CapitaLand Integrated Commercial Trust · SGX:C38U
CapitaLand Integrated Commercial Trust — Raffles City Singapore — Q2 2020 Earnings Presentation
13 slides from CapitaLand Integrated Commercial Trust's earnings presentation, Jul 22, 2020
Slide 1: Raffles City Singapore 2Q 2020 Financial Results
RAFFLES CITY SINGAPORE 2Q 2020 Financial Results 22 July 2020
Slide 2: Important Notice
Important Notice This presentation shall be read in conjunction with CCT and CMT’s 2Q 2020 Unaudited Financial Statement Announcement. This presentation may contain forward-looking statements. Actual future performance, outcomes and results may differ materially from those expressed in forward-looki
Slide 3: COVID-19 (Temporary Measures) (Amendment) Bill passed on 5 June 2020
COVID-19 (Temporary Measures) (Amendment) Bill passed on 5 June 2020 Bill requires landlords to match government’s financial support to qualifying Small and Medium Enterprise (SME) tenants. Awaiting notification from Inland Revenue Authority of Singapore’s assessment of tenants that qualify Retail H
Slide 4: Raffles City Singapore
Raffles City Singapore Ownership (interest) CapitaLand Commercial Trust (60.0%) and CapitaLand Mall Trust (40.0%) Description 42-storey Raffles City Tower, 5-storey Raffles City Shopping Centre, Raffles City Convention Centre, the 73-storey Swissôtel The Stamford Singapore and the 28-storey twin-tow
Slide 5: 1H 2020 Net Property Income down by 17.0%
1H 2020 Net Property Income down by 17.0% Lower revenue and NPI mainly due to rent waivers to tenants of $10.8 million, decline in gross turnover revenue especially from the hotels, lower office occupancy and car park income 1H 2019 1H 2020 117.3 S$ million 97.7 91.1 75.6 Gross Revenue Net Property
Slide 6: Contribution by sectors in 1H 2020
Contribution by sectors in 1H 2020 Office, 19.0% Hotels & Convention Gross Rental Centre, 41.8% Income 1H 2020 Retail, 39.2% Based on Gross Rental Income from 1 January 2020 to 30 June 2020; excluding retail turnover rent 6
Slide 7: Diversified Tenant Mix
Diversified Tenant Mix Hospitality Hospitality 36.0% Food Foodand andBeverage Beverage 15.0% Department DepartmentStore Store 8.3% Fashion Fashion 8.2% Government Government 6.3% BusinessConsultancy, Business Consultancy,IT,IT,Media Mediaand andTelecommunications Telecommunications 5.5% Monthly Beau
Slide 8: High committed occupancy
High committed occupancy 99.7% 100.0% 99.4% 99.7% 99.6% 98.9% 97.2% 98.1% 98.5% 95.8%97.8% 96.4%98.3% 95.6% 97.6% 94.6% 92.2% 91.3% 2016 2017 2018 2019 31-Mar-20 30-Jun-20 Retail Office RCS= weighted average of retail and office occupancy 8
Slide 9: High retention rate achieved for retail leasing in 1H 2020
High retention rate achieved for retail leasing in 1H 2020 Retail Leasing from 1 January to 30 June 2020 (excluding newly created and reconfigured units) No. of Renewals/New Leases 20 Leased Net Lettable Area (NLA) 25,026 sq ft % of Mall’s NLA 5.9% Retention Rate 80.0% % Change in Current Rental Rat
Slide 10: Well spread lease expiry profile
(1) Well spread lease expiry profile 33.8% 16.4% 13.0% 12.5% 6.0% 3.9% 4.0% 2.5% 2.1% 2.9% 1.9% 0.5% 0.5% 2020 2021 2022 2023 2024 2025 and beyond Office Retail (excluding turnover rent) Hotels & Convention Centre (excluding turnover rent) Note: (1) Lease expiry profile based committed monthly gross
Slide 11: Renewed lease with major office tenant EDB, ahead of expiry in 2021
Renewed lease with major office tenant EDB, ahead of expiry in 2021 Core CBD: Grade A and Grade B office monthly market rent (1) at $11.15 psf and $8.45 psf respectively % of office lease expiry Per sq ft / month 30% $16.00 $14.00 25% $12.00 20% $9.68 $9.14 $10.00 $8.46 15% $8.00 $6.00 10% $4.00 5%
Slide 12: Completed refinancing for 2020
Completed refinancing for 2020 RCS debt maturity profile as at 30 Jun 2020 S$ million 275 150 300 180 200 100 Completed 4 0 2020 2021 2022 2023 2024 2025 Bank loans MTN • Unsecured RCS bank loans due 2021, 2022, 2024 and 2025 • 2.60% p.a. RCS fixed rate S$300m MTN due 2023 • 3.05% p.a. RCS fixed rat
Slide 13: Thank you
Thank you CapitaLand Commercial Trust Management Limited CapitaLand Mall Trust Management Limited (http://www.cct.com.sg) (http://www.cmt.com.sg) 168 Robinson Road, #28-00 Capital Tower, Singapore 068912 168 Robinson Road, #25-00 Capital Tower, Singapore 068912 Ms Ho Mei Peng , Head, Investor Relati
Raffles City Singapore — Q2 2020 Earnings Presentation on 6ix