Capitaland Ascendas Reit · SGX:A17U
Capitaland Ascendas Reit — Ascendas Real Estate Investment Trust (A-REIT) — Shareholder Meeting (June 2012)
29 slides from Capitaland Ascendas Reit's shareholder meeting presentation, Jun 28, 2012
Slide 1: Review of FY11/12 Performance - Annual General Meeting 2012
Business & Light Industrial Warehouse Science Park Retail Facilities Logistics and Hi-Tech Industrial Distribution Review of FY11/12 Performance Annual General Meeting 2012 Agenda • Key Highlights for FY11/12 • Financial Highlights • Investment Highlights • Capital & Risk Management • Proactive Asse
Slide 2: Key Highlights for FY11/12
Key Highlights for FY11/12 • Financial Performance Gross revenue 12.4% y-o-y to S$503.3 million. NPI 8.5% y-o-y to S$368.3 million Total amount available for distribution 13.6% y-o-y to S$281.7 million DPU of 13.56 cents, 2.5% y-o-y despite 11.2% increase in number of units outstanding Net revaluati
Slide 3: A-REIT's Steady Growth since 2002
Agenda • Key Highlights • Financial Highlights • Investment Highlights • Capital & Risk Management • Proactive Asset Management • Outlook Managed by Ascendas Funds Management (S) Ltd.. 5 A-REIT’s Steady Growth since 2002 • Portfolio : 8 properties at listing 102 properties as at 31 Mar 2012 • AUM fr
Slide 4: DPU Performance since listing
DPU Performance since listing DPU achieved a 6.6% CAGR despite the unit base grew 383% from 545,000 units at IPO to 2,085 m units as at 31 Mar 2012 S$’000 cents 16.00 15.18 2,500.0 14.13 13.23 13.56 14.00 12.75 13.10 11.68 2,000.0 12.00 9.56 10.00 1,500.0 8.16 7.63 8.00 2,085.1 1,871.2 1874.3 1,683.
Slide 5: Investment Highlights
Agenda • Key Highlights • Financial Highlights • Investment Highlights • Capital & Risk Management • Proactive Asset Management • Outlook Managed by Ascendas Funds Management (S) Ltd.. 9 Investment Highlights • Disciplined & Yield-accretive Investments Total FY11/12 committed investments of S$946.4
Slide 6: Acquisition of income producing properties
Investment Highlights Acquisition of income producing properties • 7 properties totalling S$545.4 million Segment Acquisitions Value Status (S$m) Business Park Nordic European Centre 121.6 Completed in Jul 2011 Business Park Ascendas Z-Link in Beijing, China 61.8 Completed in Oct 2011 Business Park
Slide 7: Acquisition Highlights
Acquisition Highlights Name Corporation Place Segment Hi-tech Industrial Address 2 Corporation Road Description Easily accessible via the Ayer Rajah Expressway. Located at the junction of Jalan Ahmad Ibrahim, Corporation Place is a 7-storey multi-tenanted hi- spec industrial building with amenities
Slide 8: A-REIT's China Strategy
Acquisition Highlights: Ascendas Z-Link in Z-Park Ascendas Z-Link In Beijing, China • Located in Zhongguancun Software Park (Z-Park) (中关村软件园) • Z-Park has two construction zones, compriising over 292 hectares of land • Over 180 resident companies with nearly 15,000 professionals. • About five minute
Slide 9: Development projects
Investment Highlights Development projects • Completed built-to-suit logistics facility for FedEx Singapore • New projects to enhance A-REIT’s footprint in one-north region Segment Development Project Est. Revaluation Expected Expected Cost as at Mar Commence Completion (S$ m) 2012 ment (S$ m) Logis
Slide 10: Development Highlights
Development Highlights: FedEx Singapore Regional Hub at 90 Alps Avenue • Located at the eastern part of Singapore, in close proximity to the Airport Logistics Park of Singapore • A part 1-storey, part 2-storey air cargo express facility • GFA: 26,277 sqm • 100% committed by FedEx for 10 years with a
Slide 11: Development Highlights and Asset Enhancement projects
Development Highlights: Business Park development at Fusionopolis • Located within the one-north masterplan area in the central part of Singapore. Easily accessible via major expressways and proximity to the one- north Mass Rapid Transit station • Development of 2 blocks of 6-storey business park an
Slide 12: Completed Asset Enhancement
Completed Asset Enhancement: Techview • Reconfigured floor plates to create an internal courtyard on upper levels of the building to its enhance attractiveness and value • Property will benefit from the planned DTL3 MRT Station exit within its compound when the station is operational in 2017 After a
Slide 13: Asset Enhancement: Toh Guan Road
Asset Enhancement: 10 Toh Guan Road Artist impression • Sited within the new Jurong Lake District regional centre; within walking distance to Jurong East MRT station and major retail malls • Reposition property for higher value usage over two phases • Phase 1 completed and showroom is fully occupied
Slide 14: Asset Enhancement: Techplace II
Asset Enhancement: Techplace II • Strategically located in Ang Mo Kio and easily accessible to the Central Expressway and MRT station • Property currently comprises a total of 6 blocks of flatted factory buildings and a canteen block • Developing a new factory block of about 24,016 sqm with ancillar
Slide 15: Proposed Divestment: Goldin Logistics Hub
