Sunway Real Estate Investment Trust · MYX:SUNREIT
Sunway Real Estate Investment Trust — Q1 FY2016 Earnings Presentation
59 slides from Sunway Real Estate Investment Trust's earnings presentation, Oct 29, 2015
Slide 1: Sunway REIT Financial Results 1st Quarter Ended 30 September 2015
Sunway REIT Financial Results 1st Quarter Ended 30 September 2015 (FYE 30 June 2016) Announcement Date: 29 October 2015
Slide 2: Disclaimer
DISCLAIMER This presentation is for information purposes only and does not constitute an offer, solicitation or advertisement with respect to the purchase or sale of any security of Sunway Real Estate Investment Trust (“Sunway REIT”) and no part of it shall form the basis of, or be relied on in conn
Slide 3: Table of Contents
Table of Contents 1. Financial Highlights 2. 1Q 2016 Financial Results 3. 1Q 2016 Portfolio Performance 4. 1Q 2016 Property Performance 5. Market Outlook 6. Investor Relations Driving values through sustainable growth 3
Slide 4: 1. Financial Highlights
1. Financial Highlights Driving values through sustainable growth 4
Slide 5: Distribution Details
Distribution Details Dividend Distribution Details Distribution Period 1 July 2015 - 30 Sept 2015 1 Distribution per Unit (DPU) (sen) 2.12 Notice of Entitlement 29 October 2015 Ex-Dividend Date 12 November 2015 Book Closure Date 16 November 2015 Payment Date 1 December 2015 1 Proposed income distrib
Slide 6: Financial Highlights
Financial Highlights Highlights 1Q 2016 1Q 2015 Change % No. of Properties 14 12 16.7% Property Value (RM'billion) 6.341 5.559 14.1% No. of Units in Circulation 2,940,078,600 2,930,983,100 0.3% Unit Price as at 30 Sept (RM) 1.55 1.53 1.3% Market Capitalisation (RM'billion) 4.557 4.484 1.6% Net Asset
Slide 7: Financial Highlights (Cont'd)
Financial Highlights (Cont’d) Gross Revenue (RM'm) Net Property Income (RM'm) 500.0 400.0 400.0 6.5% 1 4.0% 2 300.0 300.0 200.0 200.0 121.2 113.8 100.0 89.9 86.5 100.0 - - 1Q 1Q 2016 2015 2016 2015 1 Gross revenue increased 6.5% or RM7.4 million contributed by the retail and hotel segments but parti
Slide 8: Financial Highlights (Cont'd)
Financial Highlights (Cont’d) Profit Before Tax (Realised) (RM'm) DPU (sen) 300.0 4.00 5.0% 1 2 4.5% 7.0% 3.00 200.0 2.12 2.28 2.00 100.0 60.6 63.4 1.00 - - 1Q 1Q 2016 2015 2016 2015 1 Realised PBT decreased by 4.5% or RM2.8 million due to higher finance costs as explained on page 11. 2 DPU decrease
Slide 9: 2. 1Q 2016 Financial Results
18.1% 2. 1Q 2016 Financial Results Driving values through sustainable growth 9
Slide 10: Statement of Comprehensive Income – Consolidated
Statement of Comprehensive Income – Consolidated 1Q 2016 1Q 2015 Change YTD 2016 YTD 2015 Change RM'000 RM'000 % RM'000 RM'000 % Gross revenue 121,216 113,812 6.5% 121,216 113,812 6.5% Less : Property operating expenses (31,274) 1 (27,320) 14.5% (31,274) (27,320) 14.5% Net property income 89,942 86,
Slide 11: Statement of Comprehensive Income – Consolidated (Cont'd)
Statement of Comprehensive Income-Consolidated (Cont’d) Explanation: 1 Property operating expenses was higher in 1Q 2016 compared to 1Q 2015 of RM4.0m due to: - Lower assessment in 1Q 2015 as there were reversal of overprovision for assessment for KL properties pursuant to confirmation of final incr
