Sunway Real Estate Investment Trust · MYX:SUNREIT
Sunway Real Estate Investment Trust — 1Q FY2017 Earnings Presentation
60 slides from Sunway Real Estate Investment Trust's earnings presentation, Oct 27, 2016
Slide 1: Sunway REIT Financial Results 1st Quarter Ended 30 September 2016
Sunway REIT Financial Results 1st Quarter Ended 30 September 2016 (FYE 30 June 2017) Announcement Date: 27 October 2016
Slide 2: Disclaimer
DISCLAIMER This presentation is for information purposes only and does not constitute an offer, solicitation or advertisement with respect to the purchase or sale of any security of Sunway Real Estate Investment Trust (“Sunway REIT”) and no part of it shall form the basis of, or be relied on in conn
Slide 3: Table of Contents
Table of Contents 1. Financial Highlights 2. 1Q 2017 Financial Results 3. 1Q 2017 Portfolio Performance 4. 1Q 2017 Property Performance 5. Market Outlook 6. Investor Relations Driving values through sustainable growth 3
Slide 4: 1. Financial Highlights
1. Financial Highlights Driving values through sustainable growth 4
Slide 5: Distribution Details
Distribution Details Dividend Distribution Details Distribution Period 1 July 2016 - 30 September 2016 1 Distribution Per Unit (DPU) (sen) 2.27 Notice of Entitlement 27 October 2016 Ex-Dividend Date 10 November 2016 Book Closure Date 14 November 2016 Payment Date 29 November 2016 1 Proposed income d
Slide 6: Financial Highlights
Financial Highlights Highlights 1Q 2017 1Q 2016 No. of Properties 14 14 Property Value (RM'billion) 6.459 6.341 No. of Units in Circulation 2,945,078,000 2,940,078,600 Unit Price as at 30 Sept (RM) 1.73 1.55 Market Capitalisation (RM'billion) 5.095 4.557 Net Asset Value (NAV) Per Unit (RM) 1.3547 1.
Slide 7: Financial Highlights (Cont'd)
Financial Highlights (Cont’d) Gross Revenue (RM'm) Net Property Income (RM'm) 700.0 500.0 600.0 400.0 500.0 1 2 6.3% 6.8% 400.0 300.0 300.0 200.0 200.0 128.9 96.1 121.2 100.0 89.9 100.0 - - 1Q 1Q 2017 2016 2017 2016 1 Gross Revenue for 1Q2017 increased by 6.3% or RM7.7 million compared to 1Q2016 mai
Slide 8: Financial Highlights (Cont'd)
Financial Highlights (Cont’d) Profit Before Tax (Realised) (RM'm) DPU (sen) 400.0 12.00 10.00 300.0 1 10.1% 8.00 7.1% 2 200.0 6.00 4.00 100.0 2.27 66.7 2.12 60.6 2.00 - - 1Q 1Q 2017 2016 2017 2016 1 Profit Before Tax (Realised) for 1Q2017 increased by 10.1% or RM6.1 million compared to 1Q2016 due to
Slide 9: 2. 1Q 2017 Financial Results
2. 1Q 2017 Financial Results Driving values through sustainable growth 9
Slide 10: Statement of Comprehensive Income – Consolidated
Statement of Comprehensive Income – Consolidated 1Q 2017 1Q 2016 Change YTD 2017 YTD 2016 Change RM'000 RM'000 % RM'000 RM'000 % Gross revenue 128,879 121,216 6.3% 128,879 121,216 6.3% Less : Property operating expenses (32,814)1 (31,274) 4.9% (32,814) (31,274) 4.9% Net property income 96,065 89,942
Slide 11: Statement of Comprehensive Income-Consolidated (Cont'd)
Statement of Comprehensive Income-Consolidated (Cont’d) Explanation: 1 Property operating expenses for 1Q2017 increased by RM1.5 million compared to 1Q2016 mainly due to operating expenses for Sunway Putra Mall which re-opened in 4Q2015. 2 Included in other income for 1Q2016 was fair value gain on i
