Sunway Real Estate Investment Trust · MYX:SUNREIT
Sunway Real Estate Investment Trust — 4Q2021 Earnings Presentation
62 slides from Sunway Real Estate Investment Trust's earnings presentation, Aug 30, 2021
Slide 1: Financial Results Fourth Quarter Ended 30 June 2021
FINANCIAL RESULTS Fourth Quarter Ended 30 June 2021 (FPE 31 December 2021) Date: 30 August 2021 1
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 (4Q2021) 2. Financial Results (4Q2021) 3. Portfolio Performance (4Q2021) 4. Property Development Activities 5. Market Outlook 6. Investor Relations Appendix - Property Performance (4Q2021) Empowering Businesses • Curating Experiences • Enriching Lives 3
Slide 4: Financial Highlights (4Q2021)
FINANCIAL HIGHLIGHTS (4Q2021) Empowering Businesses • Curating Experiences • Enriching Lives 4
Slide 5: Distribution Per Unit (DPU)
Distribution Per Unit (“DPU”) Half Yearly DPU (sen) Dividend Distribution Details Distribution Period 1 Jan 2021 - 30 June 2021 Distribution Per Unit (DPU) (sen) 1.63 Notice of Entitlement 30 August 2021 Ex-Dividend Date 14 September 2021 Book Closure Date 15 September 2021 Payment Date 29 September
Slide 6: 5-Year DPU
5-Year DPU 9.19 9.57 9.59 7.33 * 3.30 * * The distribution frequency has been changed from quarterly to semi–annual basis with effect from 3Q FY2020. This represents the DPU for 3Q & 4Q, being the semi–annual period ended 30 June 2020 and 30 June 2021. 5-Year DPU CAGR Distribution Yield -18.5% 2.3%
Slide 7: Financial Highlights – 4Q2021
Financial Highlights – 4Q2021 Highlights 4Q 2021 4Q 2020 No. of Properties 18 17 Property Value (RM'billion) 8.718 8.037 Units in Circulation 3,424,807,700 2,945,078,000 Unit Price as at 30 June 2021/2020 (RM) 1.43 1.62 Market Capitalisation (RM'billion) 4.897 4.771 Net Asset Value ("NAV") Per Unit
Slide 8: Financial Highlights – 4Q2021 (Cont'd)
Financial Highlights – 4Q2021 (Cont’d) Reported in RM’000 Gross Revenue for 4Q2021 decreased by 1.5% or RM1.5 million compared to 4Q2020 mainly due to unrealised unbilled lease income receivable recognised in 4Q2020 amounting to RM16.9 million.1 Without this 1.5% effect, 4Q2021 revenue was higher by
Slide 9: Financial Highlights – YTD 4Q2021
Financial Highlights – YTD 4Q2021 Reported in RM’000 Gross revenue Gross Revenue for YTD 4Q2021 decreased by 26.2% or YTD RM146.0 million compared to YTD 4Q2020. Without the 95,770 410,873 1 4Q2021 107,443 104,266 103,394 effect of unrealised unbilled lease income receivable, YTD 4Q2021 gross revenu
Slide 10: Financial Results (4Q2021)
FINANCIAL RESULTS (4Q2021) Empowering Businesses • Curating Experiences • Enriching Lives 10
Slide 11: Statement of Comprehensive Income – Consolidated
Statement of Comprehensive Income – Consolidated 4Q 2021 4Q 2020 Change YTD 2021 YTD 2020 Change RM'000 RM'000 % RM'000 RM'000 % Gross revenue 103,394 104,925 # -1.5% 410,873 556,875 # -26.2% Property operating expenses (41,046) (27,320) 50.2% (147,407) (140,066) 5.2% Net property income 62,348 77,6
Slide 12: Statement of Comprehensive Income – Consolidated (notes)
Statement of Comprehensive Income – Consolidated 1 Interest income for YTD 4Q2021 was higher by RM2.2 million compared to YTD 4Q2020 mainly contributed by higher deposits placed with financial institutions from proceeds received through private placement. 2 No valuation exercise was conducted during
