Bursa Malaysia Bhd. · MYX:BURSA
Bursa Malaysia Bhd — CapitaMalls Malaysia Trust — Q4 2010 Earnings Presentation
29 slides from Bursa Malaysia Bhd's earnings presentation, Jan 21, 2011
Slide 1: CapitaMalls Malaysia Trust 4Q 2010 Financial Results
CAPITAMALLS MALAYSIA TRUST Malaysia’s Largest “Pure-Play” Shopping Mall REIT 4Q 2010 Financial Results 21 January 2011 CapitaMalls Malaysia Trust 4Q 2010 Financial Results *21 January 2011*
Slide 2: Disclaimer
Disclaimer The information in this presentation is qualified in its entirety by, and is subject to, the more detailed information set out in the Prospectus dated 28 June 2010 registered with the Securities Commission of Malaysia and any subsequent announcements released by CMMT thereafter. The past
Slide 3: Contents
Contents • Key Highlights • Financial Results • Portfolio Update • Improvement Works 3 CapitaMalls Malaysia Trust 4Q 2010 Financial Results *21 January 2011*
Slide 4: Key Highlights
Key Highlights 4 CapitaMalls Malaysia Trust 4Q 2010 Financial Results *21 January 2011*
Slide 5: 2010 in Review
2010 in Review • Listing of CMMT on Bursa Malaysia on 16 July 2010 – Malaysia’s largest “pure-play” shopping mall REIT – Added liquidity to REIT market in Malaysia • Strong trading performance since listing – CMMT unit price increased 14%1 – 7.4% distribution yield2 for unitholders who bought CMMT a
Slide 6: 2011 Outlook
2011 Outlook • Malaysia’s GDP projected to grow 5.3% in 20111 – Higher than projected 4.2% growth in world economy in 20111 – Domestic demand as driver of growth • Inflation to trend upwards but remain manageable – CPI estimated to increase 2.1% in 20112 • Retail sales expected to grow 5.0% in 20113
Slide 7: 4Q 2010 DPU exceeds forecast by 3.4%
4Q 2010 DPU exceeds forecast by 3.4% 4Q 2010 Financial Period 2010 1 Actual Forecast 2 Change Actual 1 Forecast 2 Change (Unaudited) % (Unaudited) % Distributable income (RM '000) 24,818 24,062 3.1 45,910 45,000 2.0 DPU 3 (sen) 1.84 1.78 3.4 3.40 3.33 2.1 DPU (sen) - annualised 7.29 7.13 2.3 7.26 7.
Slide 8: Distribution Details
Distribution Details Distribution period 14 July to 31 December 2010 Distribution per unit (sen) 3.40 Distribution timetable Notice of book closure date 21 January 2011 Last day of trading on cum basis 2 February 2011 Ex-date 7 February 2011 Book closure date 9 February 2011 Distribution payment dat
Slide 9: Attractive Yield versus Other Investments
Attractive Yield versus Other Investments 6.5% 5.7% 4.0% 3.0% 3.2% 1 CMMT 2010 Yield 12-month 10 year KLCI EPF FD rate Malaysia dividend dividend Govt. yield yield Bond (2010) (2009) Source: Bloomberg (30 December 2010) 1 Based on annualised distribution per unit of 7.26 sen for the period 1 July to
Slide 10: Financial Results
Financial Results 10 CapitaMalls Malaysia Trust 4Q 2010 Financial Results *21 January 2011*
Slide 11: Distribution Statement - 4Q 2010
Distribution Statement - 4Q 2010 4Q 2010 1 2 Variance Distribution Statement Actual Forecast (RM '000) (RM '000) (%) Gross revenue 51,251 50,554 1.4 Less: Property operating expenses (15,733) (15,349) 2.5 Net property income 35,518 35,205 0.9 Interest income 666 129 416.3 Fair value gain of investme
Slide 12: Distribution Statement – Financial Period Ended December 2010
Distribution Statement – Financial Period Ended 31 December 2010 Financial Period 2010 1 2 Variance Distribution Statement Actual Forecast (RM '000) (RM '000) (%) Gross revenue 94,636 93,936 0.7 Less: Property operating expenses (28,811) (28,447) 1.3 Net property income 65,825 65,489 0.5 Interest in
Slide 13: 4Q 2010 Gross Revenue – Delivering Results
4Q 2010 Gross Revenue – Delivering Results 51,251 CMMT Portfolio 50,554 19,592 Gurney Plaza 19,346 4Q 2010 Actual 17,244 Sungei Wang Plaza 4Q 2010 Forecast 17,089 14,415 The Mines 14,119 0 20,000 40,000 60,000 RM '000 13 CapitaMalls Malaysia Trust 4Q 2010 Financial Results *21 January 2011*
Slide 14: 4Q 2010 Property Operating Expense – Delivering Results
4Q 2010 Property Operating Expense – Delivering Results 15,733 CMMT Portfolio 15,349 6,042 Gurney Plaza 5,893 4Q 2010 Actual 3,948 Sungei Wang Plaza 4Q 2010 Forecast 3,945 5,743 The Mines 5,511 0 5,000 10,000 15,000 20,000 RM '000 14 CapitaMalls Malaysia Trust 4Q 2010 Financial Results *21 January 2
Slide 15: 4Q 2010 Net Property Income – Delivering Results
