Capitaland China Trust · SGX:AU8U
Capitaland China Trust — CapitaRetail China Trust — Investor Presentation (March 2012)
27 slides from Capitaland China Trust's investor presentation, Mar 30, 2012
Slide 1: CapitaRetail China Trust (CRCT): Tapping into China's Consumption Growth
CAPITARETAIL CHINA TRUST (CRCT) First and Only China Shopping Mall S-REIT Tapping into China’s Consumption Growth 30 and 31 March 2012
Slide 2: Important Notice and Disclaimer
Important Notice and Disclaimer This presentation may contain forward-looking statements that involve assumptions, 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, uncer
Slide 3: Contents
Contents Overview FY 2011 Highlights Market Outlook 2 CRCT Investor Presentation *March 2012*
Slide 4: Overview
CapitaMall Qibao, Shanghai Overview Financial Results for XQ 2011 * DD Month 2011*
Slide 5: First and Only China Shopping Mall S-REIT
First and Only China Shopping Mall S-REIT Geographically Diversified Portfolio of 9 Income-Producing Shopping Malls 6 Growth Cities 535,279 sq m Total GRA RMB7.1 billion Valuation 60.8 million Shopper Traffic Valuation and total gross rentable area as at 31 Dec 2011. Shopper traffic for FY 2011. 4 C
Slide 6: Access to China's Rapidly Growing Retail Market
Access to China’s Rapidly Growing Retail Market Increasing Urbanisation – Retailers Continue to Enjoy Strong 1 2 Projected to reach 61.9% in 2030 Sales RMB Mil 18,123 58.6 61.9 15,700 55.0 51.1 47.0 13,268 42.5 35.8 10,849 30.9 8,921 7,641 6,718 5,950 1995 2000 2005 2010 2015 2020 2025 2030 2004 200
Slide 7: Unique Exposure into China's Tier 1, 2, and 3 Cities
Unique Exposure into China’s Tier 1, 2, and 3 Cities • CRCT offers unique opportunity to tap into the growth of both Tier 1 and non-Tier 1 Chinese cities • Robust retail sales growth of about 18% in Huhhot, Wuhan, Zhengzhou and Wuhu in 2011 CRCT’s Portfolio Gross Rentable Area Retail Sales Growth in
Slide 8: International Retailers Keen to Expand into China
International Retailers Keen to Expand into China Expansion plans across 1st, 2nd and 3rd tier cities 1,000 stores 1,500 stores 2,500 stores by 2020 by 2015 by 2015 New Brands Entering China: “We think second tier is a great opportunity because the middle class is growing faster…It may be starting f
Slide 9: Quality Tenants in Our Malls
Quality Tenants in Our Malls 8 CRCT Investor Presentation *March 2012*
Slide 10: CRCT offers Resilience and Growth
CRCT offers Resilience and Growth Increasing distribution per unit through economic cycles Distribution Per Unit (Singapore cents) 8.36 8.70 8.14 7.53 6.72 2007 2008 2009 2010 2011 Global Financial Crisis European Debt Crisis 9 CRCT Investor Presentation *March 2012*
Slide 11: Investing in Quality, Income-Producing Malls
Investing in Quality, Income-Producing Malls CapitaMall Xizhimen - China’s Most Progressive Mall • Landmark development in Beijing • Won “China’s Most Progressive Mall” award conferred by China Commercial Real Estate Association in Mar 2012 Other awards won by CapitaMall Xizhimen: • “Most Youthful a
Slide 12: Investing in Quality, Income-Producing Malls (cont'd)
Investing in Quality, Income-Producing Malls (cont’d) CapitaMall Wangjing – Most Influential Mall in Wangjing Area • Won “Most Influential Mall in Wangjing Area” by Beijing News in 2010 • One of China’s top commercial projects promoting regional development, DFOM Commercial Real Estate Forum, 2011 •
Slide 13: Investing in China through a Singapore-listed Vehicle with Strong Corporate Governance
Investing in China through a Singapore-listed Vehicle with Strong Corporate Governance List of Awards won by CRCT “Best Investor Relations for an IPO” Award Gold, Silver and Bronze awards in the 2007 by IR Magazine South East Asia “Best Annual Report – REITs and Business Trusts” category at the
Slide 14: Strong Sponsor
Strong Sponsor CRCT is managed by an external manager, CapitaRetail China Trust Management Limited, which is an indirect wholly-owned subsidiary of CapitaMalls Asia Limited (CMA), one of Asia’s largest listed shopping mall developers, owners and managers. Long-term growth potential from rights of
