CapitaLand Integrated Commercial Trust · SGX:C38U
CapitaLand Integrated Commercial Trust — CapitaMall Trust — Shareholder Meeting (April 2015)
38 slides from CapitaLand Integrated Commercial Trust's shareholder meeting presentation, Apr 16, 2015
Slide 1: CapitaMall Trust Annual General Meeting
Photo Credit: Kwek Swee Seng, Singapore CAPITAMALL TRUST Singapore’s First & Largest REIT Annual General Meeting 16 April Annual General 2015*April 2015* Meeting
Slide 2: Disclaimer
Disclaimer This presentation may contain forward-looking statements that involve assumptions, risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumpti
Slide 3: Contents
Contents Year in Review (2014) Key Financial Highlights & Capital Management Portfolio Updates Asset Enhancement Initiatives (AEIs) Portfolio Management Tenant Engagement & Tenant-Centric Initiatives Engaging our Shoppers Awards and Corporate Social Responsibility Looking Forward 3
Slide 4: Year in Review (2014)
Year in Review (2014) Annual General Meeting *April 2015* Bugis+ Andre Yeoh, CapitaLand 'Building People' Photography Competition 2014
Slide 5: Leading with Confidence (2014)
Leading with Confidence (2014) 1 (1) (1) Total Deposited Property refers to the total assets in respect of CMT, CMT’s 40.0% interest in RCS Trust, CMT’s 30.0% interest in Infinity Mall Trust and Infinity Office Trust (collectively, the Infinity Trusts). 5 Annual General Meeting *April 2015*
Slide 6: FY 2014 Distributable Income Up 5.4% Y-o-Y
FY 2014 Distributable Income Up 5.4% Y-o-Y Distributable Income (S$ mil) (1) Distributable Income Distribution Per Unit (DPU) 375.3 (1) 356.2 (2) S$375.3 10.84 million cents 5.4% Y-o-Y 5.6% Y-o-Y FY 2014 FY 2013 DPU (cents) Annualised DPU Annualised Distribution Yield 10.84 (3) 10.27 10.84 5.31 cent
Slide 7: Consistent Returns Over Time
Consistent Returns Over Time Gross Revenue (S$ million) (1) 774.2 729.2 661.6 630.6 581.1 115.3 91.6 88.4 637.6 658.9 86.8 81.3 573.2 543.8 499.8 2010 2011 2012 2013 2014 ( 2) CMT Joint v entures (For information only) Distributable Income (S$ million) Distribution Per Unit (cents) 356.2 375.3 10.84
Slide 8: Key Financial Highlights & Capital Management
Key Financial Highlights & Xin Yi Chua, CapitaLand 'Building People' Photography Competition 2014 Capital Management Annual General Meeting *April 2015* Raffles City Singapore
Slide 9: Proactive Capital Management
Proactive Capital Management Tapped Different Sources of Funding Objectives Debt Capital Market Activities in 2014 Issue Date Debt instrument Tenure Interest Rate Diversify sources of Feb 2014 ¥5.0 billion MTN 7-year 3.148% p.a. (1) funding Feb 2014 S$350.0 million Retail Bonds 7-year 3.08% p.a. Aug
Slide 10: Debt Maturity Profile as at 31 December 2014
(1) Debt Maturity Profile as at 31 December 2014 (2) 985.1 1000 100.0 900 Funding 800 partially 408.3 raised for 700 refinancing 600 S$ million 699.5 500 412.0 450.0 412.0 400 12.0 (4) 80.0 80.0 (5) (6) 300 505.2 (7) 226.0 300.0 350.0 200 100.0 320.0 (6) 320.0 250.0 (11) 100 185.6 (3) 157.6 (8) 190.