4Q 2010 Net Property Income – Delivering Results 35,518 CMMT Portfolio 35,205 13,550 Gurney Plaza 13,453 4Q 2010 Actual 13,296 Sungei Wang Plaza 4Q 2010 Forecast 13,144 8,672 The Mines 8,608 0 10,000 20,000 30,000 40,000 RM '000 15 CapitaMalls Malaysia Trust 4Q 2010 Financial Results *21 January 201
Slide 16: Debt Maturity Profile
Debt Maturity Profile (as at 31 December 2010) No near term re-financing risk 500 Loan Profile Debt Maturity Profile 450 450 400 350 300 RM million 300 Floating 250 30% 200 150 Fixed 70% 100 50 0 2010 2015 2017 16 CapitaMalls Malaysia Trust 4Q 2010 Financial Results *21 January 2011*
Slide 17: Healthy Balance Sheet
Healthy Balance Sheet As at 31 Dec 2010 RM million Non-current Assets 2,144 NAV (RM million) Current Assets 134 - before income distribution 1,435 Total Assets 2,278 - after income distribution 1,389 Current Liabilities 75 Non-current Liabilities 768 NAV per unit (RM) Total Liabilities 843 - before
Slide 18: Valuation and Property Yield
Valuation and Property Yield 1 2 3 4 CMMT Portfolio Acquisition costs Valuation Valuation Increase / Property yield Cap rate 14 Jul 2010 14 Jul 2010 31 Dec 2010 (Decrease) Forecast Actual 31 Dec 2010 RM 'mil RM 'mil RM 'mil RM 'mil Gurney Plaza 800 850 856 6 6.4% 6.3% 7.0% Sungei Wang Plaza 724 740
Slide 19: Portfolio Update
Portfolio Update 19 CapitaMalls Malaysia Trust 4Q 2010 Financial Results *21 January 2011*
Slide 20: Portfolio Shopper Traffic Grew 16%
Portfolio Shopper Traffic Grew 16% 15,000 13,113 Shopper Traffic (‘000) 12,000 11,287 9,000 6,000 +16% 3,000 0 4Q 2009 4Q 2010 20 CapitaMalls Malaysia Trust 4Q 2010 Financial Results *21 January 2011*
Slide 21: Portfolio Vehicular Traffic Grew 2%
Portfolio Vehicular Traffic Grew 2% 2,000 1,750 Vehicular Traffic (‘000) 1,450 1,477 1,500 1,250 1,000 + 2% 750 500 250 0 4Q 2009 4Q 2010 21 CapitaMalls Malaysia Trust 4Q 2010 Financial Results *21 January 2011*
Slide 22: Positive Rental Reversions
Positive Rental Reversions From 1 Jan 2010 to 31 Dec 2010 (Excluding Newly Created and Reconfigured Units) No. of Net Lettable Area Increase in Renewals Retention Current Rental Property Area Percentage (plus new Rate vs Preceding leases) (sq ft) of Mall Rental 1 Gurney Plaza 88 97.8% 186,380 26.4%
Slide 23: Portfolio Lease Expiry Profile (By Year)
Portfolio Lease Expiry Profile (By Year) Monthly EXPIRY PROFILE Net Lettable Gross As of Leases Area Rental 31 Dec 2010 Income 2011 376 36.1% 41.6% 39.9% 2012 389 37.3% 32.4% 30.7% 2013 onwards 277 26.6% 26.0% 29.4% Total 1,042 100%6 100% 100% 23 CapitaMalls Malaysia Trust 4Q 2010 Financial Results
Slide 24: Occupancy Rate Close to 100%
Occupancy Rate Close to 100% 3Q 2010 4Q 2010 As at 30 Sep 10 As at 31 Dec 10 Gurney Plaza 98.0% 98.2% Sungei Wang Plaza 98.7% 98.3% The Mines 98.3% 98.6% CMMT Portfolio 98.3% 98.3% 24 CapitaMalls Malaysia Trust 4Q 2010 Financial Results *21 January 2011*
Slide 25: Improvement Works
Improvement Works 25 CapitaMalls Malaysia Trust 4Q 2010 Financial Results *21 January 2011*
Slide 26: Sungei Wang Plaza – Upgrading of Car park
Sungei Wang Plaza – Upgrading of Car park • Installation of new autopay parking machines New autopay parking machines Central cashier supplements autopay machines • Upgrading of car park exhaust system • Installation of parking guiding system • Resurfacing of car park flooring with epoxy coating • U
Slide 27: The Mines - Upgrading of Corridor Tiles
The Mines - Upgrading of Corridor Tiles • Corridor tiles upgraded to integrate interior design of extension block and original shopping mall • Improve ambience and create delightful shopping experience for shoppers Before After 27 CapitaMalls Malaysia Trust 4Q 2010 Financial Results *21 January 2011
Slide 28: Gurney Plaza and The Mines: Upgrading of Chillers
Gurney Plaza and The Mines: Upgrading of Chillers • Installation of new environmentally friendly chillers New chillers at Gurney Plaza New chillers at The Mines 28 CapitaMalls Malaysia Trust 4Q 2010 Financial Results *21 January 2011*
Slide 29: Thank You
Thank You For enquiries, please contact: Lee Hui Yeow Tel: 603 – 2279 9805 Email : lee.huiyeow@capitaland.com Low Peck Chen Tel: 603 – 2279 9818 Email: low.peckchen@capitaland.com Fax: 603 – 2279 9889 http://www.capitamallsmalaysia.com 29 CapitaMalls Malaysia Trust 4Q 2010 Financial Results *21 Janu
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