Frasers Property Ltd. · SGX:TQ5
Frasers Property — Frasers Commercial Trust — Shareholder Meeting (January 2015)
24 slides from Frasers Property's shareholder meeting presentation, Jan 22, 2015
Slide 1: Frasers Commercial Trust 6th Annual General Meeting
Frasers Commercial Trust 6th Annual General Meeting 22 January 2015
Slide 2: Important notice
Important notice Certain statements in this Presentation constitute “forward-looking statements”, including forward-looking financial information. Such forward-looking statement and financial information involve known and unknown risks, uncertainties and other factors which may cause the actual resu
Slide 3: Contents
Contents 3 Year in review Solid fundamentals Looking ahead
Slide 4: Year in review
Year in review 2B a FRASERS TRUST
Slide 5: Year in review – Financial highlights FY2014 results highlights
Year in review – Financial highlights 55 FY2014 results highlights Net Property Income S$90.6 million ↓ 0.3% Net Property Income (cash S$88.0 million ↑ 2.4% basis)1 Distributable Income to S$57.3 million ↑ 11.5% Unitholders Distribution Per Unit 8.51 cents ↑ 8.7% Singapore Net Asset Value per Unit
Slide 6: New highs in distributable income to Unitholders and DPU
Year in review - New highs in distributable income to Unitholders and DPU 6 Manager’s initiatives Highest distributable income to Unitholders have delivered since listing1 sustainable growth Highest DPU since listing1 5th consecutive year of DPU growth2 1 1 FCOT was listed on the main board
Slide 7: NAV per Unit continues to grow
7 Year in review – NAV per Unit continues to grow 7 NAV per Unit increased from S$1.34 to S$1.591 Created long-term value for Unitholders by growing the NAV per Unit NAV Per Unit1,2 S$ 4.4% CAGR 1 Excludes distributable income. 2 The number of Units used to calculate the NAV per Unit had been
Slide 8: Year in review - Asset values
Year in review - Asset values 8 Balanced portfolio consisting of Singapore and Australian properties Good quality and strategically located properties No one property consist of more than 32% of property value China Square Central Asset values as at 30 Sept 2014 31.7% Caroline Chisholm Singa
Slide 9: Healthy occupancy rates & WALE
Year in review – Healthy occupancy rates & WALE 9 Healthy average portfolio occupancy rate of 96.5% Healthy WALE of 3.9 years^ Geographical occupancy and % of NPI contribution As at 30 September Key portfolio statistics 2014 Ave Occupancy 96.5% WALE by gross rental 3.9 years^ income As at 30 S
Slide 10: Introduced Distribution Reinvestment Plan (DRP)
10 Year in review – Introduced Distribution Reinvestment Plan (DRP) 10 DRP was established and implemented in FY2014 Unitholders are able to increase participation in the Trust without incurring transaction/other related costs Cash retained will enlarge the capital base of the Trust Streng
Slide 11: Corporate Governance award
11 Year in review - Corporate Governance award 11 FCOT wins prestigious award in Corporate Governance for the second consecutive year at SIAS Investors’ Choice Awards 2014 Runner-up, Singapore Corporate Governance Award under the REITs and Business Trust category, 15th SIAS Investors’ Choice A
Slide 12: Proactive asset management
Proactive asset management
Slide 13: Portfolio review – Lease expiry profile
Portfolio review – Lease expiry profile 13 Properties in Singapore to benefit from the uptrend in office rents Alexandra Technopark poised to capture potential upside in rentals with the lack of new supply in high-specs space in Alexandra Precinct Property Lease Expiry as a proportion of total
Slide 14: Portfolio review – Rental reversions
Portfolio review – Rental reversions 14 Positive weighted average rental reversions for new and renewed leases that commenced in FY141 China Square 55 Market Alexandra Central Central Street Technopark Park FY14: 13.7% FY14: 15.1% FY14: 17.4% FY14: 21.4% As at 30 September 2014. Excludes retail tu
Slide 15: Proactive capital management
Proactive capital management
Slide 16: Capital Management and debt statistics
16 Capital Management and debt statistics 16 Well-spread loan maturities No concentration of borrowings due in one particular year All facilities have been obtained on a unsecured basis – improve financial flexibility of the Trust No refinancing required until FY2017 Debt maturity (Before
Slide 17: Creating sustainable growth
Creating sustainable growth
Slide 18: Strong fundamentals – Well spread lease expiry profile
Strong fundamentals – Well spread lease expiry profile 18 18 Well spread lease expiry provides income stability Portfolio lease expiry by gross rental income* As at 30 September 2014. Excludes retail turnover rent * Portfolio lease expiry by gross rental income before and after the early renewal
Slide 19: Strong fundamentals – Expiry of master lease boosts NPI and DPU growth
Strong fundamentals – Expiry of master lease boosts NPI and DPU growth 19 25 August 2014 - Master lease was not renewed Further boost to future master lease Underlying multi-tenant leases continue to exist NPI and DPU growth expired at FCOT now receives rents directly from underlying Alexand
Slide 20: Strong fundamentals – Stability of income
Strong fundamentals – Stability of income 20 Blue chip tenants with long leases contribute 46% of total gross rental income Blue Chip Tenants with Long Leases % (Gross Lease Rental Tenant Expiry Income) Commonwealth of Australia (Centrelink) Jul-25 16.7% Hewlett-Packard Singapore Pte Ltd Nov-17 11
Slide 21: Solid fundamentals – organic growth
Solid fundamentals – organic growth 21 21 More than 34% of leases have built-in step-up rents FY2015 – 2018 - Portfolio fixed % reviews Excludes retail turnover rent
Slide 22: Looking ahead
Looking ahead
Slide 23: Delivering growth
Delivering growth 23 23 Organic and in-organic initiatives to deliver growth in distributable income Continue to grow portfolio organically and inorganically Alexandra Technopark – significant contribution from underlying leases will boost future income and DPU Positive rental reversions
Slide 24: Thank you
Thank you Frasers Centrepoint Asset Management (Commercial) Limited Level 21 | 438 Alexandra Road | Alexandra Point | Singapore 119958 Tel: +65 6276 4882| Fax: +65 6276 8942| Email: fcot@fraserscentrepoint.com www. fraserscommercialtrust.com
Frasers Commercial Trust — Shareholder Meeting (January 2015) on 6ix