Sunway Real Estate Investment Trust · MYX:SUNREIT
Sunway Real Estate Investment Trust — Q1 FY2018 Earnings Presentation
60 slides from Sunway Real Estate Investment Trust's earnings presentation, Oct 31, 2017
Slide 1: Sunway REIT Financial Results 1st Quarter Ended 30 September 2017
Sunway REIT Financial Results 1st Quarter Ended 30 September 2017 (FYE 30 June 2018) Announcement Date: 31 October 2017
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 2018 Financial Results 3. 1Q 2018 Portfolio Performance 4. 1Q 2018 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: Dividend Distribution Details
Distribution Details Dividend Distribution Details Distribution Period 1 July 2017 - 30 Sept 2017 1 Distribution Per Unit (DPU) (sen) 2.67 Notice of Entitlement 31 October 2017 Ex-Dividend Date 13 November 2017 Book Closure Date 15 November 2017 Payment Date 29 November 2017 1 Proposed income distri
Slide 6: Financial Highlights
Financial Highlights Highlights 1Q 2018 1Q 2017 No. of Properties 15 14 Property Value (RM'billion) 6.786 6.459 No. of Units in Circulation 2,945,078,000 2,945,078,000 Unit Price as at 30 Sept (RM) 1.72 1.73 Market Capitalisation (RM'billion) 5.066 5.095 Net Asset Value (NAV) Per Unit (RM) 1.4074 1.
Slide 7: Financial Highlights (Cont'd)
Financial Highlights (Cont’d) Gross Revenue (RM'm) Net Property Income (RM'm) 500.0 300.0 400.0 1 2 9.5% 15.5% 200.0 300.0 200.0 111.0 141.2 100.0 96.1 128.9 100.0 - - 1Q 1Q 2018 2017 2018 2017 1 Gross Revenue for 1Q2018 increased by 9.5% or RM12.3 million compared to 1Q2017 mainly due to better ove
Slide 8: Financial Highlights (Cont'd)
Financial Highlights (Cont’d) Profit Before Tax (Realised) (RM'm) DPU (sen) 300.0 10.00 1 18.0% 8.00 17.6% 2 200.0 6.00 4.00 100.0 2.67 78.7 66.7 2.27 2.00 - - 1Q 1Q 2018 2017 2018 2017 1 Profit Before Tax (Realised) for 1Q2018 increased by 18.0% or RM12.0 million compared to 1Q2017 mainly due to hi
Slide 9: 2. 1Q 2018 Financial Results
2. 1Q 2018 Financial Results Driving values through sustainable growth 9
Slide 10: Statement of Comprehensive Income – Consolidated
Statement of Comprehensive Income – Consolidated 1Q 2018 1Q 2017 Change YTD 2018 YTD 2017 Change RM'000 RM'000 % RM'000 RM'000 % Gross revenue 141,169 128,879 9.5% 141,169 128,879 9.5% Less : Property operating expenses (30,183) (32,814) -8.0% (30,183) (32,814) -8.0% Net property income 110,986 96,0
Slide 11: Statement of Comprehensive Income-Consolidated (Cont'd)
Statement of Comprehensive Income-Consolidated (Cont’d) Explanation: 1 Higher other income in the current quarter mainly contributed by unrealised fair value gain on interest rate swap of RM0.5 million. In 1Q2017, unrealised fair value loss on interest rate swap of RM2.6 million has been included in
Slide 12: Statement of Financial Position – Consolidated
Statement of Financial Position – Consolidated 30.09.17 30.06.17 RM'000 RM'000 ASSETS Non-current assets Investment properties 1 6,786,281 6,689,200 Plant and equipment 8,831 9,063 6,795,112 6,698,263 Current assets 2 Receivables, deposits and prepayments 73,143 32,974 Derivatives 3 451 8,112 Short
