Financial InformationFinancial Highlights

  • Summary of CRCT Results
      3Q 2018 3Q 2017   YTD 2018 YTD 20171  
      Actual
    S$'000
    Actual
    S$'000
    Change
    %
    Actual
    S$'000
    Actual
    S$'000<
    Change
    %
    Gross Revenue2 55,352 55,989 (1.1) 166,997 175,083 (4.6)
    Net Property Income2 36,732 35,951 2.2 111,545 116,225 (4.0)
    Distributable income
    contribution from joint venture3
    1,847 - 100.0 5,077 >- 100.0
    Distributable amount to Unitholders 23,647 21,409 10.5 76,007 69,101 10.0
    Distribution Per Unit ("DPU") (cents)
    For the period4 2.41 2.37 1.7 7.80 7.73 0.9
    Annualised 9.56 9.40 1.7 10.43 10.33 1.0
    For information Only
    DPU (cents) (adjusted with the enlarged Units in issue)5 2.41 2.22 8.6 7.80 7.22 8.0
     
      3Q 2018 3Q 2017   YTD 2018 YTD 20171  
      Actual
    RMB'000
    Actual
    RMB'000
    Change
    %
    Actual
    RMB'000
    Actual
    RMB'000
    Change
    %
    Gross Revenue 274,013 274,959 (0.3) 811,256 857,354 (5.4)
    Net Property Income 181,856 176,570 3.0 541,878 569,126 (4.8)

    Footnotes:

    1. The financial results exclude CapitaMall Anzhen which was divested with effect from 1 July 2017.
    2. Average exchange rate for SGD/RMB.
    3Q 2018 3Q 2017 Change % YTD 2018 YTD 2017 Change %
    4.950 4.911 (0.8) 4.858 4.897 0.8
    1. This relates to 51% interest in Rock Square for 3Q 2018 and for period from 1 February 2018 to 30 September 2018.
    2. 3Q 2018 DPU was based on 980.5 million Units. YTD 2018 DPU was based on 969.9 million Units from 1 January 2018 to 30 June 2018 and 980.5 million Units from 1 July 2018 to 30 September 2018. 3Q 2017 DPU was based on 901.8 million Units. YTD 2017 DPU was based on 888.7 million Units from 1 January 2017 to 30 June 2017 and 901.8 million Units from 1 July 2017 to 30 September 2017
    3. Adjusted DPU for 3Q 2017 of 2.22 cents was based on 966.2 million Units and YTD 2017 of 7.22 cents was based on 953.1 million Units from 1 January 2017 to 30 June 2017 and 966.2 million Units from 1 July 2017 to 30 September 2017.
  • Statement of Total Return for the Group (3Q 2018 vs 3Q 2017)
      Group
      3Q 2018
    S$'000
    3Q 2017
    S$'000
    %
    Change
    Gross rental income 51,258 51,395 (0.3)
    Other income2 4,094 4,594 (10.9)
    Gross revenue 55,352 55,989 (1.1)
    Land rental (1,411) (1,479) (4.6)
    Property related tax (5,056) (5,776) (12.5)
    Business tax (305) (294) 3.7 
    Property management fees3 (3,574) (3,409) 4.8
    Other property operating expenses4 (8,274) (9,080) (8.9)
    Total property operating expenses (18,620) (20,038) (7.1)
    Net property income 36,732 35,951 2.2
    Manager's management fees - Base fee (1,909) (1,751) 9.0
    Manager's management fees - Performance fees 1,603) (1,445) 10.9
    Trustee's fees (117) (108) 8.3
    Audit fees (112) (107) 4.7 
    Valuation fees (55) (56) (1.8)
    Other trust operating (expenses)/income5 (318) 279 N.M.
    Finance income6 1,755 597 N.M.
    Foreign exchange loss – realised7 (235) (32) N.M.
    Finance costs (7,166) (5,772) 24.2
    Net income before share of results of joint venture 26,972 27,556 (2.1)
    Share of results (net of tax) of joint venture8 1,414 - 100.0
    Net Income 28,386 27,556  3.0
    Gain on disposal of subsidiary9 - 52,227 (100.0)
    Change in fair value of financial derivatives 166 - 100.0
    Foreign exchange (loss)/gain – unrealised (1,326) 1,273 N.M.
    Total return for the period before taxation 27,226 81,056 (66.4)
    Taxation10 (8,408) (24,879) (66.2)
    Total return for the period after taxation 18,818 56,177 (66.5)
    Attributable to:
    Unitholders 19,555 56,162 (65.2)
    Non-controlling interest (737) 15 N.M.
    Total return for the period after taxation 18,818 56,177 (66.5)
  • Statement of Total Return for the Group (YTD 2018 vs YTD 2017)
      Group
      YTD 2018
    S$'000
    YTD 20171
    S$'000
    %
    Change
    Gross rental income
    156,414 162,286 (3.6)
    Other income2
    10,583 12,797 (17.3)
    Gross revenue
    166,997 175,083 (4.6)
    Land rental
    (4,363) (4,469) (2.4)
    Property related tax
    (15,466) (18,198) (15.0)
    Business tax
    (922) (953) (3.3)
    Property management fees3
    (10,785) (10,572) 2.0
    Other property operating expenses4
    (23,916) (24,666) (3.0)
    Total property operating expenses
    (55,452) (58,858) (5.8)
    Net property income
    111,545 116,225 (4.0)
    Manager's management fees - Base fee
    (5,754) (5,304) 8.5
    Manager's management fees - Performance fees
    (4,828) (4,622) 4.5
    Trustee's fees
    (348) (319) 9.1
    Audit fees
    (349) (307) 13.7
    Valuation fees
    (155) (152) 2.0
    Other trust operating (expenses)/income5
    (1,062) 185 N.M.
    Finance income6
    4,516 1,112 N.M.
    Foreign exchange loss – realised7
    (186) (261) (28.7)
    Finance costs
    (19,547) (17,670) 10.6
    Net income before share of results of joint venture
    83,832 88,887 (5.7)
    Share of results (net of tax) of joint venture8
    5,565 - 100.0
    Net Income
    89,397 88,887 0.6
    Gain on disposal of subsidiary9
    - 52,227 (100.0)
    Change in fair value of investment properties
    23,642 13,049 81.2
    Change in fair value of financial derivatives
    166 - 100.0
    Foreign exchange (loss)/gain – unrealised
    (649) 1,575 N.M.
    Total return for the period before taxation
    112,556  155,738 (27.7)
    Taxation10
    (34,026) (48,322) (29.6)
    Total return for the period after taxation
    78,530 107,416 (26.9)
    Attributable to:
    Unitholders
    79,704 108,586 (26.6)
    Non-controlling interest
    (1,174) (1,170) 0.3
    Total return for the period after taxation
    78,530 107,416 (26.9)

    Footnotes:

    1. Excludes contribution from CapitaMall Anzhen which was divested with effect from 1 July 2017.
    2. Other income comprises mainly income earned from atrium space, carpark, trolley carts and advertisement panels.
    3. Includes reimbursement of costs to the property manager.
    4. Includes items in the table below as part of the other property operating expenses.

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