Slide 11: Key Financial Indicators
(1) Key Financial Indicators As at As at 31 December 2014 31 December 2013 Unencumbered Assets as % of Total Assets 100.0% 100.0% Aggregate Leverage (2,3) 33.8% 35.3% Net Debt / EBITDA (4,6) 5.1 x 4.9 x Interest Coverage (5,6) 4.5 x 5.0 x Average Term to Maturity (years) 4.7 3.8 Average Cost of Debt
Slide 12: Healthy Balance Sheet
Healthy Balance Sheet As at 31 December 2014 S$’000 Non-current Assets 8,703,657 Net Asset Value/Unit S$1.81 Current Assets 1,154,650 (as at 31 December 2014) Total Assets 9,858,307 Adjusted Net Asset Value/Unit S$1.79 (excluding distributable income) Current Liabilities 1,015,527 Non-current Liabil
Slide 13: Portfolio Updates
Portfolio Updates Annual General Meeting *April 2015* Plaza Singapura
Slide 14: Shopper Traffic and Tenants' Sales
Shopper Traffic and Tenants’ Sales Shopper Traffic and Tenants’ Sales (psf per month) have improved in FY 2014 (1) YoY % Change -0.5 -0.9 -1.0 -1.5 -1.5 -1.9 -2.0 -1.9 -2.0 -2.5 -3.0 -3.0 -3.7 -3.5 -4.0 -4.0 -4.5 1Q 2014 1H 2014 YTD Sep 2014 FY 2014 Shopper Traffic Tenants' Sales psf (1) For compara
Slide 15: Positive Rental Reversions
Positive Rental Reversions From 1 January to 31 December 2014 (Excluding Newly Created and Reconfigured Units) Net Lettable Area Increase in Current Rental Rates vs Preceding Rental No. of Renewals / Retention Percentage of Rates Property New Leases (for Rate Area Mall (typically committed three Ret
Slide 16: High Occupancy Maintained
High Occupancy Maintained As at 31 December , % 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 (%) Tampines Mall 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 99.5 Junction 8 100.0 100.0 100.0 100.0 100.0 100.0 100.0 99.6 99.4 100.0 Funan DigitaLife Mall 99.4 99.6 99.7 99.8 99.3 100.0 100
Slide 17: Asset Enhancement Initiatives (AEIs)
Asset Enhancement Initiatives (AEIs) Jhon Tolentino, CapitaLand 'Building People' Photography Competition 2014 Annual General Meeting *April 2015* JCube
Slide 18: JCube
JCube Reconfiguration of 25,000 sq ft of space on Level 2 J.Avenue Opened progressively from September 2014 Vibrant street shopping ambience with 85 shops 18 Annual General Meeting *April 2015*
Slide 19: IMM Building – Phase 2
IMM Building – Phase 2 Enhanced shopping experience More outlet stores Setback shop fronts New void to improve 2nd Storey Plan visibility 19 Annual General Meeting *April 2015*
Slide 20: Bukit Panjang Plaza
Bukit Panjang Plaza Completion of F&B block On-going AEI works • Reconfiguration of space (Level 3 and the main entrance at Level 2) • Relocation of roof garden from Level 2 to Level 4 • Rejuvenation works (fresh facade, replacement of skylight, upgrading of single file escalators) Value creation •
Slide 21: Tampines Mall
Tampines Mall On-going AEI works Modern facade Additional leasable Upgraded covered walkway BEFORE AFTER space on Level 5 (1) from MRT station (1) Target completion date : 4Q 2015 Value creation • Capital Expenditure (2): S$36.00 million • Incremental Gross Revenue p.a. (3): S$3.4 million • Incremen
Slide 22: Portfolio Management
Portfolio Management Annual General Meeting *April 2015* Westgate Jeffrey Calayo, CapitaLand 'Building People' Photography Competition 2014
Slide 23: Divestment of Westgate Tower
Divestment of Westgate Tower • Divested Westgate Tower for S$579.4 million in January 2014 (CMT’s 30.0% share is S$173.8 million) Credit to Benoy Ltd • Obtained temporary occupation permit on 9 October 2014 • Net gain of S$47.5 million (based on CMT’s 30.0% stake) Westgate Tower 23 Annual General Me
Slide 24: Tenant Engagement & Tenant-Centric Initiatives
Tenant Engagement & Chan W ai Meng, CapitaLand 'Building People' Photography Competition 2014 Tenant-Centric Initiatives Annual General Meeting *April 2015* The Atrium@Orchard