Proposed Divestment: Goldin Logistics Hub • Located at 6 Pioneer Walk within the Jurong Industrial Estate • 2-storey warehouse with a ramp-up driveway and a 4-storey ancillary office as well as a single storey workshop and a container yard • Gross floor area of 20,094 sqm • Remaining land tenure of
Slide 16: Healthy Capital Structure
Healthy Capital Structure • Strong balance sheet with 32.1% 450 S$’m Immediately aggregate leverage after equity 400 swapped fund raising in March 2011 into S$ upon Issue price of S$1.99 (6.0% above 350 issuance to eliminate NAV) forex 300 exposure Aggregate leverage expected to increase to 34.5% af
Slide 17: Well Diversified Portfolio
Well Diversified Portfolio - by Lease Tenure Single- Typically 3-year rolling tenanted leases Buildings 38% Multi- tenanted Buildings 62% Long term leases typically with periodic rental escalation, of which 32.2% of these leases are pegged to CPI Mix of Single-tenanted vs Multi-tenanted Buildings by
Slide 18: Occupancy History: Stable through the cycles
Occupancy History: Stable through the cycles 96.6% 98.4% 97.8% 96.0% 96.4% 100.0% 94.1% 95.0% 95.7% 80.0 Singapore Puchasing Manager's Index (PMI) 88.8% 82.5% 96.4% 95.3% 91.4% 93.7% 91.2% 92.1% 92.8% 89.0% 70.0 80.0% 85.1% 82.5% 60.0 60.0% 53.4 49.7 50.8 49.6 51.1 51.1 50.1 50.2 49.4 47.1 50.0 40.0
Slide 19: Tenants' Industry Diversification
Lease Expiry Profile as at 31 May 2012 • Weighted average lease to expiry of 3.9 years • About 11.0% due for renewal in the balance of FY12/13. Lease expiry is well A-REIT China, spread, extending beyond 2025 2.2% Light Science Industrial, Parks, 19.3% 19.3% 30% Business 25.9% Logistics, Parks, 24.0
Slide 20: Quality and Diversified Tenant Base
Low exposure to conventional manufacturing Tenants’ business activities by net lettable area • 20.3% of NLA occupied by tenants engaged in conventional manufacturing activities Manufacturing • Manufacturing activities include food 20.3% & beverages, aeronautical auxiliary Manufacturing equipment, pr
Slide 21: Segmental Rental Performance
Diversified Portfolio No single property accounts for more than 4.5% of A-REIT’s monthly gross revenue 1, 3, 5 Changi Business Park Crescent, 4.5% C&P Logistic Hub, 3.7% TelePark, 3.4% Others, 33.1% Neuros, 3.5% Corporation Place, 3.3% Kim Chuan Telecommunication Complex , 3.1% TechPoint, 2.9% 31 In
Slide 22: In-place rent for space due for renewal
In-place rent for space due for renewal in FY12/13 & FY13/14 • Current market rental rate is between 16% and 32% higher than the weighted average passing rental for the area due for renewal in FY12/13 Left Axis Right Axis Managed by Ascendas Funds Management (S) Ltd.. 43 Agenda • Key Highlights • Fi
Slide 23: Market Outlook
Market Outlook • According to Ministry of Trade & Industry’s (MTI), Singapore’s economy expanded by 1.6% y-o-y in 1Q 2012 largely due to an upturn in the manufacturing sector, posting an expansion of 14.7% compared to the 11.1% contraction in the prior quarter. GDP forecast is maintained at between
Slide 24: A-REIT's strengths
A-REIT's strengths • Downside protection in earnings • Stable portfolio with 86.2% of portfolio revenue committed for the FY and a portfolio average lease to expiry of about 4 years. • Mix of long term and short term leases provide earnings stability Long term leases have a weighted average lease to
Slide 25: A-REIT's strategies
A-REIT's strategies Total returns Predictable income Capital stability Proactive and dedicated Outcome Stability Growth manager with track record Prudent Proactive Strategies Value-Adding Capital & Risk Asset Investments Management Management Fund Manager: Fund Manager: Perfor- Property Manager: Asc
Slide 26: Members of the Panel
Members of the Panel 1. Mr. Koh Soo Keong (Chairman, Independent Director) 2. Ms Chong Siak Ching (Vice Chairman, Non-executive Director) 3. Mr. Joseph Chen, (Independent Director, Chairman of Audit Committee) 4. Mr. Chia Kim Huat (Independent Director) 5. Mr. Henry Tan (Independent Director) 6. Mrs
Slide 27: Resolutions 1 and 2
Resolution 1 (Ordinary Resolution) Ordinary Business To receive and adopt: • the Report of HSBC Institutional Trust Services (Singapore) Limited (as Trustee of A-REIT), • the Statement by Ascendas Funds Management (S) Limited (as Manager of A-REIT), and • the Audited Financial Statements of A-REIT f
Slide 28: Resolution 3 and Q&A
Resolution 3 (Ordinary Resolution) Special Business To authorise the Manager or, as the case may be, the Trustee, to issue Units and to make or grant instruments convertible into Units and issue Units pursuant to such instruments Such units must not, in aggregate, exceed 50% of the total number of i
Slide 29: Thank you - Important Notice
Thank you Important Notice This presentation has been prepared by Ascendas Funds Management (S) Limited as Manager for Ascendas Real Estate Investment Trust. The details in this presentation provide general information only. It is not intended as investment or financial advice and must not be relied
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