Slide 12: Statement of Financial Position – Consolidated
Statement of Financial Position – Consolidated 30.09.15 30.06.15 RM'000 RM'000 ASSETS Non-current assets Plant and equipment 7,040 5,268 Investment properties 6,341,438 6,324,000 6,348,478 6,329,268 Current assets Receivables, deposits and prepayments 19,249 20,174 Derivative 1 79,454 14,358 Cash an
Slide 13: Debt Profile
Debt Profile Facility Limit RM'mil RM'mil Loan Maturity Profile (RM'mil) 900.0 Term Loan 360.9 439.51 800.0 Commercial Papers (CP) / 700.0 2 Revolving Loans (RL) 1,100.0 785.4 600.0 285.4 Unrated MTNs 1,000.0 1,000.0 500.0 400.0 Total Gross Borrowings 2,224.9 300.0 3 Discount on Commercial Papers (0
Slide 14: 3. 1Q 2016 Portfolio Performance
3. 1Q 2016 Portfolio Performance Driving values through sustainable growth 14
Slide 15: 1Q/YTD 2016 Revenue Contribution by Segment
1Q/YTD 2016 Revenue Contribution 1Q 2016 (RM'mil) 121.2 1Q 2015 (RM'mil) 113.8 By segment 100.0 87.0 81.1 80.0 60.0 40.0 20.6 17.0 20.0 8.4 10.7 5.2 5.0 - Retail Hotel Office Others 1Q 2016 1Q 2015 Driving values through sustainable growth 15
Slide 16: 1Q/YTD 2016 Revenue Contribution (Cont'd)
1Q/YTD 2016 Revenue Contribution (Cont’d) 1Q/YTD 2016 (RM'mil) 121.2 1Q/YTD 2015 (RM'mil) 113.8 Retail Hotel Office Others 80.0 72.0 69.1 70.0 60.0 50.0 40.0 30.0 20.0 10.5 10.6 11.4 9.1 10.0 6.1 5.5 4.4 4.5 5.2 5.0 3.3 1.4 3.6 1.2 1.2 0.2 0.9 1.2 1.4 1.2 0.8 - 0.9 2.6 1.7 - - Sunway Sunway SCI Sunw
Slide 17: 1Q/YTD 2016 Revenue Contribution (Cont'd)
1Q/YTD 2016 Revenue Contribution (Cont’d) Explanation: * 1 Sunway Pyramid – Achieved gross revenue growth of 4.2% or RM2.9 million for 1Q 2016 compared to 1Q 2015 mainly due to higher average net rent per sq. ft. 2 Sunway Putra Mall – Registered gross revenue of RM3.3 million for 1Q 2016, with tenan
Slide 18: 1Q/YTD 2016 Revenue Contribution (Cont'd)
1Q/YTD 2016 Revenue Contribution (Cont’d) By segment Others By property Office 4.3% 6.9% Sunway Putra Tower Wisma Sunway Sunway Medical Sunway Tower 0.7% Centre Hotel 1.4% 1.2% 4.3% 17.0% Menara Sunway Sunway Hotel 3.6% Georgetown Retail 0.7% 71.8% Sunway Putra Hotel 1.2% Pyramid Tower East* Sunway
Slide 19: 1Q/YTD 2016 NPI Contribution
1Q/YTD 2016 NPI Contribution 1Q 2016 (RM'mil) 89.9 1Q 2015 (RM'mil) 86.5 By Segment 70.0 61.0 57.4 60.0 RM'million 50.0 40.0 30.0 19.6 20.0 16.9 7.2 5.2 5.0 10.0 4.1 - Retail Hotel Office Others 1Q 2016 1Q 2015 Driving values through sustainable growth 19
Slide 20: 1Q/YTD 2016 NPI Contribution (Cont'd)
1Q/YTD 2016 NPI Contribution (Cont’d) NPI Margin 1Q/YTD 2016 (RM'mil) 89.9 74.2% 1Q/YTD 2015 (RM'mil) 86.5 76.0% Retail Hotel Office Others 60.0 55.0 50.0 45.0 40.0 35.0 30.0 25.0 20.0 15.0 10.0 5.0 - (5.0) Sunway Sunway Sunway Sunway Sunway Sunway SCI Sunway Pyramid Hotel Sunway Menara Sunway Sunwa
Slide 21: 1Q/YTD 2015 NPI Contribution (Cont'd)