Slide 12: Statement of Financial Position – Consolidated
Statement of Financial Position – Consolidated 30.09.16 30.06.16 RM'000 RM'000 ASSETS Non-current assets Plant and equipment 9,088 8,698 Investment properties 6,458,982 6,433,000 6,468,070 6,441,698 Current assets Receivables, deposits and prepayments 31,333 25,842 Cash and bank balances 80,378 69,7
Slide 13: Debt Profile
Debt Profile Facility Limit RM'milion Loan Maturity Profile (RM'm) RM'million 800.0 Term Loan 422.0 413.61 147.4 Commercial Papers (CP) / 600.0 Revolving Loan (RL) 2 1,100.0 797.4 Unrated MTNs 1,000.0 1,000.0 400.0 3 650.0 Total Gross Borrowings 2,211.0 200.0 400.0 413.6 400.0 Discount on CP - 200.0
Slide 14: 3. 1Q 2017 Portfolio Performance
3. 1Q 2017 Portfolio Performance Driving values through sustainable growth 14
Slide 15: 1Q 2017 Revenue Contribution by Segment
1Q 2017 Revenue Contribution 1Q 2017 (RM'million) 128.9 1Q 2016 (RM'million) 121.2 By segment (RM'm) 140.0 14.5% 120.0 99.7 100.0 87.1 80.0 60.0 20.4% 10.8% 3.8% 40.0 16.4 20.6 20.0 7.4 8.3 5.4 5.2 - Retail Hotel Office Others 1Q 2017 1Q 2016 Note: Calculation of % of increase/decrease above varies
Slide 16: 1Q 2017 Revenue Contribution (Cont'd)
1Q 2017 Revenue Contribution (Cont’d) 1Q 2017 (RM'million) 128.9 1Q 2016 (RM'million) 121.2 Retail Hotel Office Others 80.0 By property (RM’m) 60.0 40.0 20.0 - Sun way Sun way Sun way SCI Sun way Sun way Sun way Sun way Sun way Sun way Sun way Resort Ho tel Ho tel Men ara Sun way Wisma Hypermar Putr
Slide 17: 1Q 2017 Revenue Contribution (Cont'd)
1Q 2017 Revenue Contribution (Cont’d) Explanation: 1 Sunway Pyramid – Growth of 3.3% or RM2.4 million for 1Q2017 compared to 1Q2016 mainly due to higher average net rent per sq. ft. 2 Sunway Carnival – higher by 11.4% or RM1.2 million for 1Q2017 compared to the preceding year corresponding quarter m
Slide 18: 1Q 2017 Revenue Contribution (Cont'd)
1Q 2017 Revenue Contribution (Cont’d) 1Q 2017 By Property % By segment Others Sunway Pyrami d 57.9% Office 4.2% 5.7% Sunway Carni val 9.1% Hotel SCI Hypermarket 0.9% 12.6% Sunway Putra Mal l 9.6% Total Retai l 77.5% Retail Sunway Res ort Hotel & Spa 9.2% 77.5% Sunway Pyrami d Hotel * 0.0% Sunway Hot
Slide 19: 1Q 2017 NPI Contribution by Segment
1Q 2017 NPI Contribution NPI Margin 1Q 2017 (RM'million) 96.1 74.6% 1Q 2016 (RM'million) 89.9 74.2% By Segment (RM'm) 100.0 17.2% 80.0 71.5 61.0 60.0 20.9% 9.8% 3.8% 40.0 19.6 20.0 15.5 3.7 4.1 5.4 5.2 - Retail Hotel Office Others 1Q 2017 1Q 2016 Note: Calculation of % of increase/decrease above var
Slide 20: 1Q 2017 NPI Contribution (Cont'd)
1Q 2017 NPI Contribution (Cont’d) NPI Margin 1Q 2017 (RM'million) 96.1 74.6% 1Q 2016 (RM'million) 89.9 74.2% Retail Hotel Office Others 65.0 60.0 By property (RM’m) 55.0 50.0 45.0 40.0 35.0 30.0 25.0 20.0 15.0 10.0 5.0 - (5.0) Sunway Sunway Sunway Sunway Sunway Sunway Sunway SCI Sunway Hotel Sunway
Slide 21: 1Q 2017 NPI Contribution (Cont'd)
