1Q FY 2022/23 Financial Results
27 October 2022
Singapore Australia Malaysia Japan China
Contents
- Overview and Key Highlights
- Portfolio Updates
- Market Outlook
2
Overview and Key Highlights
Ngee Ann City Singapore
Overview of Starhill Global REIT
Prime retail portfolio in key Asia Pacific cities
Quality Assets
- Portfolio of ~S$2.9 billion
- 10 mid- to high-endpredominantly retail properties in six key Asia Pacific cities
Strategic Locations
- Landmark assets at prime locations
- Excellent connectivity to transportation hubs
- Appeals to both local and international brands
Diversified Portfolio
- Core markets: Singapore, Australia, Malaysia
-
Contribution to 1Q FY22/23 revenue:
Retail (~86%) & Office (~14%)
Strong Sponsor
- YTL Group owns ~37.7% of SGREIT
- Has a combined market capitalisation of US$3.4 billion(1)
Income Visibility
- Master/anchor leases with periodic rental reviews make up ~53% of gross rent(2)
- Staggered portfolio lease expiry profile and resilient occupancy
Healthy Financials
- "BBB" credit rating with stable outlook by Fitch Ratings
- Gearing of 36.5%(2) and weighted average debt maturity of 3.2 years(2)
Notes:
- Market capitalisation of YTL Corporation Berhad and its listed entities in Malaysia, as at 30 September 2022.
- As at 30 September 2022.
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Key Highlights for 1Q FY22/23
Financial
Performance
Gross Revenue
S$47.6 million
6.2% y-o-y
Net Property Income
S$37.2 million
8.4% y-o-y
Note:
1. Based on committed leases as at reporting date.
Resilient
Operational Performance
Committed
Portfolio Occupancy
96.9%(1)
as at 30 Sep 2022
Long WALE
7.0 years
by NLA
Expiring leases by gross rent in FY22/23
10.5%
as at 30 Sep 2022
Prudent
Capital Management
Gearing
36.5%
as at 30 Sep 2022
Staggered Debt Maturity Profile averaging
3.2 years
Fixed/Hedged Ratio
84%
of borrowings
as at 30 Sep 2022
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