Slide 13: Statement of Financial Position – Consolidated
Statement of Financial Position – Consolidated 30.06.2021 30.06.2020 30.06.2021 30.06.2020 (Unaudited) (Restated)^ (Unaudited) (Restated)^ RM'000 RM'000 RM'000 RM'000 ASSETS Units in circulation ('000 units) 3,424,808 2,945,078 Non-current assets Investment properties 8,700,895 1 8,020,233 Investmen
Slide 14: Statement of Financial Position – Consolidated (notes)
Statement of Financial Position – Consolidated 1 Investment properties increased by RM680.7 million pursuant to the completion of the acquisition of The Pinnacle Sunway on 20 Nov 2020 as well as on-going capital expenditure mainly for the expansion of Sunway Carnival Shopping Mall and Sunway Resort
Slide 15: Statement of Cash Flows – Consolidated
Statement of Cash Flows – Consolidated Cumulative Quarter ended 30.06.2020 30.06.2021 (Restated) * 1 Net cash from operating activities for YTD 4Q2021 of RM'000 RM'000 RM284.1 million was lower by RM60.8 million compared OPERATING ACTIVITIES to YTD 4Q2020 mainly attributable to lower collection Cash
Slide 16: Financing Profile as at 30 June 2021
Financing Profile as at 30 June 2021 Facility Limit Amount RM'million RM'million Revolving Loan (USD) USD95.5million 394.4 1 Commercial Papers (CP) / 2 3,000.0 1,600.0 Revolving Loan (RL) 3 Unrated MTNs 10,000.0 1,400.0 Perpetual Total Gross Borrowings 3,394.4 Note Unamortised transaction costs (0.3
Slide 17: Portfolio Performance (4Q2021)
PORTFOLIO PERFORMANCE (4Q2021) Empowering Businesses • Curating Experiences • Enriching Lives 17
Slide 18: Revenue & NPI growth in 4Q2021 – Realised
Revenue & NPI growth in 4Q2021 – Realised Reported in RM’million Retail Hotel Office 24% 86% Revenue 8% 4Q2021 19.3 58.6 8.7 4Q2020 54.1 7.0 10.4 NPI 21% 25% 102% 4Q2021 25.5 7.0 12.9 4Q2020 32.1 5.6 6.4 The retail segment recorded The hotel segment recorded The office segment recorded gross Notes g
Slide 19: Revenue & NPI growth in 4Q2021 – Realised (Cont'd)
Revenue & NPI growth in 4Q2021 – Realised (Cont’d) Reported in RM’million Services 3% Industrial & Others Overall 18% Revenue 4Q2021 15.3 1.5 103.4 4Q2020 14.9 1.5 88.0 3% NPI 3% 4Q2021 15.3 1.5 62.3 4Q2020 14.9 1.5 60.7 The services segment Sunway REIT Industrial - Shah Revenue of the portfolio Not
Slide 20: Revenue & NPI growth in YTD 4Q2021 – Realised
Revenue & NPI growth in YTD 4Q2021 – Realised Reported in RM’million Retail Hotel Office Revenue 32% 51% YTD 4Q2021 246.7 33.8 63.6 YTD 4Q2020 364.7 68.5 41.7 53% NPI 49% 56% YTD 4Q2021 127.5 27.6 41.5 YTD 4Q2020 248.5 62.3 24.0 73% The retail segment recorded YTD The hotel segment recorded YTD The
Slide 21: Revenue & NPI growth in YTD 4Q2021 – Realised (Cont'd)
Revenue & NPI growth in YTD 4Q2021 – Realised (Cont’d) Reported in RM’million Services Industrial & Others Overall Revenue 3% 24% YTD 4Q2021 60.6 6.2 410.9 YTD 4Q2020 58.9 6.2 539.9 3% NPI 34% YTD 4Q2021 60.6 6.2 263.5 YTD 4Q2020 58.9 6.2 399.9 The services segment Sunway REIT Industrial - Shah Reve
Slide 22: 4Q2021 and YTD 4Q2021 Revenue Contribution (by Property)
4Q2021 and YTD 4Q2021 Revenue Contribution (by Property) YTD 4Q YTD 4Q 4Q 2021 4Q 2020 Variance Change 2021 2020 Variance Change By Property RM'mil RM'mil RM'mil % RM'mil RM'mil RM'mil % Sunway Pyramid Mall 40.3 41.2 (1.0) -2.3% 178.2 279.0 (100.8) -36.1% Sunway Carnival Mall 7.3 5.5 1.9 34.6% 31.6