1Q/YTD 2015 NPI Contribution (Cont’d) Explanation: 1 Sunway Pyramid – Higher NPI of RM4.1m despite an increase of RM2.9m in revenue due to lower advertising and promotion expenses incurred. 2 Sunway Putra Mall – Net loss due to rent-free period granted to tenants as explained on page 17. 3 Sunway Re
Slide 22: 1Q/YTD 2016 NPI Contribution (Cont'd)
1Q/YTD 2016 NPI Contribution (Cont’d) By segment Others Office5.8% By property 4.6% Sunway Tower Sunway 0.2% Putra Tower Wisma Sunway Hotel Menara Sunway 0.0% 1.1% Sunway Medical 21.8% 3.5% Centre Sunway Hotel 5.7% Georgetown Retail 0.9% 67.8% Sunway Putra Hotel Pyramid 1.1% Tower East* 6.6% Sunway
Slide 23: Resilient Income Stream
Resilient Income Stream Well spread-out lease expiry profile and diverse tenant base WALE 1 as at 30 September 2015 – 2.18 years Top 10 tenants contribute approximately 11.3% of total revenue Projected tenancy expiry of portfolio 2 Top 10 tenants ³ Total Top 10 Tenants 11.3% 60.0% Parkson Corporatio
Slide 24: 4. 1Q 2016 Property Performance
4. 1Q 2016 Property Performance Driving values through sustainable growth 24
Slide 25: Retail Properties: Sunway Pyramid Shopping Mall
RETAIL PROPERTIES SUNWAY PYRAMID SHOPPING MALL Historical occupancy rates Projected lease expiry schedule Average occupancy rate 60.0% 50.0% 100.0% 98.5% 98.6% 98.3% 97.8% 98.1% 98.6% 98.0% 40.0% 95.0% 30.0% 90.0% 20.0% 85.0% 10.0% 80.0% 6.4% 4.8% 9.7% 53.2% 24.4% 0.0% FY2016 FY2017 FY2018 FY2019 Mo
Slide 26: Sunway Pyramid Shopping Mall (Cont'd)
RETAIL PROPERTIES SUNWAY PYRAMID SHOPPING MALL (Cont’d) Tenant mix 1 Top 10 tenants 1 Total Top 10 Tenants 11.7% Aeon Co (M) Bhd 2.1% 24.1% Parkson Corporation Sdn Bhd 1.6% 37.0% TGV Cinemas Sdn Bhd 1.4% 5.0% Sunway Resort Hotel Sdn Bhd 1.1% (Convention Centre) 4.3% Padini Dot Com Sdn Bhd 1.0% 5.0%
Slide 27: Retail Properties: Sunway Carnival Shopping Mall
RETAIL PROPERTIES SUNWAY CARNIVAL SHOPPING MALL Historical occupancy rates Projected lease expiry schedule Average occupancy rate 60.0% 50.0% 99.5% 100.0% 97.4% 97.3% 40.0% 95.0% 94.3% 92.0% 30.0% 90.6% 91.2% 90.0% 20.0% 85.0% 10.0% 25.9% 50.9% 11.6% 4.7% 0.5% 80.0% 0.0% FY2016 FY2017 FY2018 FY2019
Slide 28: Sunway Carnival Shopping Mall (Cont'd)
RETAIL PROPERTIES SUNWAY CARNIVAL SHOPPING MALL (Cont’d) Tenant mix 1 Top 10 tenants 1 Total Top 10 Tenants 23.0% Parkson Corporation Sdn Bhd 8.8% 23.8% 26.3% Sam's Groceria Sdn Bhd 2.4% Sunway Hotel (Seberang Jaya) Sdn Bhd 2.2% (Convention Centre) 9.1% Life Habitat Sdn Bhd (Studio) 1.6% 17.4% Apex
Slide 29: Retail Properties: Suncity Ipoh Hypermarket
RETAIL PROPERTIES SUNCITY IPOH HYPERMARKET Historical occupancy rates Average occupancy rate 100% 100% 100% 100% 100% 100% 100% 100% 95% 90% 85% 80% 75% Jun-11 Jun-12 Jun-13 Jun-14 Jun-15 YTD 1Q YTD 1Q 2016 2015 Suncity Ipoh Hypermarket is tenanted to a single tenant, a major hypermarket and retaile
Slide 30: Retail Properties: Sunway Putra Mall
RETAIL PROPERTIES SUNWAY PUTRA MALL Historical occupancy rates Projected lease expiry schedule Average occupancy rate 70.0% 60.0% 100.0% 50.0% 79.8% 82.4% 83.9% 80.0% 40.0% 69.8% 30.0% 60.0% 20.0% 40.0% 10.0% 17.6% 3.2% 60.2% 10.4% 10.1% 20.0% 0.0% FY2017 FY2018 FY2019 Monthly 0.0%* 0.0%* tenancy 0.
