SuntecReit 2QFY2017

Gross Revenue                                 = $87.3m
NPI                                                   = $59.4m
Distributable Income                        = $66.0m
DPU                                                  = 2.493 cents
Total Liabilities                                = $3356m
Gearing                                             = 36.1%
All-In-Financing-Cost                      = 2.41%
Interest Coverage Ratio                    = 4.1X
Adjusted NAV                                  = $2.094

SuntecReit Q1FY2017

Gross Revenue                                 = $88.4m
NPI                                                   = $61.8m
Distributable Income                        = $61.8m
DPU                                                  = 2.425 cents
Total Liabilities                                = $3504m
Gearing                                             = 37.7%
All-In-Financing-Cost                      = 2.42%
Interest Coverage Ratio                    = 4.3X
Adjusted NAV                                  = $2.12

SuntecReit 4QFY2016

Gross Revenue                                 = $88.9m
NPI                                                   = $60.7m
Distributable Income                        = $66.1m
DPU                                                  = 2.596 cents
Total Liabilities                                = $3500m
Gearing                                             = 36.4%
All-In-Financing-Cost                      = 2.28%
Interest Coverage Ratio                    = 4.0X
Adjusted NAV                                  = $2.121

SuntecReit 3QFY2016

Gross Revenue                                 = $82.4m
NPI                                                   = $57.2m
Distributable Income                        = $64.3m
DPU                                                  = 2.535 cents
Total Liabilities                                = $3335m
Gearing                                             = 37.8%
All-In-Financing-Cost                      = 2.28%
Interest Coverage Ratio                    = 3.9X
Adjusted NAV                                  = $2.102

SuntecReit - Another Acquisition in Australia

Singapore, 5 August 2016 – ARA Trust Management (Suntec) Limited, the manager of Suntec Real Estate Investment Trust (“Suntec REIT”, and the “Manager”), is pleased to announce that Suntec REIT, through Southgate Trust, in which it holds a 50% indirect interest, has entered into an agreement to acquire 50% interest in the iconic Southgate Complex (the “Property”) from Dexus Southgate Trust (“Dexus”) for a consideration of A$289 million. 
In addition, separate put and call option agreements have been entered into with Dexus where the remaining 50% interest in Southgate Complex will be acquired for the same purchase consideration of A$289 million.  
Located alongside the Yarra River in the Southbank arts and leisure precinct of Melbourne, Australia, Southgate Complex is a freehold, landmark waterfront integrated development comprising two AGrade office towers, a 3-storey retail podium and a car park with 1,026 lots. The office and retail components constitute approximately 87% and 13% of the total net lettable area (“NLA”) respectively. Surrounded by business, residential, recreational and retail amenities, the Property is directly opposite Flinders Street train station and within close proximity to Melbourne’s city rail loop.  
Commenting on Suntec REIT’s second acquisition in Australia, Mr. Yeo See Kiat, Chief Executive Officer of the Manager, said, “We are pleased to acquire the iconic Southgate Complex which is a strategic fit with Suntec REIT’s portfolio of quality assets and in line with our strategy to expand our footprint in Asia Pacific. The acquisition augments Suntec REIT’s presence in Australia.”  
The Property has a total NLA of 820,324 sq ft and is leased to well-established tenants such as IBM, The Herald and Weekly Times, Commonwealth of Australia, APT, Dairy Australia, City Road Melbourne and LinkedIn. The committed occupancy was 88% as at 5 August 2016 with a weighted lease expiry of approximately 4.6 years. The annual rental escalations for the office leases are predominantly between 3% to 4%. 
5 August 2016 
 
Mr. Yeo said, “The acquisition will further enhance Suntec REIT’s income and geographical diversification. It also offers organic growth potential from the repositioning of the retail component and the strengthening office market in the CBD of Melbourne.”    

SuntecReit - Great News!