Slide 13: Debt Profile
Debt Profile Facility Limit RM'milion RM'million Loan Maturity Profile (RM'm) 1 1,100.0 Term Loan 422.0 422.2 900.0 Commercial Papers (CP) / 450.0 Revolving Loan (RL) 1,100.0 2 1,100.0 3 700.0 Unrated MTNs 10,000.0 1,000.0 500.0 4 Total Gross Borrowings 2,522.2 300.0 650.0 400.0 422.2 400.0 Discount
Slide 14: 3. 1Q 2018 Portfolio Performance
3. 1Q 2018 Portfolio Performance Driving values through sustainable growth 14
Slide 15: Revenue Contribution By Segment
1Q 2018 Revenue Contribution 1Q 2018 (RM'million) 141.2 1Q 2017 (RM'million) 128.9 By segment (RM'm) 160.0 3.9% 140.0 120.0 103.6 99.7 100.0 80.0 40.9% 8.1% 20.4% 60.0 40.0 23.1 16.4 20.0 8.0 7.4 6.5 5.4 - Retail Hotel Office Others 1Q 2018 1Q 2017 Note: Calculation of % of increase/decrease above v
Slide 16: 1Q 2018 Revenue Contribution by Property
1Q 2018 Revenue Contribution (Cont’d) 1Q 2018 (RM'million) 141.2 1Q 2017 (RM'million) 128.9 Retail Hotel Office Others 120.0 By property (RM’m) 100.0 80.0 60.0 40.0 20.0 - Sun way Sun way Sun way SCI Sun way Sun way Sun way Sun way Sun way Industrial Sun way Sun way Resort Ho tel Ho tel Men ara Sun
Slide 17: 1Q 2018 Revenue Contribution Explanations
1Q 2018 Revenue Contribution (Cont’d) Explanation: 1 Sunway Pyramid – Higher revenue mainly due to higher average gross rent per sq. ft.. 2 Sunway Putra Mall – Higher revenue on the back of higher average occupancy rate. 3 Sunway Pyramid Hotel – Registered gross revenue of RM4.5 million following th
Slide 18: 1Q 2018 Revenue Contribution (Cont'd)
1Q 2018 Revenue Contribution (Cont’d) 1Q 2018 By Property % By segment Others Sunway Pyrami d 54.6% Office 4.6% Sunway Carni val 8.4% 5.8% SCI Hypermarket 0.8% Hotel Sunway Putra Mal l 9.5% 16.3% Total Retai l 73.3% Retail Sunway Res ort Hotel & Spa 8.1% 73.3% Sunway Pyrami d Hotel 3.2% Sunway Hotel
Slide 19: 1Q 2018 NPI Contribution By Segment
1Q 2018 NPI Contribution NPI Margin 1Q 2018 (RM'million) 111.0 78.6% 1Q 2017 (RM'million) 96.1 74.6% By Segment (RM'm) 100.0 9.5% 78.3 80.0 71.5 7.2% 44.2% 5.3% 20.4% 60.0 40.0 22.2 20.0 15.4 4.0 3.8 6.5 5.4 - Retail Hotel Office Others 1Q 2018 1Q 2017 Note: Calculation of % of increase/decrease abo
Slide 20: 1Q 2018 NPI Contribution by Property
1Q 2018 NPI Contribution (Cont’d) NPI Margin 1Q 2018 (RM'million) 111.0 78.6% 1Q 2017 (RM'million) 96.1 74.6% Retail Hotel Office Others 65.0 By property (RM’m) 55.0 45.0 35.0 25.0 15.0 5.0 (5.0) Sunway Sunway Sunway Sunway SCI Sunway Sunway Sunway Hotel Sunway Sunway Hotel Menara Sunway Sunway Wism
Slide 21: 1Q 2018 NPI Contribution Explanations
1Q 2018 NPI Contribution (Cont’d) Explanation: 1 Sunway Pyramid – Higher NPI of RM5.5 million due to higher revenue of RM2.8 million and lower maintenance expenses. 2 Sunway Carnival – Higher NPI of RM0.8 million mainly due to higher revenue of RM0.2 million and lower allowance for doubtful debts du
Slide 22: 1Q 2018 NPI Contribution (Cont'd)