Slide 23: 4Q2021 NPI and NPI Margin Contribution (by Property)
4Q2021 NPI and NPI Margin Contribution (by Property) NPI NPI Margin 4Q 2021 4Q 2020 Variance Change 4Q 2021 4Q 2020 Variance By Property RM'mil RM'mil RM'mil % % % % Sunway Pyramid Mall 18.3 27.6 (9.4) -33.9% 45.3% 67.0% -21.7% Sunway Carnival Mall 3.4 2.0 1.4 71.5% 46.4% 36.4% 10.0% SunCity Ipoh Hy
Slide 24: YTD 4Q2021 NPI and NPI Margin Contribution (by Property)
YTD 4Q2021 NPI and NPI Margin Contribution (by Property) NPI NPI Margin YTD 4Q 2021 YTD 4Q 2020 Variance Change YTD 4Q 2021 YTD 4Q 2020 Variance By Property RM'mil RM'mil RM'mil % % % % Sunway Pyramid Mall 98.1 204.8 (106.7) -52.1% 55.1% 73.4% -18.4% Sunway Carnival Mall 15.8 22.3 (6.4) -28.9% 50.2%
Slide 25: Key Performance Indicators – YTD 4Q2021
Key Performance Indicators – YTD 4Q2021 Industrial & Retail Hotel Office Services Others 2 YTD 4Q 2021 2020 2021 2020 2021 2020 2021 2020 2021 2020 Average 1 Occupancy 96% 95% 26% 53% 84% 78% 100% 100% 100% 100% Rates NPI Margin 68% 68% 91% 91% 58% 58% 100% 100% 100% 100% Notes: 1. Excludes Sunway R
Slide 26: Property Development Activities (4Q2021)
PROPERTY DEVELOPMENT ACTIVITIES (4Q2021) Empowering Businesses • Curating Experiences • Enriching Lives 26
Slide 27: Property Development Activities
Property Development Activities Expansion of Sunway Carnival Shopping Mall Sunway Resort Hotel Refurbishment Estimated total property development RM436.0 million # RM261.0 million cost (including land) Cummulative cost incurred from initiation RM211.2 million RM84.3 million to YTD 4Q2021 Expected co
Slide 28: General Outlook
General Outlook o The economic prospects across countries have diverged further on the back of differing inoculation rates and countries’ access to vaccines. The International Monetary Fund (IMF) maintained its global economic growth projection at 6.0% in CY2021 (unchanged from IMF’s forecast in Apr
Slide 29: General Outlook (cont'd)
General Outlook (cont’d) o On the domestic front, Malaysia’s gross domestic product (GDP) soared by 16.1% in 2Q CY2021 (GDP 2Q CY2020: -17.2%), boosted by continued improvement in most economic sectors, led by manufacturing and services sectors, strong external demand and improvement in domestic dem
Slide 30: General Outlook (cont'd)
General Outlook (cont’d) o The government has introduced the National Recovery Plan (NRP), a four-phase exit strategy from the COVID-19 crisis, which is contingent on three core indicators, that is, symptomatic admission cases, bed utilisation rate in intensive care unit (ICU) wards and inoculation
Slide 31: General Outlook (cont'd)
General Outlook (cont’d) o The Monetary Policy Committee (MPC) of BNM has maintained the Overnight Policy Rate (OPR) at 1.75%, consistent with BNM’s accommodative policy stance to support the economic activities amidst heightened economic uncertainties during the various phases of NRP and prolonged
Slide 32: General Outlook (cont'd)
General Outlook (cont’d) o The Manager maintains a cautious outlook for the remaining period in FP2021 due to the uncertainties surrounding the success in containing the COVID-19 cases in Malaysia, political stability and heightened macroeconomic headwinds. o Sunway REIT continues to place high prio
Slide 33: Retail Segment
