Keppel REIT · SGX:K71U
Keppel REIT — H1 2013 Earnings Presentation
35 slides from Keppel REIT's earnings presentation, Jul 15, 2013
Slide 1: First Half 2013 Financial Results
\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// First Half 2013 Financial Results 15 July 2013 1
Slide 2: Important Notice
Important Notice \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// The past performance of Keppel REIT is not necessarily
Slide 3: Growing from strength to strength
Growing from strength to strength \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Portfolio of nine quality commercial
Slide 4: Growth History
Growth History Office Tower at Old Treasury Building Bugis Junction 275 George 8 Chifley Square, site, Perth Towers Street, Brisbane Sydney Ocean Financial One Raffles Centre Quay Prudential Tower GE Tower 8 Exhibition Street, Melbourne • Increased interest 77 King Street, in OFC to 99.9% • Acquisit
Slide 5: Sterling Property Portfolio
Sterling Property Portfolio \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ Nine premium Grade A office assets valued at more than $6.6 billion ////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////
Slide 6: Contents
Contents \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// 1H 2013 Highlights Financial Highlights Capital Management Po
Slide 7: 1H 2013 Highlights
1H 2013 Highlights \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Delivers 6.1% distribution yield for 1H 2013 Distribu
Slide 8: 1H 2013 Highlights
1H 2013 Highlights \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Announced acquisition in Melbourne, Australia 50% int
Slide 9: 1H 2013 Highlights
1H 2013 Highlights \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Free-float increased to approximately 48.5% Inclusi
Slide 10: Ocean Financial Centre Phase 2
Ocean Financial Centre Phase 2 \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Canopy between the office tower and the U
Slide 11: Income-accretive Acquisition in Melbourne
Income-accretive Acquisition in Melbourne \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Announced acquisition of 50% i
Slide 12: Financial Highlights
\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Financial Highlights Ocean Prudential Financial Towers Tower 12
Slide 13: Distributable income up 6.8% y-o-y to $105m
Distributable income 6.8% y-o-y to $105m \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// 1H 2013 1H 2012 Change Prop
Slide 14: Distribution Per Unit
Distribution Per Unit \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// 1H 2013 DPU 2.6% y-o-y to 3.94 cents 2Q 2013 D
Slide 15: Healthy Balance Sheet
Healthy Balance Sheet \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// As at 30 June 2013 As at 31 Mar 2013 Non-current
Slide 16: Capital Management
\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Capital Management Prudential Prudential Towers Towers 16
Slide 17: Proactive Capital Management
Proactive Capital Management \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Completed all refinancing for 2013 Complete
Slide 18: Proactive Capital Management
Proactive Capital Management \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// As at 30 June 2013 Gross Borrowings $2,93
Slide 19: Portfolio Analysis
\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Portfolio Analysis MBFC Towers MBFC Phase 1 19
Slide 20: Strong Portfolio Occupancy at 99.1%
Strong Portfolio Occupancy at 99.1% \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Portfolio average occupancy to 99.
Slide 21: Stable Lease Portfolio
Stable Lease Portfolio \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Top ten tenants have long WALE of 9.0 years1 Weig
Slide 22: Well-staggered Lease Expiry Profile
Well-staggered Lease Expiry Profile \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Approximately 2.3% of portfolio NLA
Slide 23: Tenants Diversified Across Various Business Sectors
Tenants Diversified Across Various Business Sectors \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Retail (Exclude F&B
Slide 24: Blue-Chip Tenant Base
Blue-Chip Tenant Base \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Top ten tenants account for 43.2% of portfolio NLA
Slide 25: Market Review and Outlook
\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Market Review and Outlook Bugis BugisJunction JunctionTowers Towers 25
Slide 26: Office Market
Office Market \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Rents of premium grade office space in the core CBD of Raf
Slide 27: Economic and Office Market Outlook: Singapore
Singapore \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Asia Pacific region expected to experience a positive GDP grow
Slide 28: Economic and Office Market Outlook: Australia
Australia \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Normalisation of the Australian dollar seen as a good stimulus
Slide 29: Going Forward
\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Going Forward 8 Chifley Square 29
Slide 30: Vision and Mission
Vision \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\
Slide 31: Going Forward
Going Forward \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Proactive Lease Management Proactively manage leases due
Slide 32: Additional Information
\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Additional Information 275 275George GeorgeStreet Street 32
Slide 33: Portfolio Information
Portfolio Information \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// More than 92% of the Singapore portfolio is locate
Slide 34: Portfolio Information
Portfolio Information \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Office Tower to be built 275 George Street 77 King
Slide 35: http://www.keppelreit.com
\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// http://www.keppelreit.com For enquiries, please contact Mr. Dale Lai Inv