1Q 2018 NPI Contribution (Cont’d) 1Q 2018 By Property % By segment Others Sunway Pyrami d 56.0% Office 5.8% 3.7% Sunway Carni val 7.4% SCI Hypermarket 1.0% Hotel Sunway Putra Mal l 6.2% 19.9% Total Retai l 70.6% Retail 70.6% Sunway Res ort Hotel & Spa 10.0% Sunway Pyrami d Hotel 4.0% Sunway Hotel Se
Slide 23: Resilient Income Stream
Resilient Income Stream Well spread-out lease expiry profile and diverse tenant base WALE 1 as at 30 September 2017 – 1.85 years Top 10 tenants contribute approximately 12.2% of total revenue Projected tenancy expiry of portfolio 2 Top 10 tenants 4 Total Top 10 Tenants 12.2% 50.0% 48.3% Parkson Corp
Slide 24: 4. 1Q 2018 Property Performance
4. 1Q 2018 Property Performance Driving values through sustainable growth 24
Slide 25: Retail Properties: Sunway Pyramid Shopping Mall
RETAIL PROPERTIES SUNWAY PYRAMID SHOPPING MALL Historical occupancy rates Projected lease expiry schedule Average occupancy rate 50.0% 40.0% 100.0% 98.3% 98.8% 97.8% 98.1% 98.0% 97.9% 30.0% 95.0% 90.0% 20.0% 85.0% 10.0% 80.0% 28.0% 16.9% 46.1% 2.7% 5.0% 0.0% FY2018 FY2019 FY2020 FY2021 Monthly 75.0%
Slide 26: Sunway Pyramid Shopping Mall (Cont'd)
RETAIL PROPERTIES SUNWAY PYRAMID SHOPPING MALL (Cont’d) Tenant mix 1 Top 10 tenants 1 13.3% Total Top 10 Tenants Aeon Co. (M) Bhd 2.2% 23.1% (Aeon) Parkson Corporation Sdn Bhd 35.1% (Parkson, Origin) 1.7% JD Sports Fashion Sdn Bhd 1.5% (JD, Sports Empire, The Marathon Shop) 4.9% TGV Cinemas Sdn Bhd
Slide 27: Retail Properties: Sunway Carnival Shopping Mall
RETAIL PROPERTIES SUNWAY CARNIVAL SHOPPING MALL Historical occupancy rates Projected lease expiry schedule Average occupancy rate 50.0% 40.0% 100.0% 97.3% 97.6% 96.4% 95.1% 30.0% 94.4% 95.0% 92.0% 90.0% 20.0% 85.0% 10.0% 80.0% 28.2% 20.9% 46.6% 0.7% 0.4% 0.0% FY2018 FY2019 FY2020 FY2021 Monthly 75.0
Slide 28: 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 22.7% Parkson Corporation Sdn Bhd 8.7% (Parkson) 22.2% 25.2% 2 PECC Sdn Bhd 2.7% (Prai Exhibition Convention Centre) Sam's Groceria Sdn Bhd 2.3% (Sam's Groceria) Life Habitat Sdn Bhd 1.7% 9.4%
Slide 29: Retail Properties: Suncity Ipoh Hypermarket
RETAIL PROPERTIES SUNCITY IPOH HYPERMARKET Historical occupancy rates Average occupancy rate 100% 100% 100% 100% 100% 100% 100% 95% 90% 85% 80% 75% Jun-14 Jun-15 Jun-16 Jun-17 YTD 1Q YTD 1Q 2018 2017 Suncity Ipoh Hypermarket is tenanted to a single tenant, a major hypermarket and retailer chain oper
Slide 30: Retail Properties: Sunway Putra Mall
RETAIL PROPERTIES SUNWAY PUTRA MALL Historical occupancy rates Projected lease expiry schedule Average occupancy rate 60.0% 50.0% 100.0% 3 2 86.3% 86.9% 85.2% 82.4% 40.0% 80.0% 74.9% 30.0% 60.0% 20.0% 40.0% 10.0% 20.0% 58.3% 22.3% 5.2% 2.4% 0.3% 0.0% 1 0.0% FY2018 FY2019 FY2020 FY2021 Monthly 0.0% t
Slide 31: Sunway Putra Mall (Cont'd)
RETAIL PROPERTIES SUNWAY PUTRA MALL (Cont’d) Tenant mix 1 Top 10 tenants 1 Total Top 10 Tenants 18.7% TGV Cinemas Sdn Bhd 4.2% 23.3% (TGV Cinemas) Parenthood Venture Sdn Bhd 2.4% (The Parenthood) 37.3% Jerasia Fashion Sdn Bhd 1.9% (Nike, Mango) 2.2% 3.1% Padini Dot Com Sdn Bhd 1.8% (Padini Concept S
