Suntec Real Estate Investment Trust · SGX:T82U

Suntec Real Estate Investment Trust — Q3 2009 Earnings Presentation

18 slides from Suntec Real Estate Investment Trust's earnings presentation, Oct 27, 2009

  1. Slide 1: Suntec REIT Financial Results for the Quarter 1 July – 30 September FY09

    SUNTEC REAL ESTATE INVESTMENT TRUST Financial Results for the Quarter 1 July – 30 September FY09 Trust Management (Suntec) Limited Trust Management (Suntec) Limited Agenda • Financial Highlights • Update on Portfolio Performance • Update on Asset Enhancement • Acquisition Strategy & Update • Unit Pe

  2. Slide 2: Financial Summary: 3Q FY09 and YTD FY09

    Financial Summary: 1 July – 30 September FY09 (3Q FY09) Distribution Income of S$47.74 mil outperformed by 8.8% y-o-y Period: 1 July – 30 September 3Q FY09 3Q FY08 Change Distribution income S$47.74 mil S$43.86 mil +8.8% Distribution per unit1 2.921¢ 2.854¢ +2.3% Annualised distribution per unit1 11

  3. Slide 3: DPU Performance

    DPU Performance DPU for YTD FY09 up by 8.0% y-o-y (cents) (cents) 2.94 8.90 8.816 2.921 2.92 8.70 2.90 8.50 2.88 8.30 8.166 2.86 2.854 8.10 2.84 7.90 2.82 7.70 2.80 7.50 p FY08 Jul - Sep Jul - Sep p FY09 YTD FY08 YTD FY09 ƒ 3Q FY09 DPU of 2.921 cents grew by 2.3% year- ƒ YTD FY09 DPU of 8.816 cents

  4. Slide 4: Financial Results: Third Quarter FY09

    Financial Results : Third Quarter FY09 • Cost-to-Revenue ratio of 22.4% for 4QFY08 Quarterly Distribution Income up 8.8% y-o-y For the period 3Q FY09 3Q FY08 Change (S$’000) (S$’000) (%) 1 July – 30 September Revenue 61 948 61,948 61 447 61,447 08 0.8 • Revenue grew by 0.8% 0 8% Less property expens

  5. Slide 5: Portfolio Distribution: Suntec City Properties contribute 86% of Gross Revenue

    Portfolio Distribution Suntec City Properties contribute 86% of Total Gross Revenue1 For the Period 1 Jul '09 - 30 Sep '09 For the Period 1 Jan '09 - 30 Sep '09 180,000 165,973 60,000 53,398 160 000 160,000 50,000 140,000 126,722 40,915 40,000 120,000 S$'000 S$'000 100,000 30,000 80,000 20,000 60,00

  6. Slide 6: Debt Capital Details

    Debt Capital Details Debt-to-Assets ratio 34.3% Debt Maturity Profile Dec 2009 – S$50m RCF 800 50 Dec 2009 – S$700m CMBS 700 600 Feb-Apr 2011 – S$132.5m MTN S$ Millions 500 132.5 Jun 2011 – S$400m Club loan 400 700 700 25 Jun 2012 – S$50m (partial drawdown from 300 S$825m term loan facility) 50 50 2

  7. Slide 7: Balance Sheet

    Balance Sheet Total assets under management for the Group stood at S$5.4 billion Balance Sheet as at 30 Sep 2009 (S$’000) (S$ 000) Group Relevant Per Unit Statistics (Group) Investment properties 4,352,326 Net asset value (NAV) per unit3 S$1.974 Interest in jointly controlled entity1 973,356 Total a

  8. Slide 8: Update On Portfolio Performance: Office

    Update On Portfolio Performance Office Focus on Our Acquisition Core Retail Strategies and Goals Strategies to Create Value Asset Enhancement Trust Management (Suntec) Limited 15 Update On Office Portfolio Performance Office Focus on Our Acquisition Core Retail Strategies and Goals Strategies to Cre