Singapore, 4 August 2016 – ARA Trust Management (Suntec) Limited, the manager of Suntec Real Estate Investment Trust (“Suntec REIT”, and the “Manager”), is pleased to announce that it has received practical completion for 177 Pacific Highway, the iconic, A-grade state-of-the-art commercial tower in North Sydney on 1 August 2016.  
In addition to CIMIC Group Limited (“CIMIC”) (previously Leighton Holdings), it has also secured Vodafone Group Plc, Jacobs Engineering Group Inc, Pepper Group Limited, Cisco Systems, Objective Corporation Limited and CBRE as tenants.  
Mr. Yeo See Kiat, Chief Executive Officer of the Manager, said, “We are pleased that with these new commitments, our property is now 100% leased and the WALE is 9.25 years.” 
Vodafone Group Plc, Jacobs Engineering Group Inc, Cisco Systems and Objective Corporation Limited will join CIMIC to relocate its Australian headquarters to the newest landmark building in North Sydney. In particular, Vodafone would be occupying over 100,000 sq ft at 177 Pacific Highway, representing the biggest leasing transaction in North Sydney this year. 
Mr. Yeo added, “We are also pleased that some of Australia’s leading technology, financial services and property firms will call 177 Pacific Highway home and we look forward to welcoming over 3,000 employees to their new workplace in the coming months.” 
177 Pacific Highway is located in one of the most prominent sites in North Sydney Central Business District at the junction of Pacific Highway and Berry Street. It was recently awarded a 5 Star Green Star – Office Design v3 Certified Rating. The landmark building is designed by award-winning architecture firm Bates Smart and boasts state-of-the-art design and harbour views. 
4

SuntecReit 2QFY16

Gross Revenue                                 = $78.9m
NPI                                                   = $52.7m
Distributable Income                        = $63.3m  ($8m from capital)
DPU                                                  = 2.501 cents
Total Debt Outstanding                    = $3041m
Gearing                                             = 34.7%
All-In-Financing-Cost                      = 2.77%
Interest Coverage Ratio                    = 3.6X
Adjusted NAV                                  = $2.101

SuntecReit 1QFY2016

Gross Revenue                                 = $78.3m
NPI                                                   = $54m
Distributable Income                        = $60m
DPU                                                  = 2.371 cents
Total Liabilities                                = $3220m
Gearing                                             = 34.7%
All-In-Financing-Cost                      = 2.92%
Interest Coverage Ratio                    = 3.6X
Adjusted NAV                                  = $2.114

SuntecReit 4QFY15

Gross Revenue                                 = $87.5m
NPI                                                   = $62.5m
Distributable Income                        = $69.5m
DPU                                                  = 2.75 cents
Total Liabilities                                = $3402m
Gearing                                             = 35.8%
All-In-Financing-Cost                      = 2.86%
Interest Coverage Ratio                    = 4.1X
Adjusted NAV                                  = $2.127

SuntecReit 3QFY2015

Gross Revenue                                 = $81.1m
NPI                                                   = $58.5m
Distributable Income                        = $63.6m
DPU                                                  = 2.522 cents
Total Liabilities                                = $3342m
Gearing                                             = 35.8%
All-In-Financing-Cost                      = 2.74%
Interest Coverage Ratio                    = 4.2X
Adjusted NAV                                  = $2.066

SuntecReit 2QFY2015

Gross Revenue                                 = $81.4m
NPI                                                   = $56.9m
Distributable Income                        = $62.9m
DPU                                                  = 2.5 cents
Total Liabilities                                = $3281m
Gearing                                             = 35.3%
All-In-Financing-Cost                      = 2.70%
Interest Coverage Ratio                    = 4.2X
Adjusted NAV                                  = $2.076

SuntecReit 1QFY2015

Gross Revenue                                 = $74.5m
NPI                                                   = $51.4m
Distributable Income                        = $56m
DPU                                                  = 2.23 cents
Gearing                                             = 34.8%
All-In-Financing-Cost                      = 2.53%
Interest Coverage Ratio                    = 4.4X
Adjusted NAV                                  = $2.085