Slide 15: FY 2011 Highlights
CapitaMall Wangjing, Beijing FY 2011 Highlights Financial Results for XQ 2011 * DD Month 2011*
Slide 16: FY 2011 Highlights
FY 2011 Highlights • Stellar financial results in 4Q 2011 4th consecutive quarter of double-digit growth in tenant sales and NPI DPU growth of 10.1% to 2.28 cents Rental reversion of 9.5% • Strong growth in FY 2011 NPI growth of 15.9% (11.7% excl CapitaMall Minzhongleyuan) Positive rental
Slide 17: Delivering Results in 2011
Delivering Results in 2011 • CapitaMall Xizhimen and CapitaMall Wangjing Double-digit y-o-y NPI growth from portfolio’s two largest malls Close to 100% occupancy Double-digit rental reversions • Enlarged portfolio with acquisition of CapitaMall Minzhongleyuan CapitaMall Minzhongleyuan 16 CRCT
Slide 18: Delivering Results in 2011 (cont'd)
Delivering Results in 2011 (cont’d) • CapitaMall Wuhu, CapitaMall Qibao and CapitaMall Saihan Robust NPI growth momentum - CapitaMall Wuhu: 37.6% y-o-y - CapitaMall Qibao: 60.8% y-o-y - CapitaMall Saihan: 91.7% y-o-y CapitaMall Saihan Strong rental reversion CapitaMall Qibao CapitaMall Wuhu 17 C
Slide 19: Robust Tenant Sales Growth Trend
Robust Tenant Sales Growth Trend CRCT Portfolio Tenant Sales1 Growth Exceeded China’s retail sales growth of Ave. Monthly Sales (RMB psm) 18.4% in 2010 and 17.1% in 2011 +26.1% +25.8% 1. Includes only tenants at CapitaMall Xizhimen, CapitaMall Wangjing, CapitaMall Saihan, CapitaMall Qibao and Capita
Slide 20: Strong Financial Position
Strong Financial Position 4Q 2011 Unencumbered Assets as Fixed vs Floating Rate Debt 100.0% % of Total Assets as at 31 Dec 2011 Gearing 28.0% Net Debt / EBITDA (x) 5.2 Interest Coverage 8.0 Average Term to Maturity (Years) 1.341 Average Cost of Debt 2.60% 1. The average term to maturity has been ext
Slide 21: Market Outlook
CapitaMall Wuhu, Wuhu Market Outlook Financial Results for XQ 2011 * DD Month 2011*
Slide 22: China's Fundamentals Remain Strong
China’s Fundamentals Remain Strong • Healthy GDP growth of 9.2%1 and retail sales growth of 17.1%1 in 2011 despite dismal global economic conditions • 2012 GDP growth target of 7.5% to achieve higher quality, sustainable development. 7.5% growth rate is still much higher than developed countries 201
Slide 23: Growing Income and Increasing Urbanisation to Support Consumption Growth
Growing Income and Increasing Urbanisation to Support Consumption Growth • Urban disposable income per capita expected to grow about 15% per annum from 2011 to 2015 Growth in urban disposable income per capita in 2011 Beijing 13.2% Zhengzhou 14.4% Shanghai 13.8% Wuhan 14.1% • Urbanisation rate expec
Slide 24: Government is Committed to Boost Consumption
Government is Committed to Boost Consumption “We will work hard to expand consumer demand. We will move faster to set up a permanent mechanism for boosting consumption…We will improve policies that encourage consumption.” Premier Wen Jiabao 5th Session of the 11th National People’s Congress 5 March
Slide 25: Potential Appreciation of the Renminbi
Potential Appreciation of the Renminbi • CRCT derives 100% revenue in Renminbi (RMB) terms • Proxy for exposure to RMB RMB as an International Reserve Currency “…I see no reason for the renminbi not to reach the status of an international reserve currency and occupy a position on par with China’s ec
Slide 26: Key Investment Highlights
Key Investment Highlights Unique vehicle offering unparalleled growth potential Proven track record underpinned by strong cash flow Mid to long term appreciation of RMB Most resilient sector during through economic cycles Strong sponsor with secured acquisition pipeline 25 CRCT Investor Pr
Slide 27: First and Only China Shopping Mall S-REIT
First and Only China Shopping Mall S-REIT For enquiries, please contact: Mark Wai Ling (Ms) Investor Relations Tel: +65 6826 5521 Fax: +65 6536 3884 Email: mark.wailing@capitaland.com http://www.capitaretailchina.com 26 CRCT Investor Presentation *March 2012*
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