CapitaLand Integrated Commercial Trust · SGX:C38U

CapitaLand Integrated Commercial Trust — CapitaLand Mall Trust — Merger or Acquisition (July 2015)

24 slides from CapitaLand Integrated Commercial Trust's merger presentation, Jul 14, 2015

  1. Slide 1: Proposed Acquisition of Bedok Mall

    Photo Credit: Kwek Swee Seng, Singapore Photo Credit: Kwek Swee Seng, Singapore CAPITALAND MALL TRUST Singapore’s First & Largest REIT Proposed Acquisition of Bedok Mall Acquiring All Units in Brilliance Mall Trust 14 July 2015 Proposed Acquisition of Bedok Mall *July 2015*

  2. 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

  3. Slide 3: Proposed Acquisition of Bedok Mall *July 2015*

    Proposed Acquisition of Bedok Mall *July 2015* 3

  4. Slide 4: Highlights for Bedok Mall

    Highlights for Bedok Mall Retail-Residential-Transport Hub Development 4-storey shopping mall with 583 unit condominium, Bedok Residences Bedok Mall with more than 200 shops NLA: 222,464 sq ft – Necessities, F&B, Lifestyle, Fashion Largest estate in Singapore (in terms of population) Property yield

  5. Slide 5: Bedok Mall

    Bedok Mall Site Area 268,045 sq ft and subterranean space of 2,271 sq ft Gross Floor Area 335,573 sq ft Net Lettable Area 222,464 sq ft Car Park Lots 265 Number of leases 201 Land Tenure 99 years lease with effect from 21 November 2011 Committed 99.3% Occupancy 311 New Upper Changi Road Average shop

  6. Slide 6: Location Map of Bedok Mall

    Location Map of Bedok Mall Proposed Acquisition of Bedok Mall *July 2015* 6

  7. Slide 7: Demographics at Bedok

    Demographics at Bedok Higher Potential Spending Supported by Large Population with a Relatively Higher Income Top 10 Largest Estate in Singapore Distribution of Population by Monthly Income Bracket (1) Resident Planning Area Population National Average Bedok 294,519 Jurong West 267,524 Tampines 261,

  8. Slide 8: Total Acquisition Outlay

    Total Acquisition Outlay S$’million (est.) Purchase Consideration (1) 180.0 Approx. S$464.0 million payable to vendors through Repayment of existing unitholders’ 284.0 consideration units and cash loan owed by Brilliance Mall Trust (BMT) S$’million Repayment of bank loan owed by 319.1 Agreed 780.0 B

  9. Slide 9: Transaction Overview

    Transaction Overview Existing Holding Structure New Holding Structure CMA Singapore Brilliance Investments (3) Residential CMT Pte. Ltd. Pte. Ltd. 50% 50% 100% Brilliance Mall Trust Brilliance Mall Trust Proposed Acquisition of Bedok Mall *July 2015*

  10. Slide 10: Sectional Plan

    Sectional Plan 2 Storey Main Trade Categories Level 2 F&B Level 1 Fashion, Jewellery, F&B, Services Basement 1 Fashion, IT, Electronics, Home, Gifts, Causal Dining Basement 2 Books & Stationery, Services, Convenience, Supermarket Proposed Acquisition of Bedok Mall *July 2015* 10

  11. Slide 11: Proposed Acquisition of Bedok Mall *July 2015*

    Proposed Acquisition of Bedok Mall *July 2015* 11

  12. Slide 12: Rationale for the Acquisition

    Rationale for the Acquisition 1 In line with CMT’s investment strategy 2 Broadens CMT’s asset base with increased exposure to the necessity shopping segment 3 Enables CMT to capitalise on the competitive strengths of Bedok Mall and its location to strengthen its portfolio 4 Revenue diversification f

  13. Slide 13: In Line with CMT's Investment Strategy

    In Line with CMT’s Investment Strategy  CMT’s principal strategy of investing in quality income-producing assets which are used, or predominantly used, for retail purposes primarily in Singapore  Property yield of approximately 5.1% , is (1) in line with CMT’s distribution yield  The acquisition