Suntec Reit 4QFY2014

Gross Revenue                                 = $76.8m
NPI                                                   = $53.0m
Distributable Income                        = $64.6m
DPU                                                  = 2.577 cents
Gearing                                             = 34.7%
All-In-Financing-Cost                      = 2.44%
Interest Coverage Ratio                    = 4.3X
Adjusted NAV                                  = $2.091

SuntecReit 3QFY2014

Gross revenue                                  = $71.5m
Net Property Income                       = $48.8m
Income Available For Distribution  =$58.3m
DPU                                                  = 2.328 cents

Total Assets  =   $8,365m
Total Debts   =   $3,087m
Net Assets     =  $5,144m
NAV              = $2.033

Outstanding Debt     = $2.907b
Debt-to-Asset Ratio = 34.4%
Interest Cover          = 4.6

Corporate Rating = "Baa2"
Average All-in Financing Cost  = 2.42%

SuntecReit 2QFY2014

Gross revenue                                  = $68.1m
Net Property Income                       = $46.1m
Income Available For Distribution  =$56.6m
DPU                                                  = 2.266 cents

Total Assets  =   $8,341m
Total Debts   =   $3,032m
Net Assets     =  $5,309m
NAV              = $2.069
EPS                = 1.242 cents

Outstanding Debt     = $2.878b
Debt-to-Asset Ratio = 34.1%
Interest Cover          = 4.3

Corporate Rating = "Baa2"
Average All-in Financing Cost  = 2.62%

SunTecReit 1QFY2014

Gross revenue                                  = $66m
Net Property Income                       = $43.8m
Income Available For Distribution  =$50.9m
DPU                                                  = 2.229 cents

Total Assets  =   $8,780m
Total Debts   =   $3,462m
Net Assets     =  $5,178m
NAV              = $2.056

Outstanding Debt     = $3.311b
Debt-to-Asset Ratio = 37.3%
Interest Cover          = 4.0

Corporate Rating = "Baa2"
Average All-in Financing Cost  = 2.49%

SuntecReit Private Placement

SuntecReit just announced a private placement raising $350m at a price of 1.605 a share. It is about a 4.69% discount over the last traded price. Nett proceeds mainly used for repayment of loans.

SuntecReit 4QFY2013

Gross revenue                                  = $71.6m
Net Property Income                       = $49.8m
Income Available For Distribution  =    $58.2m
DPU                                                  = 2.562 cents

Total Assets  =   $8,322m
Total Debts   =   $3,337m
Net Assets     =  $4,844m
NAV              = $2.108

Outstanding Debt     = $3.198b
Debt-to-Asset Ratio = 38.0%
Interest Cover          = 3.7

Corporate Rating = "Baa2"
Average All-in Financing Cost  = 2.5%

SuntecReit 3Q2013

DPU                                            =    2.289cts
Net Property Income                    =    $40,254,000
Income Available For Distribution =    $51,848,000

Total Assets  =   $7,897,375,000
Total Debts   =   $3,108,478,000
Net Assets     =  $4,788,897,000
EPS               =  1.514 cents (diluted)
NAV              = $2.053

Outstanding Debt     = $2,975,000,000
Debt-to-Asset Ratio = 37.2%
Interest Cover          = 4.7

Corporate Rating = "Baa2"
Average All-in Financing Cost  = 2.67%

SuntecReit 2QFY2013

DPU                                            =    2.249cts
Net Property Income                    =    $27.956,000
Income Available For Distribution =    $50,857,000

Total Assets  =   $7,854,213,000
Total Debts   =   $3,058,838,000
Net Assets     =  $4,795,375,000
EPS               = 2.441 cents (diluted)
NAV              = $2.06
Ajusted NAV = $2.037

Outstanding Debt     = $2,905,000,000
Debt-to-Asset Ratio = 36.5%
Interest Cover          = 3.4

Corporate Rating = "Baa2"
Average All-in Financing Cost  = 2.68%