Keppel REIT · SGX:K71U
Keppel REIT — Q3 2013 Earnings Presentation
36 slides from Keppel REIT's earnings presentation, Oct 14, 2013
Slide 1: Third Quarter 2013 Financial Results
\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Third Quarter 2013 Financial Results 14 October 2013 1
Slide 2: Important Notice
Important Notice \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// The past performance of Keppel REIT is not necessarily
Slide 3: Growing from Strength to Strength
Growing from Strength to Strength \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Portfolio of ten quality commercial
Slide 4: Growth History
Growth History Office Tower at Old Treasury Building Bugis Junction 275 George 8 Chifley Square, site, Perth Towers Street, Brisbane Sydney Ocean Financial One Raffles Centre Quay Prudential Tower GE Tower 8 Exhibition Street, Melbourne • Increased interest 77 King Street, in OFC to 99.9% • Acquisit
Slide 5: Sterling Property Portfolio
Sterling Property Portfolio Premium office buildings located in the prime CBDs of Singapore and Australia \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ Singapore Properties /////////////////////////////////////////////////////////////////////////////////////////
Slide 6: Assets Located Predominantly in Singapore
Assets Located Predominantly in Singapore \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// 88% of assets in Singapore a
Slide 7: Singapore Portfolio
Singapore Portfolio \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// 100% of Singapore properties located in the prime
Slide 8: Australia Portfolio
Australia Portfolio 5 premium office buildings in the CBDs of \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Sydney,
Slide 9: 3Q 2013 Highlights
\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// 3Q 2013 Highlights Highlights Financial Highlights Capital Management
Slide 10: 3Q 2013 Highlights: Strong and steady performance
3Q 2013 Highlights Strong and steady performance \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ /////////////////////////////////////////////////////////////////////////////////////
Slide 11: No refinancing requirements over the next 24 months
3Q 2013 Highlights \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ No refinancing requirements over the next 24 months ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// \
Slide 12: Six out of eight existing properties are 100% occupied
3Q 2013 Highlights Six out of eight existing properties are 100% occupied \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////
Slide 13: Ocean Financial Centre Phase 2 Completed
Ocean Financial Centre Phase 2 Completed \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Ocean Financial Centre Phase
Slide 14: Income-accretive Acquisition in Melbourne
Income-accretive Acquisition in Melbourne \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// On 1 Aug 2013, completed the a
Slide 15: Financial Highlights
Financial Highlights \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Marina Bay Financial Centre Phase 1 Bugis Junctio
Slide 16: Distributable income up 6.1% y-o-y to $159.1m
Distributable income 6.1% y-o-y to $159.1m \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// YTD Sep 2013 YTD Sep 2012
Slide 17: Distribution Per Unit
Distribution Per Unit \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// 3Q 2013 DPU of 1.97 cents Advanced distribution:
Slide 18: Healthy Balance Sheet
Healthy Balance Sheet \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// As at 30 Sep 2013 As at 30 Jun 2013 Non-current
Slide 19: Capital Management
Capital Management \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// 8 Chifley Square Bugis Junction Towers 19
Slide 20: Proactive Capital Management: No refinancing requirements
Proactive Capital Management No refinancing requirements over the next 24 months \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ /////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////
Slide 21: Proactive Capital Management
Proactive Capital Management \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// All-in interest rate of 2.15% p.a. Interest
Slide 22: Proactive Capital Management: Debt Maturity Profile
Proactive Capital Management \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// As at 30 Sep 2013 Gross Borrowings $3,007
Slide 23: Portfolio Analysis
Portfolio Analysis \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// One Raffles Quay Bugis Junction Towers 23
Slide 24: Strong Portfolio Occupancy of 99.4% as at 3Q 2013
Strong Portfolio Occupancy of 99.4% as at 3Q 2013 \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Portfolio average occu
Slide 25: Stable Lease Portfolio
Stable Lease Portfolio \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Top ten tenants have long WALE of 8.3 years1 Weig
Slide 26: Well-staggered Lease Expiry Profile
Well-staggered Lease Expiry Profile \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Approximately 1.2% of portfolio NLA
Slide 27: Tenants Diversified across Various Business Sectors
Tenants Diversified across Various Business Sectors \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Tenants from a diver
Slide 28: Well-Established Tenant Base
Well-Established Tenant Base \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Top ten tenants account for 43.3% of portfo
Slide 29: Market Review and Outlook
Market Review and Outlook \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// 275 George Street Bugis Junction Towers 29
Slide 30: Office Market
Office Market \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Singapore’s office leasing market is expected to improve o
Slide 31: Economic and Office Market Outlook: Singapore
Singapore \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Singapore’s growth outlook for the whole of 2013 has been revi
Slide 32: Economic and Office Market Outlook: Australia
Australia \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// The RBA cut interest rates in August to 2.5% in a bid to boost
Slide 33: Additional Information
Additional Information \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Bugis Junction Towers Bugis Junction Towers 33
Slide 34: Portfolio Information
Portfolio Information \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// More than 92% of the Singapore portfolio is locate
Slide 35: Portfolio Information
Portfolio Information \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Office Tower to be 8 Exhibition 8 Chifley 77 King
Slide 36: http://www.keppelreit.com
\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// http://www.keppelreit.com For enquiries, please contact Mr. Dale Lai I