1Q 2017 NPI Contribution (Cont’d) 1Q 2017 By segment By Property % Others Office 5.6% Sunway Pyrami d 59.0% 4.0% Sunway Carni val 7.7% Hotel SCI Hypermarket 1.2% 16.0% Sunway Putra Mal l 6.5% Total Retai l 74.4% Retail Sunway Res ort Hotel & Spa 11.9% 74.4% Sunway Pyrami d Hotel * 0.0% Sunway Hotel
Slide 22: Resilient Income Stream
Resilient Income Stream Well spread-out lease expiry profile and diverse tenant base WALE 1 as at 30 September 2016 – 2.04 years Top 10 tenants contribute approximately 12.1% of total revenue Projected tenancy expiry of portfolio 2 Top 10 tenants 4 Total Top 10 Tenants 12.1% 60.0% 54.6% Parkson Corp
Slide 23: 4. 1Q 2017 Property Performance
4. 1Q 2017 Property Performance Driving values through sustainable growth 23
Slide 24: Retail Properties: Sunway Pyramid Shopping Mall
RETAIL PROPERTIES SUNWAY PYRAMID SHOPPING MALL Historical occupancy rates Projected lease expiry schedule Average occupancy rate 35.0% 30.0% 100.0% 98.6% 98.3% 98.6% 97.8% 98.1% 98.3% 97.9% 25.0% 95.0% 20.0% 15.0% 90.0% 10.0% 85.0% 5.0% 80.0% 19.1% 30.3% 14.1% 31.3% 3.0% 0.0% FY2017 FY2018 FY2019 FY
Slide 25: Sunway Pyramid Shopping Mall (Cont'd)
RETAIL PROPERTIES SUNWAY PYRAMID SHOPPING MALL (Cont’d) Tenant mix 1 Top 10 tenants 1 Total Top 10 Tenants 12.3% Aeon Co. (M) Bhd 2.1% 22.9% Parkson Corporation Sdn Bhd 1.8% 36.1% TGV Cinemas Sdn Bhd 1.4% 4.3% JD Sports Fashion Sdn Bhd 1.3% 6.9% Cotton On (Malaysia) Sdn Bhd 1.1% (Cotton On, Factorie
Slide 26: Retail Properties: Sunway Carnival Shopping Mall
RETAIL PROPERTIES SUNWAY CARNIVAL SHOPPING MALL Historical occupancy rates Projected lease expiry schedule Average occupancy rate 35.0% 30.0% 100.0% 97.4% 97.3% 25.0% 96.4% 94.4% 94.3% 95.0% 20.0% 92.0% 91.2% 15.0% 90.0% 10.0% 85.0% 5.0% 80.0% 28.0% 18.8% 15.9% 34.3% 0.4% 0.0% FY2017 FY2018 FY2019 F
Slide 27: Sunway Carnival Shopping Mall (Cont'd)
RETAIL PROPERTIES SUNWAY CARNIVAL SHOPPING MALL (Cont’d) Tenant mix 1 Top 10 tenants 1 Total Top 10 Tenants 23.1% Parkson Corporation Sdn Bhd 9.2% 22.4% 24.7% Sam's Groceria Sdn Bhd 2.5% Sunway Hotel (Seberang Jaya) Sdn Bhd 2.1% (Convention Centre) 8.7% Life Habitat Sdn Bhd 1.7% (Studio) 21.1% Padin
Slide 28: Retail Properties: Suncity Ipoh Hypermarket
RETAIL PROPERTIES SUNCITY IPOH HYPERMARKET Historical occupancy rates Average occupancy rate 100% 100% 100% 100% 100% 100% 100% 100% 95% 90% 85% 80% 75% Jun-12 Jun-13 Jun-14 Jun-15 Jun-16 YTD 1Q YTD 1Q 2017 2016 Suncity Ipoh Hypermarket is tenanted to a single tenant, a major hypermarket and retaile
Slide 29: Retail Properties: Sunway Putra Mall
RETAIL PROPERTIES SUNWAY PUTRA MALL Historical occupancy rates Projected lease expiry schedule Average occupancy rate 70.0% 60.0% 100.0% # # 50.0% 85.2% 83.9% 79.8% 82.4% 80.0% 74.9% 40.0% 69.8% 60.0% 30.0% 20.0% 40.0% 10.0% 20.0% 2.9% 60.1% 21.5% 1.1% 0.0% * * 0.0% FY2017 FY2018 FY2019 FY2020 0.0%
Slide 30: Sunway Putra Mall (Cont'd)
RETAIL PROPERTIES SUNWAY PUTRA MALL (Cont’d) Tenant mix 1 Top 10 tenants 1 Total Top 10 Tenants 17.0% TGV Cinemas Sdn Bhd 4.2% 25.8% Padini Dot Com Sdn Bhd 1.8% 37.6% Parenthood Venture Sdn Bhd 1.7% 1.5% 3.0% GCH Retail (M) Sdn Bhd 1.6% 4.2% NFC Clothier Sdn Bhd 1.4% 1.6% (Nichii,Kitschen&Dressing P
Slide 31: Hospitality Properties: Sunway Resort Hotel & Spa