Slide 32: Hospitality Properties: Sunway Resort Hotel & Spa
HOSPITALITY PROPERTIES SUNWAY RESORT HOTEL & SPA Historical occupancy rate Average occupancy rate Average occupancy rate (%) 100.0% 100.0% 94.3% 90.4% 94.3% 95.0% 90.0% 81.2% 81.5% 90.4% 78.8% 78.0% 90.0% 80.0% 70.0% 85.0% 80.3% 79.5% 60.0% 80.0% 50.0% 75.0% 71.7% Jun-14 Jun-15 Jun-16 Jun-17 YTD 1Q
Slide 33: Hospitality Properties: Sunway Pyramid Hotel
HOSPITALITY PROPERTIES SUNWAY PYRAMID HOTEL Historical occupancy rate Average occupancy rate Average occupancy rate (%) 90.0% 90.0% 82.4% 81.4% # 80.0% 78.2% 80.0% 71.8% 71.0% 71.0% 70.0% 70.0% 56.8% 62.0% 60.0% 60.0% 50.0% 50.0% # 40.0% 43.0% * ^ Jun-14 Jun-15 Jun-16 Jun-17 YTD 1Q YTD 1Q 40.0% 2018
Slide 34: 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% 75.3% 69.6% 71.1% 70.2% 67.8% 80.0% 70.0% 65.5% 75.3% 76.3% 73.9% 60.0% 70.2% 50.0% 70.0% 63.9% 40.0% Jun-14 Jun-15 Jun-16 Jun-17 YTD 1Q YTD 1Q 2018 2017 60
Slide 35: Hospitality Properties: Sunway Putra Hotel
HOSPITALITY PROPERTIES SUNWAY PUTRA HOTEL Historical occupancy rate Average occupancy rate Average occupancy rate (%) 90.0% 100.0% 78.6% 85.0% 80.0% 68.2% 69.0% 80.0% 78.6% 60.0% 50.2% 42.6% 75.0% 40.0% 28.8% 71.7% 69.0% 70.0% 20.0% 67.0% 64.5% 0.0% 65.0% Jun-14 Jun-15 Jun-16 Jun-17 YTD 1Q YTD 1Q 60
Slide 36: Hospitality Properties: Sunway Hotel Georgetown
HOSPITALITY PROPERTIES SUNWAY HOTEL GEORGETOWN Historical occupancy rate Average occupancy rate (%) Average occupancy rate 100.0% 100.0% 93.3% 95.0% 93.3% 87.7% 87.3% 90.0% 88.7% 88.6% 90.0% 87.3% 86.4% 80.0% 76.0% 74.0% 85.0% 69.1% 70.0% 80.0% 75.0% 60.0% 70.0% 50.0% # Jun-14 Jun-15 * Jun-16 Jun-17
Slide 37: Office Properties: Menara Sunway
OFFICE PROPERTIES MENARA SUNWAY Historical occupancy rates Projected lease expiry schedule Average occupancy rate 100.0% 100.0% 98.8% 80.0% 97.1% 95.1% 95.0% 92.1% 60.0% 89.3% 89.8% 90.0% 40.0% 85.0% 20.0% 80.0% 5.8% 83.0% 6.3% 0.0% FY2018 FY2019 FY2020 75.0% Jun-14 Jun-15 Jun-16 Jun-17 YTD 1Q YTD 1
Slide 38: Menara Sunway (Cont'd)
OFFICE PROPERTIES MENARA SUNWAY (Cont’d) Tenant mix 1 Top 10 tenants 1 1.9% Total Top 10 Tenants 74.6% 13.2% 2.0% Sunway Management Sdn Bhd 20.7% 2.6% 31.3% Sunway Integrated Properties Sdn Bhd 17.7% 4.5% Sunway Construction Group Berhad 8.6% 5.9% Merck Sdn Bhd 7.1% 7.1% Sunway Shared Service Sdn Bh
Slide 39: Office Properties: Sunway Tower
OFFICE PROPERTIES SUNWAY TOWER Historical occupancy rates Projected lease expiry schedule Average occupancy rate 12.0% 100.0% 9.0% 84.3% 80.0% 66.9% 6.0% 60.0% 3.0% 40.0% 19.6% 20.7% 21.0% 20.7% 20.0% 7.4% 11.7% 2.1% 0.0% FY2018 FY2019 FY2020 0.0% Jun-14 Jun-15 Jun-16 Jun-17 YTD 1Q YTD 1Q Expiring t
Slide 40: Sunway Tower (Cont'd)
OFFICE PROPERTIES SUNWAY TOWER (Cont’d) Tenant mix 1 Top 10 tenants 1 Total Top 10 Tenants 99.5% 5.0% 8.1% WPP Business Services Sdn Bhd 20.3% VPO Services Sdn Bhd 19.2% 14.4% ZJ Advisory S/B 15.9% 52.3% Royal Danish Embassy 14.4% Bexcel Shared Services Malaysia Sdn Bhd 11.6% 20.2% R1 International