  14. Slide 14: Broadens CMT's Asset Base with Increased Exposure to Necessity Shopping Segment

    Broadens CMT’s Asset Base with Increased Exposure to Necessity Shopping Segment Further strengthen CMT’s position as the largest real estate investment trust in Singapore (1) Growth in the size of the total deposited property of CMT S$11.0 billion S$10.2 billion (2) Pre-Acquisition Post-Acquisition

  15. Slide 15: Broadens CMT's Asset Base with Increased Exposure to Necessity Shopping Segment

    Broadens CMT’s Asset Base with Increased Exposure to Necessity Shopping Segment Strengthen the asset profile of predominantly necessity shopping malls, which have shown resilience over the years 25.5% 23.8% Pre Post Acquisition Acquisition 74.5% 76.2% (1) Percentage of CMT’s Portfolio by FY2014 Gros

  16. Slide 16: Enables CMT to Capitalise on the Competitive Strengths of Bedok Mall

    Enables CMT to Capitalise on the Competitive Strengths of Bedok Mall  Serves large and growing residential catchment - Bedok is the largest estate in Singapore in terms of population - Residential population likely to increase, in view of upcoming private and public residential developments in the

  17. Slide 17: Enables CMT to Capitalise on the Competitive Strengths of Bedok Mall

    Enables CMT to Capitalise on the Competitive Strengths of Bedok Mall Excellent Transport Connectivity Integrated Bedok Bus Interchange at Level 2 Underground pass to Bedok MRT Station Proposed Acquisition of Bedok Mall *July 2015* 17

  18. Slide 18: Capitalises on the Competitive Strengths of Bedok Mall

    Capitalises on the Competitive Strengths of Bedok Mall Largest Mall in Bedok with Strong Operational Performance High occupancy rate of 99.3% as at 31 December 2014 1Q 2015 Average Shopper Traffic Approximately 1.4M/Month (+21.9% Y-o-Y ) Proposed Acquisition of Bedok Mall *July 2015* 18

  19. Slide 19: Revenue Diversification

    Revenue Diversification  Improves revenue diversification and reduces the reliance of the CMT group’s revenue stream on any single property - Maximum contribution to the CMT group’s gross revenue(1) by any single property will decrease from 12.0% to 11.2% following the Acquisition. - Diversify reve

  20. Slide 20: Proposed Acquisition of Bedok Mall *July 2015*

    Proposed Acquisition of Bedok Mall *July 2015*

  21. Slide 21: Method of Financing

    Method of Financing S$’million (1) Consideration Units 154.8 Acquisition fee in units 7.8 Bank Borrowings 632.4 Total acquisition outlay 795.0 (1) Based on 72 million consideration units and illustrative unit price of S$2.15, which is CMT’s VWAP for the 10 business days immediately preceding the dat

  22. Slide 22: Method of Financing

    Method of Financing 1  Consideration Units - 72 million units to be issued to vendors (or their nominees) on date of completion as partial consideration (~S$154.8(1) million based on illustrative price of S$2.15 (2) per unit) - Units will be priced at 10-day volume weighted average price (VWAP) imm

  23. Slide 23: Method of Financing

    Method of Financing 3  Remaining balance of the total acquisition outlay (S$632.4 million(1)) may be financed by bank borrowings Aggregate Leverage 37.2% 33.8% As at 31 March 2015 Assuming remaining balance fully financed by bank borrowings (1) After issuance of consideration units and units issued

  24. Slide 24: Thank you

    Photo Credit: Kwek Swee Seng, Singapore Photo Credit: Kwek Swee Seng, Singapore Thank you For enquiries, please contact: Ms Audrey Tan, Investor Relations, Direct: (65) 6713 1507 Email: audrey.tan@capitaland.com CapitaLand Mall Trust Management Limited (http://www.cmt.com.sg) 168 Robinson Road, #30-

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