HOSPITALITY PROPERTIES SUNWAY RESORT HOTEL & SPA Historical occupancy rate Average occupancy rate Average occupancy rate (%) 94.3% 95.0% 100.0% 94.3% 87.4% 90.0% 90.0% 81.2% 87.4% 78.8% 78.0% 80.0% 76.0% 71.3% 85.0% 81.8% 82.2% 70.0% 80.0% 60.0% 73.6% 75.0% 50.0% Jun-12 Jun-13 Jun-14 Jun-15 Jun-16 Y
Slide 32: Hospitality Properties: Sunway Hotel Seberang Jaya
HOSPITALITY PROPERTIES SUNWAY HOTEL SEBERANG JAYA Historical occupancy rate Average occupancy rate Average occupancy rate (%) 90.0% 90.0% 80.0% 80.0% 70.2% 69.6% 70.2% 76.0% 67.8% 70.0% 65.5% 70.2% 60.2% 70.0% 60.0% 51.6% 64.1% 61.9% 60.2% 50.0% 60.0% 40.0% 50.0% Jun-12 Jun-13 Jun-14 Jun-15 Jun-16 Y
Slide 33: Hospitality Properties: Sunway Putra Hotel
HOSPITALITY PROPERTIES SUNWAY PUTRA HOTEL Historical occupancy rate Average occupancy rate Average occupancy rate (%) 80.0% 80.0% 69.0% 70.0% 60.2% 69.0% 59.0% 70.0% 60.0% 50.2% 61.5% 42.6% 58.3% 50.0% 36.5% 60.0% 40.0% 28.8% 50.0% 45.0% 30.0% 20.0% 40.0% 36.5% 10.0% 0.0% 30.0% Jun-12 * Jun-13 Jun-1
Slide 34: Hospitality Properties: Sunway Hotel Georgetown
HOSPITALITY PROPERTIES SUNWAY HOTEL GEORGETOWN Historical occupancy rate Average occupancy rate Average occupancy rate (%) 87.3% 90.0% 87.3% 90.0% 76.0% 85.0% 82.6% 80.0% 74.0% 70.4% 69.1% 68.8% 80.0% 70.0% 74.1% 54.7% 75.0% 60.0% 70.7% 70.0% 68.8% 50.0% 40.0% 65.0% Jun-15 * Jun-16 # # # Jun-12 Jun-
Slide 35: Office Properties: Menara Sunway
OFFICE PROPERTIES MENARA SUNWAY Historical occupancy rates Projected lease expiry schedule Average occupancy rate 100.0% 100.0% 98.5% 98.9% 98.8% 80.0% 97.1% 95.1% 95.0% 60.0% 89.3% 89.8% 90.0% 40.0% 85.0% 20.0% 80.0% 3.7% 5.4% 80.7% 0.0% FY2017 FY2018 FY2019 75.0% Jun-12 Jun-13 Jun-14 Jun-15 Jun-16
Slide 36: Menara Sunway (Cont'd)
OFFICE PROPERTIES MENARA SUNWAY (Cont’d) Tenant mix 1 Top 10 tenants 1 2.0% Total Top 10 Tenants 77.0% 12.4% 2.1% Sunway Management Sdn Bhd 21.4% 2.7% 32.2% Sunway Integrated Properties Sdn Bhd 18.5% 2.8% Sunway Construction Group Berhad 8.9% 5.5% Merck Sdn Bhd 7.4% 7.4% Sunway Shared Service Sdn Bh
Slide 37: Office Properties: Sunway Tower
OFFICE PROPERTIES SUNWAY TOWER Historical occupancy rates Projected lease expiry schedule Average occupancy rate 15.0% 100.0% 12.0% 93.5% 83.0% 84.3% 80.0% 9.0% 66.9% 60.0% 6.0% 40.0% 3.0% 29.3% 19.6% 20.7% 1.9% 7.4% 11.4% 20.0% 0.0% FY2017 FY2018 FY2019 0.0% Jun-12 Jun-13 Jun-14 Jun-15 Jun-16 YTD 1
Slide 38: Sunway Tower (Cont'd)
OFFICE PROPERTIES SUNWAY TOWER (Cont’d) Tenant mix 1 Top 10 tenants 1 Total Top 10 Tenants 99.4% 5.4% 8.6% WPP Business Services Sdn Bhd 20.0% VPO Services Sdn Bhd 19.0% 14.3% ZJ Advisory Sdn Bhd 15.7% 51.7% Royal Danish Embassy 14.3% Bexcel Shared Services Malaysia Sdn Bhd 11.4% 20.0% R1 Internatio
Slide 39: Office Properties: Sunway Putra Tower
OFFICE PROPERTIES SUNWAY PUTRA TOWER Historical occupancy rates Projected lease expiry schedule Average occupancy rate 20.0% 100.0% 15.0% 85.2% 78.0% 80.0% 74.2% 10.0% 60.0% 52.8% 40.0% 5.0% 26.4% 25.7% 26.7% 20.0% 3.7% 4.3% 17.7% 0.0% FY2017 FY2018 FY2019 0.0% Jun-12 Jun-13 Jun-14 Jun-15 Jun-16 YTD
Slide 40: Sunway Putra Tower (Cont'd)