Slide 31: Sunway Putra Mall (Cont'd)
RETAIL PROPERTIES SUNWAY PUTRA MALL (Cont’d) Tenant mix 1 Top 10 tenants 1 Total Top 10 Tenants 17.1% TGV Cinemas Sdn Bhd 2.8% 29.2% Padini Dot Com Sdn Bhd 2.3% 36.0% Neonshine Sdn Bhd 2.0% NFC Clothier Sdn Bhd 1.7% Sports Direct MST Sdn Bhd 1.6% 3.2% 25.0% RCB Marketing Sdn Bhd 1.5% 4.8% 1.8% Gener
Slide 32: Hospitality Properties: Sunway Resort Hotel & Spa
HOSPITALITY PROPERTIES SUNWAY RESORT HOTEL & SPA Historical occupancy rate Average occupancy rate Average occupancy rate (%) 85.0% 90.0% 87.4% 78.8% 78.0% 80.0% 76.0% 85.0% 75.0% 71.3% 69.4% 80.9% 81.1% 70.0% 66.7% 80.0% 65.0% 75.6% 60.0% 75.0% 74.0% 55.0% 50.0% 70.0% Jun-10 Jun-11 Jun-12 Jun-13 Jun
Slide 33: Hospitality Properties: Pyramid Tower East
HOSPITALITY PROPERTIES PYRAMID TOWER EAST (formerly known as PYRAMID TOWER HOTEL) Historical occupancy rate Average occupancy rate (%) Average occupancy rate 95.0% 85.0% 83.1% 82.4% 92.0% 80.9% 81.4% 78.7% 90.0% 80.0% 75.0% 85.0% 83.7% 70.0% 79.8% 80.0% 65.0% 75.3% 75.0% 73.8% 60.0% Jun-11 Jun-12 Ju
Slide 34: Hospitality Properties: Sunway Hotel Seberang Jaya
HOSPITALITY PROPERTIES SUNWAY HOTEL SEBERANG JAYA Historical occupancy rate Average occupancy rate Average occupancy rate (%) 90.0% 90.0% 80.0% 80.0% 80.0% 77.6% 75.7% 70.2% 69.6% 67.8% 70.0% 69.7% 70.0% 60.0% 51.6% 60.2% 60.0% 50.0% 55.2% 40.0% 50.0% Jun-11 Jun-12 Jun-13 Jun-14 Jun-15 40.0% Avg occ
Slide 35: Hospitality Properties: Sunway Hotel Georgetown
HOSPITALITY PROPERTIES SUNWAY HOTEL GEORGETOWN Historical occupancy rate Average occupancy rate Average occupancy rate (%) 80.0% 90.0% # 76.2% 80.0% 76.0% 75.0% 70.5% 70.4% 69.1% 70.0% 68.8% # 70.2% 70.0% 68.7% 67.4%* 60.0% 54.7% 65.0% 50.0% 40.0% 60.0% # # # # * Jun-11 Jun-12 Jun-13 Jun-14 Jun-15 A
Slide 36: Hospitality Properties: Sunway Putra Hotel
HOSPITALITY PROPERTIES SUNWAY PUTRA HOTEL Historical occupancy rate Average occupancy rate Average occupancy rate (%) 40.0% 70.0% 60.2% 36.5% 36.4% 59.0% 60.0% 35.0% 31.6% 50.0% 42.6% 30.0% 40.0% 25.2% 28.8% 25.0% 22.3% 30.0% 20.0% 20.0% 10.0% 15.0% 0.0% Jun-12 * Jun-13 Jun-14 Jun-15 10.0% Avg occup
Slide 37: Office Properties: Menara Sunway
OFFICE PROPERTIES MENARA SUNWAY Historical occupancy rates Projected lease expiry schedule Average occupancy rate 70.0% 60.0% 99.7% 100.0% 98.5% 98.9% 98.8% 97.1% 97.7% 50.0% 95.1% 95.0% 40.0% 90.0% 30.0% 20.0% 85.0% 10.0% 80.0% 63.9% 3.3% 7.1% 7.3% 13.6% 0.0% FY2016 FY2017 FY2018 FY2019 Monthly 75.