Retail Segment o Retail Group Malaysia revised its retail sales growth to between 1% and 2% in CY2021, from an earlier forecast of 4%, on the back of the uncertainties surrounding the of COVID-19 and stricter containment measures during the lockdown period. o The Malaysian Institute of Economic Rese
Slide 34: Retail Segment
Retail Segment o Under the PEMULIH package, the government continued to assist to reduce the burden of businesses in managing operating costs through the extension of electricity tariff rebate to December 2021 and wage subsidy programme for a period of four months. o The Retail Industry Vaccination
Slide 35: Hotel Segment
Hotel Segment o The Malaysian Association of Hotels (MAH) has reported an average occupancy rate of 20% for hotels in Malaysia, on the back of persistently high daily COVID- 19 cases and strict restrictions which constrict the recovery of the tourism industry. Since the start of MCO in March 2020, M
Slide 36: Hotel Segment
Hotel Segment o Under the PEMULIH stimulus package, the government has extended a 10% electricity tariff discounts to affected economic sectors and waiver of tourism tax and services tax for hotel operators until 31 December 2021. o The Manager expects the hotel segment to remain challenging on the
Slide 37: Office Segment
Office Segment o The implementation of the CMCO in early March 2021, followed by FMCO in June 2021, where only essential services were allowed to operate, has weighed on the nascent economic recovery. Businesses are required to continue with the implementation of rotational schedules and work from h
Slide 38: Industrial & Others Segment
Industrial & Others Segment o The manufacturing sector in Malaysia expanded by 26.6% in 2Q CY2021 (1Q CY2021: 6.6%) on the back of robust external demand for electronics and electrical (E&E) products. The sector is anticipated to remain resilient amid the continued global tech upcycle and recovery i
Slide 39: Unit Price Performance from IPO to 4Q FP2021
Unit Price Performance from IPO to 4Q FP20211 Unit Price Performance of Sunway REIT versus Benchmarks (8 July 2010 – 30 June 2021) 200.0% GPR APREA Composite REIT Index - Malaysia +134.2% 150.0% 100.0% Sunway REIT +58.9% 50.0% FBM KLCI +16.5% 0.0% 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 20
Slide 40: Unit Price YTD Performance for FP2021
Unit Price YTD Performance for FP2021 Unit Price Performance of Sunway REIT versus Benchmarks (1 July 2020 – 30 June 2021) 15.0% FBM KLCI 10.0% +2.1% 5.0% 0.0% Bursa Malaysia REIT Index -5.0% -7.8% -10.0% -15.0% Sunway REIT -20.0% -11.7% Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Performance Stati
Slide 41: Indices Representation
Indices Representation o FTSE Bursa Malaysia Mid 70 Index o FTSE Bursa Malaysia Emas o FTSE Bursa Malaysia Top 100 Index Index o Bursa Malaysia REIT Index o FTSE ASEAN All-Share Index o FTSE ASEAN Malaysia Index o FTSE ASEAN All-Share ex Developed Index o FTSE4Good Bursa Malaysia Index o GPR APREA C
Slide 42: Unitholders' Composition (as at 30 June 2021)
Unitholders’ Composition (as at 30 June 2021) Retail Foreign 5.9% 7.2% Sunway Berhad Institutions & 40.9% Corporates 53.2% Domestic 92.8% June 2021 March 2021 Q-o-Q Change No of unitholders 27,392 26,074 +1,318 (4.1%) Retail unitholders 5.9% 5.7%1 0.2% Foreign unitholders 7.2% 7.2% +0.1% Sunway Berh
Slide 43: Analysts Recommendation (as at June 2021)
