14: Portfolio update
I. About Sabana Shari’ah Compliant Industrial REIT II. Key financial highlights III. Financial performance IV. Portfolio update V. Market outlook VI. Distribution details 14
Slide 15: Quality portfolio strategically located
Quality portfolio strategically located Properties are located in hi‐tech industrial and logistics hubs spread across Singapore and in close proximity to expressways and public transportation High‐tech Industrial 1 151 Lorong Chuan 2 8 Commonwealth Lane 3 9 Tai Seng Drive 4 200 Pandan Loop 5 15 Jala
Slide 16: High occupancy rates
High occupancy rates As at 30 June 2012 Total portfolio GFA 3,998,796 sq ft Portfolio occupancy 19 properties (17 triple net & 2 single net master lease) 100.0% 1 property, multi‐tenanted (9 Tai Seng Drive) 98.4% Weighted average lease term to expiry(1) 2.6 years Weighted average unexpired lease ter
Slide 17: Diverse asset types
Diverse asset types Sabana Shari’ah Compliant REIT’s portfolio is diversified in the following asset types: • High‐tech Industrial • Warehouse & Logistics • Chemical Warehouse & Logistics • General Industrial Asset Breakdown by GFA for 2Q 2012(1) Gross Revenue by Asset Type for 2Q 2012 (1) Chemical
Slide 18: Long weighted average leasehold for underlying land
Long weighted average leasehold for underlying land Percentage of unexpired land lease term by GFA(1) 54.1% 17.9% 10.4% 7.3% 5.9% 4.5% ‐ 2032 ‐ 2036 2037 ‐ 2041 2042 ‐2046 2047 ‐2051 2052 ‐ 2056 2057‐ 2061 Beyond 2061 Well distributed, long underlying land leases, with an average of 39.7 years by GF
Slide 19: Long weighted average master lease duration
Long weighted average master lease duration Lease Expiry Profile by Gross Revenue(1) 47.4% 36.3% 9.2% 3.2% 3.9% ‐ 2012 2013 2014 2015 2016 Beyond 2016 Weighted average lease term to expiry of 2.6 years provides income stability. Note: (1) 1 Tuas Avenue 4 – The Manager has signed a new 10+5 year mast
Slide 20: Quality assets attract quality tenants
Quality assets attract quality tenants As at As at 30 Jun 2012 31 Mar 2012 Total NLA (sq ft) 3,165,643 3,165,643 Total number of sub‐tenants 138 138 Weighted average lease term to expiry (mths)(1) 20.2 21.4 (1) Based on sub-tenancy gross rent. 20
Slide 21: Diverse sub-tenant base
Diverse sub‐tenant base Sub‐tenants’ Industry Diversification by NLA(1): Health‐ General R&D care Manufacturing F&B 2.8% 2.9% Industries 0.6% 3.0% Engineering Logistics 5.2% 18.7% Information Technology 6.9% Storage Others 7.5% 16.1% Chemical 8.2% Telecommunication Electronics & Data 12.7% Warehousi
Slide 22: Market outlook
I. About Sabana Shari’ah Compliant Industrial REIT II. Key financial highlights III. Financial performance IV. Portfolio update V. Market outlook VI. Distribution details 22
Slide 23: Market outlook
Market outlook Private sector economists have upgraded their 2012 economic growth forecast for Singapore to 3%, up from 2.5% previously. Meanwhile, the government’s official forecast is in the range of 1% to 3%.(1) Accordingly to DTZ’s research on industrial property market, as a result of price
Slide 24: Distribution details
I. About Sabana Shari’ah Compliant Industrial REIT II. Key financial highlights III. Financial performance IV. Portfolio update VI. Market outlook VII. Distribution details 24
Slide 25: Distribution details
Distribution details Stock counter Distribution period DPU (cents) SABANA REIT Code: M1GU 1 April 2012 to 30 June 2012 2.27 Distribution Timetable Ex‐date 25 July 2012, 9am Books closure date 27 July 2012, 5pm Distribution payment date 29 August 2012 Donations to approved charities 29 August 2012 or
Slide 26: Thank you!
Thank you! Sabana Real Estate Investment Management Pte. Ltd. 151 Lorong Chuan #02-03 New Tech Park Singapore 556741 www.sabana-reit.com Tel: +65 6580 7750 Fax: +65 6280 4700 For enquires, please contact: Mr Bobby Tay Chief Strategy Officer & Head of Investor Relations Tel: +65 6580 7750 Email: bobb
Slide 27: Important Notice
Important Notice This presentation is for information only and does not constitute an offer, invitation or solicitation of securities in Singapore or any other jurisdiction nor should it or any part of it form the basis of, or be relied upon in connection with, any contract or commitment whatsoever.
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