CapitaLand Integrated Commercial Trust · SGX:C38U

CapitaLand Integrated Commercial Trust — CapitaCommercial Trust — Q3 2005 Earnings Presentation

25 slides from CapitaLand Integrated Commercial Trust's earnings presentation, Oct 20, 2005

  1. Slide 1: CapitaCommercial Trust 3Q 2005 Financial Results

    CapitaCommercial Trust 3Q 2005 Financial Results 20 Oct 2005 1

  2. Slide 2: Agenda

    Agenda ‰ Financial Results ‰ Portfolio Highlights ‰ Office Sector Outlook 2

  3. Slide 3: Financial Results

    Financial Results Cap/taCommercia

  4. Slide 4: 3Q 05: Continued Superior Performance

    3Q 05 : Continued Superior Performance Distribution per unit + 8.7% + 2.9% 6.83¢ ‰ 8.1% increase in rental rates vs 6.32¢ 6.29¢ forecast 6.14¢ ‰ 99% committed occupancy – higher than market benchmark 1 1 Forecast Actual Forecast Actual 29 Apr – 30 Jun 05 29 Apr – 30 Sep 05 Note: 1. The forecast is b

  5. Slide 5: DPU Outperforms Forecast by 8.7%

    DPU Outperforms Forecast by 8.7% 3Q 2005 29 Apr 2005 to 30 Sep 2005 1 Jan 2005 to 30 Sep 2005 Actual Actual Forecast 1 Var. Actual Forecast 2 Var. S$'000 S$'000 S$'000 % S$'000 S$'000 % Gross Revenue 29,122 49,328 47,732 3.3% 85,360 83,555 2.2% Net Property Income 22,298 37,116 35,368 4.9% 63,550 61

  6. Slide 6: Balance Sheet Summary

    Balance Sheet Summary 30 Sep 05 30 Jun 05 NAV S$'000 S$'000 1 Non-current assets 2,068,278 2,067,603 30 September 2005 1.60 Current assets 51,130 63,779 30 June 2005 1.61 Total assets 2,119,408 2,131,382 Adjusted NAV 2 Current liabilities 94,486 93,891 30 September 2005 1.58 Non-current liabilities

  7. Slide 7: Debt Related Information

    Debt Related Information As at As at 30 Sep 05 30 Jun 05 Total debt (S$’000) 656 656 1 Gearing ratio 31.0% 30.8% 2 Interest service coverage ratio 5.1 times 4.8 times All-in interest rate 2.52% 2.52% Notes: 1. Ratio of borrowings over total deposited property 2. Ratio of net investment income before

  8. Slide 8: Unit Price Performance

    Unit Price Performance Cap/taCommercia

  9. Slide 9: Delivering Capital Growth

    Delivering Capital Growth 70 60 + 51.0% SESPROP 50 CCT 40 30 STI 20 10 0 May-04 Jul-04 Sep-04 Nov-04 Jan-05 Mar-05 May-05 Jul-05 Sep-05 Source: Bloomberg As at 19 Oct 2005 Legend CCT +51% CCT = CapitaCommercial Trust SESPROP +69% STI +23% SESPROP = Singapore Property Equities Index STI = Straits Tim

  10. Slide 10: Indices – Inclusions Increasing

    Indices – Inclusions Increasing ‰ EPRA/NAREIT Global Real Estate Index ‰ GPR 250 Property Securities Index ‰ GPR 250 REIT Sub-Index ‰ GPR General Index ‰ FTSE/ASEAN Index (Sep 2005) Ranked 21st out of 640 in the Business Times Corporate Transparency Index 10

  11. Slide 11: Portfolio Highlights

    Portfolio Highlights Cap/taCommercia

  12. Slide 12: Breakdown Of Portfolio Gross Revenue

    Breakdown Of Portfolio Gross Revenue Ou tpe 49.33 Fo rform rec ast s S$' mil 47.73 1.60 (3.3%) 50 2.37 (4.8%) 48 0.49 (26.2%) 1.88 (3.9%) 46 4.18 (8.5%) 3.46 (7.2%) 0.72 (20.8%) 44 42 0.38 (0.9%) 42.78 (86.7%) 42.40 (88.8%) 40 38 Forecast Actual Gross Rental Income Car Park Others 29 Apr 05 to 30 Se

  13. Slide 13: Gross Revenue – By Asset

    Gross Revenue – By Asset S$'000 1 Jan 2005 to 30 Sep 2005 29 Apr 2005 to 30 Sep 2005 1 2 Actual Forecast Var. Actual Forecast Var. Capital Tower 30,660 30,453 0.7% 17,231 17,062 1.0% 6 Battery Road 23,934 23,519 1.8% 13,282 12,929 2.7% HSBC Building 3,441 3,441 0.0% 3,441 3,441 0.0% Starhub Centre 8