Slide 38: Menara Sunway (Cont'd)
OFFICE PROPERTIES MENARA SUNWAY (Cont’d) Tenant mix 1 Top 10 tenants 1 1.8% Total Top 10 Tenants 81.4% 1.8% 7.9% 3.0% Sunway Management Sdn Bhd 15.8% 3.0% 27.2% Sunway Integrated Properties Sdn Bhd 15.3% (IH) 6.8% Maxis Mobile Sdn Bhd 14.0% Sunway Construction Sdn Bhd 9.6% 12.5% Sunway Shared Servic
Slide 39: Office Properties: Sunway Tower
OFFICE PROPERTIES SUNWAY TOWER Historical occupancy rates Projected lease expiry schedule Average occupancy rate 5.0% 100.0% 97.0% 4.0% 93.5% 83.0% 84.3% 3.0% 80.0% 76.1% 66.9% 2.0% 60.0% 1.0% 40.0% 4.90% 3.30% 4.00% 4.10% 29.3% 0.0% FY2016 FY2017 FY2018 Monthly 20.0% tenancy Jun-11 Jun-12 Jun-13 Ju
Slide 40: Sunway Tower (Cont'd)
OFFICE PROPERTIES SUNWAY TOWER (Cont’d) Tenant mix 1 Top 10 tenants 1 Total Top 10 Tenants 98.2% 2 Intecsea Sdn Bhd 24.8% 17.8% 24.8% Royal Danish Embassy 15.2% ACCA Malaysia Sdn Bhd 14.7% 8.3% WRP Asia Pacific Sdn Bhd 10.5% 8.6% 15.3% Zhuojian Associates Sdn Bhd 8.6% 10.5% R1 International Sdn Bhd
Slide 41: Office Properties: Sunway Putra Tower
OFFICE PROPERTIES SUNWAY PUTRA TOWER Historical occupancy rates Projected lease expiry schedule Average occupancy rate 20.0% 98.7% 16.0% 100.0% 85.2% 12.0% 78.0% 76.9% 80.0% 74.2% 8.0% 60.0% 52.8% 4.0% 40.0% 10.5% 15.7% 0.5% 26.7% 0.0% FY2016 FY2017 Monthly tenancy 20.0% Jun-11 Jun-12 Jun-13 Jun-14
Slide 42: Sunway Putra Tower (Cont'd)
OFFICE PROPERTIES SUNWAY PUTRA TOWER (Cont’d) Tenant mix 1 Top tenants 1 Total Top Tenants 100.0% Kementerian Perdagangan Dalam 2.1% Negeri Koperasi Dan Kepenggunaan 58.5% 5.0% Malaysia 4.3% Jabatan Perdana Menteri (I.C.U) 14.1% Jabatan Pengairan & Saliran 13.9% Malaysia (JPS) Chini Enterprise Sdn B
Slide 43: Office Properties: Wisma Sunway
OFFICE PROPERTIES WISMA SUNWAY Historical occupancy rates Projected lease expiry schedule Average occupancy rate 35.0% 30.0% 100.0% 25.0% 95.0% 20.0% 89.8% 89.8% 90.0% 88.7% 88.3% 86.9% 15.0% 85.1% 85.0% 80.9% 10.0% 80.0% 5.0% 75.0% 33.1% 25.8% 30.8% 0.0% FY2016 FY2017 FY2018 70.0% Jun-11 Jun-12 Jun
Slide 44: Wisma Sunway (Cont'd)
OFFICE PROPERTIES WISMA SUNWAY (Cont’d) Tenant mix 1 Top tenants 1 Total Top Tenants 100.0% 2.7% Jabatan Kesihatan Negeri Selangor 35.5% Jabatan Alam Sekitar 30.4% Lembaga Hasil Dalam Negeri 15.2% Yayasan Penyelidikan Transformasi 5.8% Pejabat Tindakan Pelancongan 5.2% Negeri Selangor Suruhanjaya Ko
Slide 45: 5. Market Outlook
5. Market Outlook Driving values through sustainable growth 45
Slide 46: General Outlook
General Outlook o The strength of global economy has softened in the first half of CY2015, reflecting a further slowdown in the emerging markets and weaker recovery in the advanced economies. Based on preliminary data, global economic growth is estimated at 2.9% in the first half of CY2015. Accordin
Slide 47: General Outlook
General Outlook o BNM remained accommodative in its monetary policy. In the recent Monetary Policy Meeting (“MPC”) on 11 September 2015, BNM has maintained the Overnight Policy Rate (“OPR”) at 3.25%. In view of the heightened risks in the global economic and financial environment, BNM continues to m
Slide 48: Retail
Retail o Retail Group Malaysia (“RGM”) has revised its 2015 retail-sales-growth projection for the fourth time after the second quarter sales plunged by 11.9% from a year ago, the worst quarterly retail growth rate since the 1997/98 Asian financial crisis. Retail sales forecast was revised from 4.0%