OFFICE PROPERTIES SUNWAY PUTRA TOWER (Cont’d) Tenant mix 1 Top tenants 1 Total Top Tenants 100.0% 2.0% 5.0% Kementerian Perdagangan Dalam Negeri 61.1% Koperasi Dan Kepenggunaan Malaysia Jabatan Perdana Menteri (I.C.U) 14.9% Jabatan Pengairan & Saliran Malaysia (JPS) 14.8% Chini Enterprise Sdn Bhd 5.
Slide 41: Office Properties: Wisma Sunway
OFFICE PROPERTIES WISMA SUNWAY Historical occupancy rates Projected lease expiry schedule Average occupancy rate 40.0% 100.0% 30.0% 89.8% 90.1% 89.8% 90.0% 86.9% 87.6% 85.1% 80.9% 20.0% 80.0% 70.0% 10.0% 60.0% 25.8% 25.8% 31.0% 0.0% FY2017 FY2018 FY2019 50.0% Jun-12 Jun-13 Jun-14 Jun-15 Jun-16 YTD 1
Slide 42: Wisma Sunway (Cont'd)
OFFICE PROPERTIES WISMA SUNWAY (Cont’d) Tenant mix 1 Top tenants 1 Total Top Tenants 100.0% 3.5% 2.7% Jabatan Kesihatan Negeri Selangor 35.4% Jabatan Alam Sekitar 32.2% Lembaga Hasil Dalam Negeri 15.2% Yayasan Penyelidikan Transformasi 5.8% Pejabat Tindakan Pelancongan Negeri 5.2% 93.8% Selangor SM
Slide 43: 5. Market Outlook
5. Market Outlook Driving values through sustainable growth 43
Slide 44: General Outlook
General Outlook o Global growth prospects has turned more fragile to reflect a more subdued outlook for advanced economies following the United Kingdom’s decision to leave the European Union (“Brexit”) and the persistent soft growth in the United States. Although Brexit has not caused turbulence in
Slide 45: General Outlook
General Outlook o BNM has maintained the Overnight Policy Rate (“OPR”) at 3.00% at the recent Monetary Policy Committee (“MPC”) meeting on 7 September 2016. BNM remains accommodative in its monetary policy stance to ensure that the domestic economy continues on a steady growth path amid stable infla
Slide 46: General Outlook
General Outlook o The Manager expects a dip in DPU in FY2017 compared to FY2016 on the back of: i) Lower contribution from the hotel segment due to the closure of Sunway Pyramid Hotel to undertake refurbishment ii) Cessation of payment of Manager’s fees in units with effect from FY2017 o The Manager
Slide 47: Retail Segment
Retail Segment o The Malaysian retail industry recorded a lower-than-expected growth rate of 7.5% in retail sales in the 2Q CY2016, according to Retail Group Malaysia (“RGM”). Malaysian retailers suffered the worst quarterly decline since 1999 of 11.9% in 2Q CY2015. Marking the first anniversary of
Slide 48: Retail Segment (Cont'd)
Retail Segment (Cont’d) o Following the completion of the remodeling of 2nd floor area with NLA of approximately 16,000 sq.ft. (equivalent to 3% of total NLA) into food and beverage (“F&B”) area, the average occupancy rate for Sunway Carnival Shopping Mall has improved to 96.4% in 1Q FY2017 (FY2016:
Slide 49: Hotel Segment
Hotel Segment o Tourist arrivals have shown an improvement in the 1H CY2016. The Tourism and Culture Ministry stated that tourist arrivals rose 5.0% in the 1H CY2016 and on track to meet the target of 30.5 million tourists into the country for CY2016 with a total tourist receipts of RM103 billion. o
Slide 50: Hotel Segment (Cont'd)