Slide 41: Office Properties: Sunway Putra Tower
OFFICE PROPERTIES SUNWAY PUTRA TOWER Historical occupancy rates Projected lease expiry schedule Average occupancy rate 25.0% 20.0% 100.0% 80.0% 74.2% 15.0% 60.0% 52.8% 10.0% 42.4% 40.0% 36.6% 5.0% 26.4% 25.7% 20.0% 3.8% 18.2% 20.4% 0.0% FY2018 FY2019 FY2020 0.0% Jun-14 Jun-15 Jun-16 Jun-17 YTD 1Q YT
Slide 42: Sunway Putra Tower (Cont'd)
OFFICE PROPERTIES SUNWAY PUTRA TOWER (Cont’d) Tenant mix 1 Top tenants 1 Total Top Tenants 100.0% 2.9% Kementerian Perdagangan Dalam Negeri Koperasi 3.2% 39.2% Dan Kepenggunaan Malaysia Lembaga Pembangunan Industri Pembinaan Malaysia 35.6% (CIDB) Jabatan Perdana Menteri (I.C.U) 9.5% Cradle Fund Sdn
Slide 43: 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% 1 90.1% 90.0% 86.9% 87.6% 85.1%2 83.6% 20.0% 80.0% 70.0% 10.0% 60.0% 30.9% 26.9% 18.6% 0.0% FY2018 FY2019 FY2020 50.0% Jun-14 Jun-15 Jun-16 Jun-17 YTD 1Q YTD 1Q 2
Slide 44: Wisma Sunway (Cont'd)
OFFICE PROPERTIES WISMA SUNWAY (Cont’d) Tenant mix 1 Top tenants 1 Total Top Tenants 100.0% 3.8% 2.4% Jabatan Kesihatan Negeri Selangor 38.3% Jabatan Alam Sekitar 25.3% Lembaga Hasil Dalam Negeri 17.4% Yayasan Penyelidikan Transformasi 7.0% Pejabat Tindakan Pelancongan Negeri Selangor 5.8% 93.8% SM
Slide 45: 5. Market Outlook
5. Market Outlook Driving values through sustainable growth 45
Slide 46: General Outlook
General Outlook o The International Monetary Fund (IMF) stated that the world’s economic growth in CY2017 thus far has been stronger than expected, with an upswing under way across nearly all the major economies. In its World Economic Outlook report in October 2017, the IMF raised the growth forecas
Slide 47: General Outlook (Cont'd)
General Outlook (Cont’d) o On 7 September 2017, the Monetary Policy Committee (MPC) of BNM left the Overnight Policy Rate (OPR) unchanged at 3.00%. The MPC has cited that at the current level of the OPR, the stance of monetary policy remains accommodative and supportive of economic activity, while t
Slide 48: Retail Segment
Retail Segment o The Malaysian retail industry recorded an encouraging growth of 4.9% y-o-y in 2Q CY2017, after a contraction of 1.2% y-o-y in 1Q CY2017. Independent retail research firm Retail Group Malaysia (RGM) revised its annual growth forecast downwards from 3.9% to 3.7% for the Malaysia retai
Slide 49: Retail Segment (Cont'd)
Retail Segment (Cont’d) o Sunway Carnival Shopping Mall’s average occupancy rate contracted marginally to 95.1% in 1Q FY2018, from 97.6% in FY2017 due to transition arising from the change of tenancy for a mini anchor tenant. Based on the total NLA of 149,787 sq.ft. which was due for renewal in FY20
Slide 50: Hotel Segment
Hotel Segment o The Ministry of Tourism targets tourist arrivals of 31.8 million with tourist receipts of RM118 billion in CY2017. Tourist arrivals for the first 5 months of CY2017 recorded 10.8 million which is below the target set by the Ministry of Tourism. However, tourist arrivals is expected t
