Suntec REIT Announces Unaudited Group Earnings Results for the Fourth Quarter and Year Ended December 31, 2012; Declares Distribution for the Quarter Ended December 31, 2012, Payable on February 28, 2013
For the full year, the company reported net property income of SGD 163,429,000, net income of SGD 243,454,000, total return before tax of SGD 427,022,000 and total return attributable to unitholders of SGD 413,164,000 or 17.779 cents per fully diluted share on gross revenue of SGD 261,883,000 compared to net property income of SGD 193,383,000, net income of SGD 250,328,000, total return before tax of SGD 640,608,000 and total return attributable to unitholders of SGD 631,836,000 or 26.915 cents per fully diluted share on gross revenue of SGD 270,282,000 a year ago period. Net cash flow from operating activities was SGD 195,081,000 compared to SGD 216,606,000 a year ago period. Capital expenditure on investment properties was SGD 66,650,000 compared to SGD 3,275,000 a year ago period. Purchase of plant and equipment was SGD 1,566,000 compared to SGD 167,000 a year ago period. Group net asset value as at December 31, 2012 was SGD 2.069 per unit. The decrease in gross revenue was due to lower retail revenue from Suntec City Mall and the divestment of CHIJMES which was partially offset by higher revenue from Suntec City Office and the contribution from Suntec Singapore.
Trust's net asset value as at December 31, 2012 was SGD 1.952 per unit.
The company announced distribution of 2.326 cents per unit for the quarter ended December 31, 2012, comprising a taxable income component of 1.276 cents per unit, a tax-exempt income component of 0.494 cents per unit and capital distribution component of 0.556 cents per unit. The distribution will be paid on February 28, 2013. The transfer books and register of unit holders of the company will be closed on February 01, 2013.