Slide 49: Retail (Cont'd)
Retail (Cont’d) o Sunway Carnival Shopping Mall recorded lower average occupancy rate of 94.3% in 1QFY2016 due to reconfiguration of 2nd floor area of approximately 21,000 sq.ft. (equivalent to 4% of NLA) into food and beverage (“F&B”) area which is targeted to commence operation in 3QFY2016. During
Slide 50: Hotel
Hotel o Tourist arrivals and outbound travelling have experienced a massive decline during the first six months of the year. According to the Malaysian Association of Tour and Travel Agents (MATTA), there had been a 30% decline for YTD 1HCY2015 compared to the corresponding period in the previous ye
Slide 51: Hotel (Cont'd)
Hotel (Cont’d) o The average occupancy rate at Sunway Putra Hotel was stable at 36.5% in 1QFY2016 compared to 36.4% in 1QFY2015 following the re-opening of Sunway Putra Mall and substantially completed hotel refurbishment . The full completion of the hotel’s refurbishment is targeted in 2QFY2016. o
Slide 52: Office
Office o Klang Valley’s office stock increased marginally from 107.86 million sq.ft. in 1QCY2015 to 108.26 million sq.ft. in 2QCY2015. A large incoming supply of 12 million sq.ft. is slated for completion between 2HCY2015 and 4QCY2017. o The average occupancy rate in the Klang Valley is expected to
Slide 53: Office (Cont'd)
Office (Cont’d) o Sunway Putra Tower’s average occupancy rate declined to 26.7% in 1QFY2016 compared to 76.9% in 1QFY2015 as a result of an anchor tenant that has moved out in December 2014. o The average occupancy rate at Wisma Sunway inched higher to 89.8% in 1QFY2016 compared to 88.3%1 in 1QFY201
Slide 54: 6. Investor Relations
6. Investor Relations Driving values through sustainable growth 54
Slide 55: Unit Price Performance - IPO to 30 September 2015
Unit Price Performance - IPO to 30 September 2015 Unit Price Performance of Sunway REIT versus Benchmarks (8 July 2010 – 30 September 2015) TR/GPR/APREA Composite REIT Index Malaysia 100.0% 87.6% 80.0% 60.0% Sunway REIT 72.2% 40.0% 20.0% FBM KLCI 23.2% 0.0% Jun 2010 Jun 2011 Jun 2012 Jun 2013 Jun 20
Slide 56: Unit Price Performance – FY2016
Unit Price Performance – FY2016 Unit Price Performance of Sunway REIT versus Benchmarks (30 June 2015 – 30 September 2015) 5.0% TR/GPR/APREA Composite REIT Index Malaysia 1.8% 0.0% Jun 2015 Jul 2015 Aug 2015 Sep 2015 Sunway REIT 0.6% -5.0% FBM KLCI -5.0% -10.0% -15.0% Performance Statistics (30 June
Slide 57: Unitholders' Composition
Unitholders’ Composition (as at 30 September 2015) Foreign Retail 14.3% 11.0% Sunway Berhad 37.3% Institutions 51.7% Domestic 85.7% September 2015 June 2015 Q-o-Q Change No of unitholders 8,974 8,683 +291 (+3.4%) Retail unitholders 11.0% 14.9% -3.9% Foreign unitholders 14.3% 19.6% -5.3% Sunway Berha
Slide 58: Comparative Yields for Various Assets
Comparative Yields for Various Assets 8.0% 7.61% 2 7.0% 6.75% 4 6.13% 1 6.0% 5.0% 4.14% 2 4.0% 3.31% 3 3.25% 5 3.0% 2.0% 1.0% 0.0% Note: Sunway REIT M-REITs 10-Year MGS Fixed Deposit EPF Yield OPR 1. Distribution yield based on consensus DPU forecast of 9.5 sen (Source: Bloomberg) 2. Information as
Slide 59: Thank You
THANK YOU Driving values through sustainable growth
Sunway Real Estate Investment Trust — Q1 FY2016 Earnings Presentation on 6ix