  14. Slide 14: Net Property Income – By Asset

    Net Property Income – By Asset S$'000 1 Jan 2005 to 30 Sep 2005 29 Apr 2005 to 30 Sep 2005 1 2 Actual Forecast Var. Actual Forecast Var. Capital Tower 22,297 22,117 0.8% 12,599 12,310 2.3% 6 Battery Road 18,082 17,171 5.3% 10,125 9,454 7.1% HSBC Building 3,418 3,418 0.0% 3,418 3,418 0.0% Starhub Cen

  15. Slide 15: Portfolio Occupancy Close to 100%

    Portfolio Occupancy Close to 100% As at 30 Sep 2005 Portfolio 99.0% Capital Tower 100.0% 6 Battery Road 99.4% Starhub Centre 100.0% Robinson Point 96.9% Bugis Village 91.8% Golden Shoe Car Park 100.0% Market Street Car Park 79.8% 1 HSBC Building 100.0% 75% 80% 85% 90% 95% 100% URA 2Q2005 Office Occu

  16. Slide 16: Higher Retention & Rental Income

    Higher Retention & Rental Income Renewed / New Leases Retention Due For Increase Vs as at 30 Sep 05 Ratio Renewal In Forecast (% of portfolio) as at FY 2005 Rent (Sq m) 30 Sep 05 Renewals 30,781 25,186 81.8% 7.2% (16.4%) (13.4%) New Leases NA 16,136 NA 9.5% (8.6%) Weighted Average NA NA NA 8.1% 16

  17. Slide 17: Higher Renewals: 7.2% Above Forecast

    Higher Renewals : 7.2% Above Forecast Net Lettable Area Increase No of vs Renewals leases Forecast Area % of (sq m) NLA Rent Capital Tower 4 2,704 3.9% 4.2% 6 Battery Road 14 7,474 16.3% 5.2% Starhub Centre 9 9,425 36.4% 10.5% Robinson Point 1 1,159 9.4% 0.0% Bugis Village 19 2,711 25.3% 11.7% Golde

  18. Slide 18: New Leases: 9.5% Above Forecast

    New Leases : 9.5% Above Forecast Net Lettable Area Increase No of vs New Leases leases Forecast Area % of (sq m) NLA Rent Capital Tower 5 5,831 8.4% 11.7% 6 Battery Road 13 5,987 13.0% 6.8% Starhub Centre 5 984 3.8% 0.9% Robinson Point 7 1,825 14.8% 2.5% Bugis Village 12 1,246 11.6% 30.7% Golden Sho

  19. Slide 19: Stable & Sustainable Income

    Stable & Sustainable Income Weighted Average Lease Term to Expiry As at 30 Sep 2005 By Gross Rent 3.02 By Net Lettable Area 3.19 19

  20. Slide 20: Office Market Outlook

    LL Office Market Outlook Cap/taCommercia

  21. Slide 21: Positive Office Sector

    Positive Office Sector Singapore Office Sector Annual New Supply & Average Prime Office Rent $ psfpm million (sf) 4.5 10yr Average Prime $11.00 Rent = $6.70 psfpm $9.90 4.0 $9.60 $10.00 $9.00 10yr Annual Average 3.5 Supply = 2.06 mil sf $9.00 $8.00 3.0 $7.50 $8.00 $7.00 $7.00 2.5 $7.00 $6.10 $6.20 $

  22. Slide 22: In Summary

    In Summary ‰ Consistently outperformed since listing ‰ Well poised to ride office market uptrend ‰ Market leader in the prime office sector ‰ Management team able to differentiate portfolio and propel CCT performance ahead of market ‰ Confident of achieving higher distribution per unit vs 2005 forec

  23. Slide 23: Important Notice

    Important Notice This presentation may contain forward-looking statements that involve 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 assumptions. Re

  24. Slide 24: Thank You

    24 Thank You Cap/taCommercia

  25. Slide 25: CapitaCommercial Trust Management Limited contact details

    CapitaCommercial Trust Management Limited 39 Robinson Road, #18-01 Robinson Point Singapore 068911 Tel: (65)-6536 1188 Fax: (65)-6533 6133 http://www.capitacommercial.com Investor & Analyst Contact: Adrian Chui (65) 6826-5646 Heng Hui Lin (65) 6826-5841 25

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