Mapletree Pan Asia Commercial Trust · SGX:N2IU
Mapletree Pan Asia Commercial Trust — Mapletree North Asia Commercial Trust — 1Q FY22/23 Earnings Presentation
27 slides from Mapletree Pan Asia Commercial Trust's earnings presentation, Jul 21, 2022
Slide 1: Mapletree North Asia Commercial Trust Business Update 1Q FY22/23
Mapletree North Asia Commercial Trust Business Update for the Period from 1 April 2022 to 30 June 2022 (1Q FY22/23) 21 July 2022
Slide 2: Important Notice
Important Notice NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION. THIS PRESENTATION SHALL NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY SE
Slide 3: Contents
Contents 1Q FY22/23 Financial Summary 1Q FY22/23 Portfolio Update Merger with MCT Appendix
Slide 4: 1Q FY22/23 Financial Summary
1Q FY22/23 Financial Summary 4 Sandhill Plaza, Shanghai
Slide 5: 1Q FY22/23 Financial Summary
1Q FY22/23 Financial Summary Gross Revenue1 Net Property Income (“NPI”)1 NPI Margin S$104.7m S$81.5m 77.9% 1.6% compared to 1Q FY21/22 4.1% compared to 1Q FY21/22 1.9 ppts compared to 1Q FY21/22 The higher NPI was due to: + Full-quarter contribution from Hewlett-Packard Japan Headquarters Buildin
Slide 6: 1Q FY22/23 Portfolio Contribution
1Q FY22/23 Portfolio Contribution (Including contribution from The Pinnacle Gangnam) Contribution to Contribution to Contribution to Assets Under Gross Revenue1 NPI1 Management2 (1Q FY22/23) (1Q FY22/23) (As at 30 June 2022) S$107.9m S$83.9m S$8,077.5m Festival Walk 47% Festival Walk 47% Festival Wa
Slide 7: Portfolio Gross Revenue and NPI by Asset
Portfolio Gross Revenue and NPI by Asset (Including contribution from The Pinnacle Gangnam) Gross Revenue by Asset NPI by Asset (S$m) (S$m) Festival Walk: NPI was marginally higher due to lower quantum of rental relief granted, partially 2.9 3.2 2.2 2.4 offset by lower average retail rental rate.
Slide 8: Balance Sheet and Capital Management Metrics
Balance Sheet and Capital Management Metrics (As at 30 June 2022) Balance Assets under Total Net Asset Value (“NAV”) Management1 Gross Debt2 per Unit Sheet 3 S$8,077.5m S$3,539.1m S$1.186 31 March 2022: 31 March 2022: 31 March 2022: S$8,267.1m S$3,575.5m S$1.231 Capital Aggregate Adjusted Interest A
Slide 9: Prudent Capital Management
Prudent Capital Management Debt Maturity Profile (as at 30 June 2022) ~21% • Total Gross Debt1: S$3,539.1 million Floating- (Denomination: ~58% HKD, ~34% JPY, ~4% KRW, ~3% SGD,~ 1% RMB) Rate • Average Term to Maturity: 2.42 years Borrowings Fixed Rate Notes ~79% Interest Rate (S$m) Bank Debt2 Fixed-
Slide 10: 1Q FY22/23 Portfolio Update
Hewlett-Packard Japan Headquarters Building 1Q FY22/23 Portfolio Update
Slide 11: Portfolio of Commercial Properties in North Asia
Portfolio of Commercial Properties in North Asia Providing Income and Geographical Diversification (As at 30 June 2022) 13 Properties Festival Walk in China, Hong Kong SAR1, The Pinnacle Gangnam, Seoul Japan and South Korea (50% effective interest) Tokyo Tokyo Tokyo Tokyo Tokyo S$8.1 billion Gateway
Slide 12: Portfolio Tenant Mix and Top 10 Tenants
Portfolio Tenant Mix and Top 10 Tenants (As at 30 June 2022) Top 10 Tenants by Monthly GRI Trade Sector by Gross Rental Income (“GRI”) (For the Month of June 2022) (For the Month of June 2022) Machinery / Equipment / Manufacturing 14.1% Tenant Building Apparel & Fashion Accessories 11.0% 1. BMW GW F
Slide 13: Well-Staggered Lease Expiry Profile
Well-Staggered Lease Expiry Profile Portfolio Lease Expiry Profile by Percentage of Monthly GRI (as at 30 June 2022) 36.7% 23.4% 15.4% 17.1% 12.6% 11.6% 12.9% 7.5% 10.8% 6.0% 4.5% 1.9% 6.9% 5.3% 5.5% 4.8% 1.4% 0.1% 2.2% 0.6% 2.0% 1.7% 0.1% 2.0% 0.7% 3.3% 0.4% 0.4% 0.1% 2.0% FY22/23 FY23/24 FY24/25 F
Slide 14: Update on Festival Walk, Hong Kong SAR