Hotel Segment (Cont’d) o The average occupancy rate for Sunway Putra Hotel has improved to 69.0% in 1Q FY2017 compared to 36.5% in 1Q FY2016 as the hotel was still undergoing refurbishment during the same period last year. Post completion of refurbishment in 2Q FY2016, the hotel has embarked on acti
Slide 51: Office Segment
Office Segment o The prospects for the office segment remains bleak in CY2016 and beyond. The office supply in the Klang Valley has substantially increased over the years. The office stock stood at 111 million sq.ft. in 2Q CY2016 with approximately additional 14.13 million sq.ft. of office space ent
Slide 52: Office Segment (Cont'd)
Office segment (Cont’d) o The average occupancy rate for Wisma Sunway stood at 87.6% in 1Q FY2017 (FY2016: 90.1%). The marginally lower average occupancy rate was due to non- renewal of a tenant o The asset manager is actively seeking for replacement tenants to improve the occupancy of the office as
Slide 53: 6. Investor Relations
6. Investor Relations Driving values through sustainable growth 53
Slide 54: Unit Price Performance from IPO to 1Q2017
Unit Price Performance from IPO to 1Q2017 Unit Price Performance of Sunway REIT versus Benchmarks (8 July 2010 – 30 September 2016) 120.0% TR/GPR/APREA Composite REIT Index Malaysia 100.0% 126.0% 80.0% Sunway 60.0% REIT 40.0% 92.2% 20.0% FBM KLCI 25.6% 0.0% Dec 2010 Dec 2011 Dec 2012 Mar 2013 Dec 20
Slide 55: Unit Price Performance for 1Q2017
Unit Price Performance for 1Q2017 Unit Price Performance of Sunway REIT versus Benchmarks (30 June 2016 – 30 September 2016) 12.0% 10.0% TR/GPR/APREA Composite 8.0% REIT Index Malaysia 4.6% 6.0% 4.0% Sunway REIT 2.0% 4.2% 0.0% Jun 2016 Jul 2016 Aug 2016 FBM KLCI Sep 2016 -2.0% -0.1% -4.0% -6.0% Perf
Slide 56: Indices Representation
Indices Representation o Sunway REIT is represented in the following indices: FTSE Bursa Malaysia Mid 70 Index FTSE4Good Bursa Malaysia Index TR / GPR / APREA Composite REIT Index Malaysia FTSE EPRA / NAREIT Global REIT Index FTSE EPRA / NAREIT Global Index FTSE EPRA / NAREIT Asia ex Japan Index FTS
Slide 57: Unitholders' Composition
Unitholders’ Composition (as at 30 September 2016) Foreign Retail 13.4% 12.6% Sunway Berhad 37.3% Institutions & Domestic Corporate 86.6% 50.1% September 2016 June 2016 Q-o-Q Change No of unitholders 9,632 9,464 168 (+1.8%) Retail unitholders 12.6% 11.8% +0.8% Foreign unitholders 13.4% 12.8% +0.6% S
Slide 58: Analysts Recommendation
Analysts Recommendation (as at 30 September 2016) Target Price (RM) 7.5 6.9 Upside / Downside to unit price as at 30 September 2016 (%) 6.4 4.0 4.0 2.9 1.86 1.85 1.84 1.80 1.74 1.80 1.74 1.70 1.66 1.60 1.49 1.78 1.70 0.6 0.6 (1.7) (1.7) (4.0) (7.5) (13.9) UOB Kay Hian TA Research Hong Leong Kenanga
Slide 59: Comparative Yields for Various Assets
Comparative Yields for Various Assets 7.0% 6.40% 4 6.11% 2 6.0% 5.32% 1 5.0% 4.0% 3.55% 2 3.07% 3 3.00% 5 3.0% 2.0% 1.0% 0.0% Sunway REIT M-REITs 10-Year MGS Fixed Deposit EPF Yield OPR Note: 1 Distribution yield based on actual FY2017 proposed DPU of 9.2 sen and unit price as at 30 September 2016 (
Slide 60: Thank You
THANK YOU Driving values through sustainable growth 60
Sunway Real Estate Investment Trust — 1Q FY2017 Earnings Presentation on 6ix