CapitaLand Integrated Commercial Trust · SGX:C38U
CapitaLand Integrated Commercial Trust — CapitaLand Mall Trust — Merger or Acquisition (August 2018)
21 slides from CapitaLand Integrated Commercial Trust's merger presentation, Aug 27, 2018
Slide 1: Proposed Acquisition of the Balance 70.0% of the Units in Infinity Mall Trust
CAPITALAND MALL TRUST Singapore’s First & Largest Retail REIT Proposed Acquisition of the Balance 70.0% of the Units in Infinity Mall Trust which holds Westgate 27 August 2018 1 Proposed Acquisition of Westgate *August 2018*
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 ▪ Overview ▪ Rationale for Proposed Acquisition ▪ Acquisition Outlay ▪ Conclusion 3 Proposed Acquisition of Westgate *August 2018*
Slide 4: Overview
4 4 Proposed Acquisition of Westgate *August 2018*
Slide 5: Transaction Overview
Transaction Overview CapitaLand Mall Trust (CMT) currently owns 30.0% of the Units in Infinity Mall Trust (IMT) which holds Westgate CMT to acquire remaining 70.0% of the units in IMT from CMA Singapore Investments (4) Pte. Ltd. and CL JM Pte. Ltd. (wholly owned subsidiaries of CapitaLand Limited) P
Slide 6: Ownership Structure
Ownership Structure AFTER ACQUISITION OF 70.0% EXISTING INTEREST CapitaLand Singapore Limited (CLS) CapitaLand Mall Trust (CMT) Indirectly held through wholly owned subsidiaries 100% CMA Singapore CL JM Pte. Ltd. Investments (4) CMT IMT Pte. Ltd. 20% 50% 30% Infinity Mall Trust (IMT) 6 Proposed Acqu
Slide 7: Property Details
Property Details Description Westgate is the retail component of an integrated retail and office development in Jurong Lake District, Singapore’s up-and-coming second Central Business District. The mall: • Comprises seven levels of retail space (five levels above ground and two basement levels) and
Slide 8: Rationale for Proposed Acquisition
8 Proposed Acquisition of Westgate *August 2018*
Slide 9: Rationale for Proposed Acquisition
Rationale for Proposed Acquisition Increased exposure to the Jurong Lake District with long-term 1 growth potential Redeployment of capital towards higher yielding assets with 2 better fundamentals 3 Strategically located high quality asset 4 Enhance CMT Group portfolio’s resilience and diversificat
Slide 10: Increased Exposure to the Jurong Lake District with Long-term Growth Potential
Increased Exposure to the Jurong Lake District(1) 1 with Long-term Growth Potential ▪ Jurong Lake District (JLD)(1) - Singapore’s planned second central business district expected to accommodate: ➢ 100,000 jobs and 20,000 homes ➢ Attractive street life, network of parks, water features and leisure o
Slide 11: Redeployment of Capital Towards Higher Yielding Assets with Better Fundamentals
Redeployment of Capital Towards Higher 2 Yielding Assets with Better Fundamentals ▪ Opportunity to redeploy capital at a higher property yield of approximately 4.3%, following the sale of Sembawang Shopping Centre ▪ In line with strategy to invest in quality income-producing assets ▪ Rejuvenate and
Slide 12: Strategically Located High Quality Asset
3 Strategically Located High Quality Asset Westgate enjoys high shopper traffic of about 4 million per month and consistently high occupancy rates(1) Westgate is strategically located in the heart of Jurong East Map 1 ▪ Excellent transport connectivity – seamless connection to the Jurong East MRT st
Slide 13: Strategically Located High Quality Asset: Multi-award winning development
3 Strategically Located High Quality Asset Multi-award winning development - recognition for building excellence Green Mark Universal Design Mark Platinum Platinum Building and Construction Building and Construction Authority, Singapore Authority, Singapore 13 Proposed Acquisition of Westgate *Augus
Slide 14: Strategically Located High Quality Asset: Ongoing enhancement works
3 Strategically Located High Quality Asset Ongoing works to enhance shopper experience ▪ Enclosure of selected alfresco F&B outlets with air-conditioning ▪ Improving shopper accessibility into the Mall and from Level 1 to Level 2 Before After: Create New Entrance Point from Taxi After: Install New E
Slide 15: Enhance Portfolio's Resilience and Diversification
Enhance Portfolio’s Resilience and 4 Diversification ▪ Increases exposure of portfolio(1) to necessity Percentage of CMT’s Portfolio(1),(2) (by Gross Revenue) shopping segment from 79.1%(2) to 80.3%(2) based on gross revenue which has 20.9% 19.7% shown resilience over the years Pre- Post- acquisitio
Slide 16: Acquisition Outlay
16 Proposed Acquisition of Westgate *August 2018*
Slide 17: Total Acquisition Outlay for 70.0% interest in IMT
Total Acquisition Outlay for 70.0% interest in IMT Estimates S$ million Purchase Consideration(1) 17.9 Repayment of Unitholders’ Loan owed by 379.7 IMT to the Trustee and the Vendors Bank Loan owed by IMT to certain 392.0 financial institutions(2) Subtotal 789.6 Acquisition Fee(3) 7.9 Professional a
Slide 18: Method of Financing
Method of Financing ▪ Total acquisition outlay may be financed through debt or a combination of debt and equity(1) ▪ Acquisition fee of S$7.9 million is to be paid in the form of Units to the Manager with one year moratorium (1) Does not include the Acquisition Fee, which is to be paid in the form o
Slide 19: Conclusion
19 19 Proposed Acquisition of Westgate *August 2018*
Slide 20: Recap of Rationale for Proposed Acquisition
Recap of Rationale for Proposed Acquisition Increased exposure to the Jurong Lake District with long-term 1 growth potential Redeployment of capital towards higher yielding assets with 2 better fundamentals 3 Strategically located high quality asset 4 Enhance CMT Group portfolio’s resilience and div
Slide 21: Thank you
Thank you For enquiries, please contact: Ms Lo Mun Wah, Vice President, Investor Relations, Direct: (65) 6713 3667 Email: lo.munwah@capitaland.com CapitaLand Mall Trust Management Limited (http://www.cmt.com.sg) 168 Robinson Road, #30-01 Capital Tower, Singapore 068912 21 Tel: (65)Acquisition Propos
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