Slide 51: Hotel Segment (Cont'd)
Hotel Segment (Cont’d) o In Penang, average occupancy rates improved further for both hotels. Sunway Hotel Seberang Jaya and Sunway Hotel Georgetown registered higher average occupancy rates of 75.3% and 93.3% in 1Q FY2018, up from 70.2% and 87.3% respectively in 1Q FY2017, benefitting from the frui
Slide 52: Office Segment
Office Segment o The total stock of office space in Kuala Lumpur and Selangor stood at 130.8 million sq.ft. in 1Q CY2017, with an estimated new supply of 11.9 million sq.ft. coming on stream. The glut in the office sub-sector is expected to persist in the short to medium term with pressure on occupa
Slide 53: 6. Investor Relations
6. Investor Relations Driving values through sustainable growth 53
Slide 54: Unit Price Performance from IPO to 1Q FY2018
Unit Price Performance from IPO to 1Q FY2018 Unit Price Performance of Sunway REIT versus Benchmarks (8 July 2010 – 30 September 2017) 140.0% GPR APREA Composite REIT Index - Malaysia 134.5% 120.0% Sunway REIT 91.1% 100.0% 80.0% 60.0% FBM KLCI 40.0% 33.4% 20.0% 0.0% Sep 2012 Jun 2010 Sep 2010 Jun 20
Slide 55: Unit Price Performance for 1Q FY2018
Unit Price Performance for 1Q FY2018 Unit Price Performance of Sunway REIT versus Benchmarks (30 June 2017 – 30 September 2017) 2.0% FBM KLCI -0.5% 0.0% Jun 2017 Jul 2017 Aug 2017 Sep 2017 GPR APREA Composite REIT Index- Malaysia -2.0% -0.7% Sunway -4.0% REIT -3.4% -6.0% Performance Statistics (30 J
Slide 56: Indices Representation
Indices Representation (as at 30 September 2017) o FTSE Bursa Malaysia Mid 70 Index o Bursa Malaysia REIT Index1 o FTSE4Good Bursa Malaysia Index o GPR APREA Composite REIT Index – Malaysia o FTSE EPRA NAREIT Global REIT Index o FTSE EPRA NAREIT Global Index o FTSE EPRA NAREIT Asia ex Japan Index o
Slide 57: Unitholders' Composition
Unitholders’ Composition (as at 30 September 2017) Foreign Retail 9.2% 10.0% Sunway Berhad 37.3% Institutions & Corporate Domestic 52.7% 90.8% September 2017 June 2017 Q-o-Q Change No of unitholders 10,608 10,307 301 (+2.9%) Retail unitholders 10.0% 10.0% Unchanged Foreign unitholders 9.2% 8.9% 0.3%
Slide 58: Analysts Recommendation
Analysts Recommendation (as at 30 September 2017) Target Price as at 30 September 2017(RM) 12.2 10.5 10.5 Upside / Downside to unit price as at 30 September 2017 (%) 9.9 8.7 8.1 7.6 7.6 7.0 4.1 1.93 1.90 1.90 1.89 1.84 1.87 1.86 1.85 1.85 1.79 1.75 1.7 1.70 1.70 (1.2) (1.2) UOB Kay Hian TA Research
Slide 59: Comparative Yields for Various Assets
Comparative Yields for Various Assets 7.0% 6.0% 5.89%2 5.58%1 5.70%5 5.0% 3.92%3 4.0% 3.10%4 3.00%6 3.0% 2.0% 1.0% 0.0% Sunway REIT M-REITs 10-Year MGS Fixed Deposit EPF Yield OPR Note: 1 Distribution yield is computed based on consensus FY2018 proposed DPU of 9.60 sen and unit price as at 30 Septem
Slide 60: Thank You
THANK YOU Driving values through sustainable growth
Sunway Real Estate Investment Trust — Q1 FY2018 Earnings Presentation on 6ix