  9. Slide 9: Office Portfolio Occupancy Above Market Average

    Office Office Office Portfolio Occupancy Above Market Average Overall committed occupancy of 96.4% Property As at As at As at As at Sep 06 Sep 07 Sep 08 Sep 09 Suntec Office Towers 97.7% 99.8% 99.3% 94.8% Park Mall 93.1% 100% 96.6% 100% One Raffles Quay - - 100% 100% Suntec REIT Portfolio 97.2% 99.8

  10. Slide 10: Office Portfolio Lease Expiry

    Office Portfolio Lease Expiry excluding One Raffles Quay Leases expiring in FY09 reduced to 1.0% Net Lettable Area As at 30 September 2009 Sq ft % of Total FY09 14,029 1.0 FY10 410,111 28.8 FY11 430,935 30.3 FY12 331,718 23.3 FY13 & Beyond y 169,156 , 11.9 ƒ Remaining leases expiring in FY09 down to

  11. Slide 11: Prime Grade A Office Rental Trend

    Office Office Prime Grade A Office Rental Trend 20-year market cycle of Singapore Prime Grade A office rents (Prime Grade A Gross 12.0 18.0 ‹ Downturn with the onset of the Asian financial crisis 10.8 S$psf pm) 9.5 in 1997, weak economic conditions triggered by the 16.0 10.0 8.3 (Prime Grade A Gross

  12. Slide 12: Retail Portfolio Occupancy and Rental Rates

    Retail Strong Retail Portfolio Occupancy Consistently high occupancy rates Property As at As at As at As at Sep 06 Sep 07 Sep 08 Sep 09 Suntec City Mall 97.6% 99.1% 99.5% 99.0% Park Mall 100% 100% 100% 100% Chijmes 100% 100% 100% 98.7% Suntec REIT Portfolio 98.1% 99.3% 99.6% 99.1% ƒ Retail portfolio

  13. Slide 13: Other Income Initiatives and Retail Lease Expiry Profile

    Retail Stable Contribution From Other Income Initiatives Total Other Income of S$4.9 million for YTD FY09 Total A&P Income 6,000 5,209 4,861 5,000 4,423 4,317 4,000 S$'000 3,000 1,838 2,000 1,000 0 YTD FY05 YTD FY06 YTD FY07 YTD FY08 YTD FY09 Source: ARATMS Trust Management (Suntec) Limited 25 Retai

  14. Slide 14: Update On Asset Enhancement

    Update On Asset Management Office Focus on Our Acquisition Core Retail Strategies and Goals Strategies to Create Value Asset Enhancement Trust Management (Suntec) Limited 27 Asset Enhancement Asset Enhancement Works for Suntec City ƒ Works for the upgrading of office lobbies for all five office towe

  15. Slide 15: Asset Enhancement Works for Suntec City

    Asset Enhancement Asset Enhancement Works for Suntec City ƒ Construction of glass external facade and covered walkway linking entrance of Promenade MRT station to Suntec City Mall in progress ƒ Creation of new retail units along the ESPLANADE STATION promenade ƒ To be completed by mid-2010 ƒ Bulk of

  16. Slide 16: Acquisition Update and Unit Performance

    Acquisition Assets Under Management Update Asset Size (S$ billion) 5.4 5.4 4.6 3.2 2.2 2.3 IPO Dec 04 Sep-05 Sep-06 Sep-07 Dec-08 Sep-09 ƒ Completed the acquisition of a 20% interest ONE RAFFLES in the joint venture company which owns QUAY Suntec Singapore on 30 September 2009 ƒ Continue to focus on

  17. Slide 17: Thank You

    Contact ARA Trust Management (Suntec) Limited www.suntecreit.com Yeo See Kiat www.ara-asia.com Chief Executive Officer seekiatyeo@ara com hk seekiatyeo@ara.com.hk Address: #16-02 Suntec Tower 4 Richard Tan 6 Temasek Boulevard Finance Director Singapore 038986 richardtan@ara.com.hk Tel: +65 6835 9232

  18. Slide 18: Disclaimer

    Disclaimer This presentation is focused on the comparison of actual results for the three months ended 30 September 2009 versus results achieved in the three months ended 30 September 2008. It should be read in conjunction with Paragraph 8 of Suntec REIT’s financial results for the period 1 July 200

Suntec Real Estate Investment Trust — Q3 2009 Earnings Presentation on 6ix