Update on Festival Walk, Hong Kong SAR Occupancy Rate Average Rental Shopper Traffic Retail Sales3 Reversion1,2 (For 1Q FY22/23) (For 1Q FY22/23) 99.4% compared to 99.6% as (For 1Q FY22/23) 10.0% 1.1% at 31 March 2022 -7% (retail) year-on-year year-on-year In Hong Kong SAR, the restrictive measu
Slide 15: Festival Walk Mall – Footfall and Retail Sales
Festival Walk Mall – Footfall and Retail Sales Tighter social distancing measures and dine-in bans imposed by the authorities to contain the spread of COVID-19 at the start of 2022, that were relaxed progressively in late April 2022 and May 2022 Monthly Footfall and Retail Sales (Year-on-Year Percen
Slide 16: Strengthening Festival Walk's Appeal as a Lifestyle Hub
Strengthening Festival Walk’s Appeal as a Lifestyle Hub Promotional campaigns and offers organised to boost sales MyFESTIVAL "Fascinating e-Reward$ Campaign “Amazing Bliss” Father’s Day Promotion Shoppers can redeem a gift with a minimum spending Shoppers are entitled to redeem varying amounts of e-
Slide 17: Update on China, Japan and South Korea Properties
Update on China, Japan and South Korea Properties (As at 30 June 2022) Gateway Plaza, Sandhill Plaza, Japan Properties, The Pinnacle Gangnam, Beijing, China Shanghai, China Greater Tokyo Seoul, South Korea Occupancy 92.8% 98.9% 97.8%1 97.9% (as at 30 June 2022) compared to 94.3% as at compared to 98
Slide 18: Outlook
Outlook 18 The Pinnacle Gangnam, Seoul
Slide 19: Outlook
Outlook Global economic growth for 2022 is set to moderate compared to the previous year, with challenges posed by factors such as rising interest rates, global inflation, ongoing supply chain disruptions, geopolitical tensions and the evolving COVID-19 situation. Hong Kong SAR The disbursement
Slide 20: Merger with MCT
mapletree north asia commercial Merger with MCT
Slide 21: Transformative Merger Combining Strength and Growth
Transformative Merger Combining Strength and Growth Creating a flagship commercial REIT that provides stability and scale across key gateway markets of Asia Largest pure-play Singapore commercial REIT with First and only North Asia focused REIT listed in Singapore, with MBC, Singapore longstanding t
Slide 22: Indicative Timeline
Indicative Timeline Save for the Effective Date, the timetable below is indicative only and may be subject to change. Please refer to future announcement(s) by the MNACT Manager, the MCT Manager and/or the SGX-ST for the exact dates of these events. Event Indicative Date Effective Date Thursday, 21
Slide 23: Thank You
mapletree north asia commercial Thank You
Slide 24: Appendix
Appendix Gateway Plaza, Beijing
Slide 25: Overview of Mapletree North Asia Commercial Trust
Overview of Mapletree North Asia Commercial Trust (“MNACT”) Singapore’s first commercial REIT with properties in China, Hong Kong SAR, Japan and South Korea (listed since 7 March 2013) Trust Structure Investment Mandate Sponsor Public To invest in a diversified portfolio of Mapletree Investments U
Slide 26: Diversified Portfolio of Quality Commercial Assets
Diversified Portfolio of Quality Commercial Assets Festival Walk, Gateway Plaza, Sandhill Plaza, Japan Properties, The Pinnacle Gangnam, Hong Kong SAR Beijing, China Shanghai, China Greater Tokyo Seoul One of the largest malls in A Grade-A office building, A Grade-A business park Nine Freehold Prope
Slide 27: Diversification of Portfolio to Reduce Geographical and Income Concentration
Diversification of Portfolio to Reduce Geographical and Income Concentration Invested In Assets Across Diversified Markets In China, Hong Kong SAR, Japan And South Korea To Deliver Sustainable Returns Initial Public Offering (“IPO”) 7 March 2013 End FY15/16 End FY18/19 End FY19/20 End FY20/21 End FY
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