Keppel REIT · SGX:K71U
Keppel REIT — FY2013 Earnings Presentation
34 slides from Keppel REIT's earnings presentation, Jan 20, 2014
Slide 1: Full Year 2013 Financial Results
\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Full Year 2013 Financial Results 20 January 2014
Slide 2: Important Notice
Important Notice \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// The past performance of Keppel REIT is not necessarily
Slide 3: Contents
Contents \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Page 1 Key Highlights 08 2 Financial Highlights 13 3 Capital
Slide 4: Keppel REIT
Keppel REIT \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Portfolio of ten quality commercial Grade A office 1 asset
Slide 5: Premium office buildings located in the prime CBDs of Singapore and Australia
Premium office buildings located in the prime CBDs of Singapore and Australia \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ Singapore Properties /////////////////////////////////////////////////////////////////////////////////////////////////////////////////////
Slide 6: Milestones in 2013
Milestones in 2013 \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// 1Q 2013 2Q 2013 Completed acquisition of Old Trea
Slide 7: 1. Key Highlights
1. Key Highlights \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Ocean Financial Centre, Singapore 7
Slide 8: 4Q & FY2013 Key Financial Highlights
4Q & FY2013 Key Financial Highlights \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Keppel REIT records its highest ful
Slide 9: 4Q & FY2013 Key Capital Management Highlights
4Q & FY2013 Key Capital Management\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ Highlights ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// All borrowings due in 2014
Slide 10: 4Q & FY2013 Key Portfolio Highlights
4Q & FY2013 Key Portfolio Highlights\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Singapore Portfolio Occupancy 100% 0
Slide 11: 4Q & FY2013 Key Portfolio Highlights
4Q & FY2013 Key Portfolio Highlights\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Ocean Financial Centre’s retail anne
Slide 12: Annual Valuation Exercise
Annual Valuation Exercise \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// AUM increased 10.4% y-o-y due mainly to the ad
Slide 13: 2. Financial Highlights
2. Financial Highlights \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Guinness Book of Marina Bay Financial Record C
Slide 14: Distributable income up 6% y-o-y to $214.0 mil
Distributable income 6% y-o-y to $214.0 mil \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// FY2013 FY2012 Change Prope
Slide 15: Balance Sheet
Balance Sheet \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// As at 31 Dec 2013 As at 31 Dec 2012 Non-current Assets $
Slide 16: 4Q 2013 Distribution Per Unit
4Q 2013 Distribution Per Unit \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Distribution Per Unit (DPU) 1.97 cents D
Slide 17: 3. Capital Management
3. Capital Management \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// 8 Chifley Square, Sydney 17
Slide 18: Capital Management
Capital Management \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Proactive capital management resulted in all-in inter
Slide 19: Capital Management
Capital Management \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// As at 31 Dec 2013 Gross Borrowings $3,031 m Aggregate
Slide 20: 4. Portfolio Analysis
4. Portfolio Analysis \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// One Raffles Quay, Singapore 20
Slide 21: Singapore Portfolio 100% Leased
Singapore Portfolio 100% Leased \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Strong portfolio occupancy of 99.8% Sing
Slide 22: Keppel REIT Historical Occupancy
Keppel REIT Historical Occupancy \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Keppel REIT portfolio occupancy has str
Slide 23: Portfolio WALE
Lease Portfolio \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Top ten tenants, accounting for 43% of portfolio NLA, ha
Slide 24: Lease Expiry Profile
Lease Expiry Profile \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Approximately 170,000 sf of space renewed and 69,00
Slide 25: Tenants diversified across Various Business Sectors
Tenants diversified across Various Business Sectors \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Retail (Exclude F&B
Slide 26: Tenant Base
Tenant Base \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Top ten tenants account for approximately 43% of portfolio N
Slide 27: Community Outreach
Community Outreach \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Lunchtime performances at Ocean Signing of Wishing
Slide 28: 5. Market Review and Outlook
5. Market Review and Outlook \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// 275 George Street, Brisbane 28
Slide 29: Office Market – Singapore
Office Market – Singapore \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Leasing activity in the CBD recorded a signi
Slide 30: Singapore
Singapore \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// According to advanced estimates by the Ministry of Trade and
Slide 31: Australia
Australia \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// The RBA maintained interest rates at 2.5% to promote higher
Slide 32: 6. Additional Information
6. Additional Information \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Bugis Junction, Singapore 32
Slide 33: Portfolio Information
Portfolio Information \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// AUM of $7.2 billion as at 31 December 2013 More th
Slide 34: Portfolio Information
Portfolio Information \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Office Tower to be 8 Chifley 77 King Street, 8 Exh