Analysts Recommendation (as at 30 June 2021) 15.4 16.1 Unit Price: RM1.43 14.7 Average TP: RM1.48 8.4 8.4 4.9 1.65 1.64 1.55 1.66 1.55 1.45 1.4 1.45 1.4 1.45 1.4 1.45 1.4 1.44 0.7 1.40 1.38 1.38 1.50 1.43 1.30 0.0 (2.1) (3.5) (3.5) (9.1) TA Research UOB Kay Hian SJ Securities CLSA AmInvestment Bank
Slide 44: Comparative Yields for Various Assets
Comparative Yields for Various Assets 6.0% 5.37%2 5.20%5 5.0% 4.0% 3.21%1 3.24%3 3.0% 2.0% 1.70%4 1.75%6 1.0% 0.0% Sunway REIT M-REITs 10-Year MGS Fixed Deposit EPF Yield OPR Note: 1 Distribution yield is computed based on annualised FY2021 DPU of 4.59 sen (annualised based on 18-month consensus DPU
Slide 45: Awards and Recognition (FP 2021)
Awards and Recognition (FP 2021) GOLD WINNER – NACRA EXCELLENCE AWARDS ASEAN CG INDUSTRY EXCELLENCE AWARDS (2020) COMPANIES WITH RM2B TO RM10B IN MKT CAP REAL ESTATE INVESTMENT TRUST GOLD WINNER (2021) GOLD WINNER (2021) – ANNUAL REPORT (PDF) REAL ESTATE INVESTMENT TRUST BEST IR PROFESSIONAL (2020)
Slide 46: Appendix: Property Performance (4Q2021)
APPENDIX: PROPERTY PERFORMANCE (4Q2021) Empowering Businesses • Curating Experiences • Enriching Lives 46
Slide 47: Retail Properties – Sunway Pyramid Shopping Mall
RETAIL PROPERTIES – Sunway Pyramid Shopping Mall Average occupancy rate Projected lease expiry schedule 60.0% 100.0% 98.9% 98.2% 98.0% 97.6% 97.6% 50.0% 48.5% 96.7% 95.0% 40.0% 90.0% 30.1% 30.0% 85.0% 20.0% 12.0% 80.0% 10.0% 2.9% 3.2% 75.0% 0.0% Jun-17 Jun-18 Jun-19 Jun-20 YTD 4Q YTD 4Q FP2021 FY202
Slide 48: Retail Properties – Sunway Carnival Shopping Mall
RETAIL PROPERTIES – Sunway Carnival Shopping Mall Average occupancy rate Projected lease expiry schedule 60.0% 100.0% 97.6% 97.3% 97.4% 49.0% 50.1% 95.7% 95.7% 50.0% 95.0% 93.7% 40.0% 90.0% 85.0% 30.0% 80.0% 20.0% 75.0% 10.0% 70.0% 0.2% 0.1% Jun-17 Jun-18 Jun-19 Jun-20 YTD 4Q YTD 4Q 0.0% 2021 2020 F
Slide 49: Retail Properties – SunCity Ipoh Hypermarket
RETAIL PROPERTIES – SunCity Ipoh Hypermarket Average occupancy rate 100% 100% 100% 100% 100% 90% 86% 86% 80% 70% 60% 50% Jun-17 Jun-18 Jun-19 Jun-20 YTD 4Q YTD 4Q 2021 2020 SunCity Ipoh Hypermarket replaced its single tenant which ended on 30 April 2020 with new single tenant TF Value-Mart which com
Slide 50: Retail Properties – Sunway Putra Mall
RETAIL PROPERTIES – Sunway Putra Mall Projected lease expiry schedule Average occupancy rate 60.0% 100.0% 92.9% 93.4% 92.9% 90.7% 90.4% 48.8% 86.3% 80.0% 40.0% 60.0% 40.0% 19.3% 20.0% 15.9% 20.0% 6.7% 0.2% 0.0% 0.0% Jun-17 Jun-18 Jun-19 Jun-20 YTD 4Q YTD 4Q FP2021 FY2022 FY2023 Beyond Monthly 2021 2
Slide 51: Retail Properties – Sunway Clio Retail
RETAIL PROPERTIES – Sunway Clio Retail Projected lease expiry schedule Average occupancy rate 60.0% 100.0% 91.8% 52.4% 89.7% 50.0% 80.0% 72.4% 72.4% 65.8% 40.0% 37.8% 60.0% 30.0% 37.6% 40.0% 20.0% 20.0% 10.0% 0.0% Jun-17 Jun-18 Jun-19 Jun-20 YTD 4Q YTD 4Q 0.0% 2021 2020 FP2021 FY2022 Note : The acqu
Slide 52: Hospitality Properties – Sunway Resort Hotel
HOSPITALITY PROPERTIES – Sunway Resort Hotel Average occupancy rate 100.0% 81.5% 80.0% 73.5% 65.4% 60.0% 49.5% 49.5% 40.0% 20.0% 0.0% Jun-17 Jun-18 Jun-19 Jun-20 YTD 4Q YTD 4Q 2021 2020 Note 1: The hotel properties are under 10-year master leases. The master lease of Sunway Resort Hotel was renewed
Slide 53: Hospitality Properties – Sunway Pyramid Hotel
HOSPITALITY PROPERTIES – Sunway Pyramid Hotel Average occupancy rate 100.0% 80.0% 71.4% 68.1% 56.8% 58.7% 58.7% 60.0% 40.0% 26.2% 20.0% 0.0% Jun-17 Jun-18 Jun-19 Jun-20 YTD 4Q YTD 4Q 2021 2020 Note: The hotel properties are under 10-year master leases. The master lease of Sunway Pyramid Hotel was re
Slide 54: Hospitality Properties – Sunway Clio Hotel
HOSPITALITY PROPERTIES – Sunway Clio Hotel Average occupancy rate 100.0% 80.0% 72.3% 74.4% 71.5% 58.4% 58.4% 60.0% 40.0% 32.9% 20.0% 0.0% Jun-17 Jun-18 Jun-19 Jun-20 YTD 4Q YTD 4Q 2021 2020 Note: The hotel properties are under 10-year master leases. The master lease of Sunway Clio Hotel is expiring
Slide 55: Hospitality Properties – Sunway Hotel Seberang Jaya
HOSPITALITY PROPERTIES – Sunway Hotel Seberang Jaya Average occupancy rate 100.0% 80.0% 76.4% 74.7% 71.1% 60.0% 50.7% 50.7% 40.3% 40.0% 20.0% 0.0% Jun-17 Jun-18 Jun-19 Jun-20 YTD 4Q YTD 4Q 2021 2020 Note: The hotel properties are under 10-year master leases. The master lease of Sunway Hotel Seberang
Slide 56: Hospitality Properties – Sunway Putra Hotel
HOSPITALITY PROPERTIES – Sunway Putra Hotel Average occupancy rate 80.0% 72.8% 68.2% 62.4% 60.0% 48.0% 48.0% 40.0% 21.5% 20.0% 0.0% Jun-17 Jun-18 Jun-19 Jun-20 YTD 4Q YTD 4Q 2021 2020 Note: The hotel properties are under 10-year master leases. The master lease of Sunway Putra Hotel is expiring in Se
Slide 57: Hospitality Properties – Sunway Hotel Georgetown
HOSPITALITY PROPERTIES – Sunway Hotel Georgetown Average occupancy rate 100.0% 91.8% 87.7% 84.5% 80.0% 60.0% 52.6% 52.6% 40.0% 20.0% 13.1% 0.0% Jun-17 Jun-18 Jun-19 Jun-20 YTD 4Q YTD 4Q 2021 2020 Note: The hotel properties are under 10-year master leases. The master lease of Sunway Hotel Georgetown
Slide 58: Office Properties – Menara Sunway
OFFICE PROPERTIES – Menara Sunway Average occupancy rate Projected lease expiry schedule 100.0% 100.0% 97.3% 97.7% 97.3% 94.8% 80.0% 95.0% 93.8% 92.1% 60.0% 56.0% 90.0% 85.0% 40.0% 21.7% 80.0% 20.0% 10.3% 8.6% 75.0% 0.0% Jun-17 Jun-18 Jun-19 Jun-20 YTD 4Q YTD 4Q 2021 2020 FP2021 FY2022 FY2023 Beyond
Slide 59: Office Properties – Sunway Tower
OFFICE PROPERTIES – Sunway Tower Projected lease expiry schedule Average occupancy rate 18.0% 40.0% 16.0% 32.9% 33.5% 32.9% 15.0% 14.1% 30.0% 12.0% 20.7% 21.0% 20.1% 20.0% 9.0% 6.0% 10.0% 3.0% 1.1% 0.0% Jun-17 Jun-18 Jun-19 Jun-20 YTD 4Q YTD 4Q 0.0% 2021 2020 FP2021 FY2022 FY2023 YTD 4Q2021 average
Slide 60: Office Properties – Sunway Putra Tower
OFFICE PROPERTIES – Sunway Putra Tower Projected lease expiry schedule Average occupancy rate 40.0% 100.0% 85.5% 83.0% 85.5% 33.4% 82.0% 80.0% 30.0% 27.0% 60.0% 56.0% 22.6% 20.0% 40.0% 36.6% 20.0% 10.0% 0.0% Jun-17 Jun-18 Jun-19 Jun-20 YTD 4Q YTD 4Q 0.0% 2021 2020 FP2021 FY2022 FY2023 YTD 4Q2021 ave
Slide 61: Office Properties – Wisma Sunway
OFFICE PROPERTIES – Wisma Sunway Projected lease expiry schedule Average occupancy rate 70.0% 100.0% 100% 100.0% 100.0% 94.1% 86.9% 60.0% 57.4% 78.3% 80.0% 50.0% 60.0% 40.0% 30.0% 40.0% 23.9% 18.6% 20.0% 20.0% 10.0% 0.0% Jun-17 Jun-18 Jun-19 Jun-20 YTD 4Q YTD 4Q 0.0% 2021 2020 FP2021 FY2022 FY2023 T
Slide 62: Office Properties – The Pinnacle Sunway
OFFICE PROPERTIES – The Pinnacle Sunway Average occupancy rate Projected lease expiry schedule 96.9% 97.1% 99.3% 99.5% 97.5% 99.5% 100.0% 50.0% 80.0% 39.1% 38.9% 40.0% 60.0% 30.0% 40.0% 20.0% 17.1% 20.0% 10.0% 0.0% 1.1% Jun-17 Jun-18 Jun-19 Jun-20 YTD 4Q YTD 4Q 2021 2020 0.0% FP2021 FY2022 FY2023 Be
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