Keppel REIT · SGX:K71U
Keppel REIT — Shareholder Meeting (April 2017)
14 slides from Keppel REIT's shareholder meeting presentation, Apr 21, 2017
Slide 1: Annual General Meeting 21 April 2017
Annual General Meeting 21 April 2017
Slide 2: Important Notice
IMPORTANT NOTICE: The past performance of Keppel REIT is not necessarily indicative of its future performance. Certain statements made in this presentation may not be based on historical information or facts and may be “forward- looking” statements due to a number of risks, uncertainties and assumpt
Slide 3: Portfolio Overview
Portfolio Overview Best-in-Class Assets Largest Portfolio of Assets Under Well-Diversified in Strategic Locations Premium Office Assets Management Tenant Base 11 office towers in 8 quality Over 300 tenants Premium Grade and Grade A assets 3.3 million sf S$8.4 billion diversified across various in th
Slide 4: Premium Grade A Office Portfolio
Premium Grade A Office Portfolio Singapore* 89% Ocean Financial Centre Marina Bay Financial Centre One Raffles Quay Bugis Junction Towers (99.9% interest) (33.3% interest) (33.3% interest) (100% interest) Australia* 11% 8 Chifley Square, 8 Exhibition Street, 275 George Street, David Malcolm Sydney M
Slide 5: Growth Record
Growth Record 8 Exhibition Street 77 King Street Bugis Junction Towers MBFC Phase One Office Tower on the MBFC Tower 3 Prudential Tower 275 George Street 8 Chifley Square Old Treasury Building site Acquired the three Divested 77 One Raffles Quay Increased Divested stake in remaining prime King Stree
Slide 6: Portfolio Capital Appreciation
Portfolio Capital Appreciation (1) ‒ Appreciation of approximately 21% for the current portfolio ‒ Approximately S$1.5 billion in unrealised capital gains to-date Singapore portfolio Australia portfolio S$334.2m S$328.2m S$2,674.8m S$331.5m S$2,298.8m S$4.5m S$38.1m S$11.9m S$35.6m S$941.5m S$209.4m
Slide 7: Key Highlights for FY 2016
Key Highlights for FY 2016 $208.1 mil 6.37 cents 6.2% (1) Distributable Income DPU Distribution Yield Financial Highlights & Aggregate leverage at 38.5% All-in interest ICR Capital 2.51% at 4.7x Management No refinancing requirements 75% fixed-rate loans until 2018 84% unencumbered assets Concluded
Slide 8: Minimal Leasing Risk in 2017
Minimal Leasing Risk in 2017 Portfolio Lease Profile (By Attributable NLA) as at 31 December 2016 50.1% 21.2% 15.4% 11.7% 7.1% 6.1% 5.2% 4.2% 4.9% 3.9% 1.6% 1.7% 2017 2018 2019 2020 2021 2022 and beyond Lease expiry as a % of attributable NLA Rent review as a % of attributable NLA 8
Slide 9: Long Weighted Average Lease Expiry
Long Weighted Average Lease Expiry Weighted Average Lease Expiry (WALE) (1) Top Ten (1) Tenants(2) Top Ten Tenants - 44% of portfolio NLA - 40% of gross rental income Approx. 9 years (till year 2025) DBS Bank 6.2% ANZ 5.7% Western Australian Govt 5.0% Approx. 6 years (till year 2022) BNP Paribas 4.8
Slide 10: High Committed Occupancy Levels
High Committed Occupancy Levels Singapore Australia Overall 99.1% 99.4% 99.2% 99.3% 99.8% 100.0% 99.3% 100.0% 100.0% 99.2% 98.8% 93.7% (1) Singapore core CBD occupancy at 95.8% Australia total CBD occupancy at 88.0%(2) Bugis Junction Ocean Marina Bay One Raffles 275 George 8 Exhibition 8 Chifley Dav
Slide 11: Well-Diversified Tenant Base
Well-Diversified Tenant Base Tenant Business Sector Analysis by Committed NLA Concluded 136 leases in FY 2016 as at 31 December 2016 307(1) Tenants (1) 44.6% 9.8% 9.6% 8.9% 8.0% 7.5% 5.3% 2.0% 1.8% 1.4% 1.1% (1) Tenants with multiple leases were accounted as one tenant. 11
Slide 12: Key Highlights for 1Q 2017
Key Highlights for 1Q 2017 $48.1 mil 1.45 cents Distributable Income DPU Financial Highlights & Aggregate leverage at 38.4% All-in interest ICR at Capital 2.57% 4.6x Management No refinancing requirements 75% fixed-rate loans until 2018 84% unencumbered assets Committed 10 leases or High committed p
Slide 13: Looking Ahead
Looking Ahead Portfolio Optimisation Strategy Selective Acquisitions - Stable income growth Capital appreciation - Opportunistic Divestments Unlock -value for Unitholders Uncertain global economic Borrowing costs likely to environment and competitive increase as a consequence of office leasing
Slide 14: Thank You
+) fa REIT Thank You