Slide 25: Biz+ Series Programmes 2014
Biz+ Series Programmes (1) 2014 The Power of Retail Technology for Turning Online Buzz to Business Viability in the Shopper Insights Greater Productivity Onsite Sales Disruptive Retail Age “CMA to share with “I t ruly enjoyed t he seminars. They CEO Breakfast gave me a lot of room for t hought Round
Slide 26: Tenant-Centric Initiative
Tenant-Centric Initiative Central dishwashing Benefits Enhance productivity and redeploy employees to core business M inimise disruption due to absenteeism Better ability to manage increase in sales volume Cost savings in utility, machinery, etc. Close proximity of centralised dishwashing
Slide 27: Engaging Our Shoppers
Engaging Our Shoppers Annual General Meeting *April 2015* Plaza Singapura
Slide 28: CapitaVoucher
CapitaVoucher Drive incremental footfall and sales Annual Sales (S$ ‘mil) 59.2 51.1 33.5 28.2 22.0 13.4 2009 2010 2011 2012 2013 2014 Over 2,000 participating stores. At all CMT malls. 28 Annual General Meeting *April 2015*
Slide 29: CapitaCard
CapitaCard (1) Our co-brand loyalty card programme aims to retain and encourage repeat shopper spending in our malls Card spend (S$ ‘mil) No. of members (‘000) 325.6 292 294.0 267 245.0 230 208.0 192 194.1 180.9 168 162.2 142 118.1 118 92 42.6 58 2006 2007 2008 2009 2010 2011 2012 2013 2014 2006 200
Slide 30: CAPITASTAR
CAPITASTAR (1) Generate in-depth shopper insights 700 600 654 No. of Members ('000) 500 476 400 300 Launched on 200 Launched on 3 October 2014 1 February 2015 183 100 0 2012 2013 2014 (1) CAPITASTAR, our card-less rewards programme that allows members to enjoy benefits on top of all existing rewards
Slide 31: Shopper-Centric Initiatives
Shopper-Centric Initiatives Interactive technology Social media walls at Westgate and JCube Digital game kiosks at Westgate Digital game kiosks at JCube CK Jeans pre-opening Implementation of free Wi-Fi in our malls ‘Take It Myself’ publicity campaign (T.I.M) Machine Currently 7 malls with Wi-Fi: We
Slide 32: Awards and Corporate Social Responsibility
Awards and Corporate Social Responsibility Annual General Meeting *April 2015* My Schoolbag 2014
Slide 33: Green Recognition
Green Recognition Green Awards for 11 Shopping Malls Bugis Junction Westgate Bugis+ Junction 8 BCA Green Mark Platinum BCA Green Mark Platinum BCA Green Mark Platinum BCA Green Mark Platinum Tampines Mall Bukit Panjang Plaza Plaza Singapura Lot One Shoppers’ Mall BCA Green Mark Gold BCA
Slide 34: Corporate Governance Awards
Corporate Governance Awards Securities Investors Association (Singapore) Investors’ Choice Awards 2014 •Winner, Most Transparent Company Award (REITs & Business Trusts Category) •Winner, Singapore Corporate Governance Award (REITs & Business Trusts Category) IR Magazine South East Asia Awards 2014 •
Slide 35: Community Involvement
Community Involvement Heritage & Arts My Schoolbag Programme Care for Animals Health and Well-being Youth Support 35 Annual General Meeting *April 2015*
Slide 36: Looking Forward
Looking Forward Annual General Meeting *April 2015* Clarke Quay Lim King Chuan, CapitaLand 'Building People' Photography Competition 2014
Slide 37: Looking Forward
Looking Forward Photo Credit: Jeffrey Calayo, Singapore Active lease management Bugis Junction Asset enhancement initiatives Artist’s impression of Facade of Tampines Mall Photo Credit: Koh Meng Hua, Singapore Explore new opportunities • Acquisitions Westgate • Greenfield developments 37 Annual Gene
Slide 38: Thank you
Photo Credit: Kwek Swee Seng, Singapore Thank you For enquiries, please contact: Ms Audrey Tan, Inv estor Relations, Direct: (65) 6713 1507 Email: audrey.tan@capitaland.com CapitaMall Trust Management Limited (http://www.capitamall.com) 168 Robinson Road, #30-01 Capital Tower, Singapore 068912 Tel: