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Financial Highlights

Consolidated Statement of Total Return
For the Financial Period/Year Ended		 FY2023
S$ million		 16M FY20221
S$ million		 Change
%
Gross Revenue 288.9 376.4 (23.2)
Net Property Income 215.1 279.9 (23.2)
Income Available for Distributions 135.6 210.2 (35.5)
Distribution per Unit (cents) 5.02 7.24 (30.7)
Consolidated Statement of Financial Position 31 Dec 2023
S$ million		 31 Dec 2022
S$ million		 Change
%
Total Assets 4,268.7 4,256.9 0.3
Total Liabilities 1,377.5 1,377.8 -
Borrowings 1,268.7 1,271.6 (0.2)
Net Assets Attributable to Unitholders 2,577.6 2,563.1 0.6
Number of Units in Issue (million) 2,833.4 2,810.9 0.8
Net Asset Value per Unit (S$) 0.91 0.91 -
Financial Ratios FY2023 16M FY20221
Annualised Distribution Yield (%)    
• Based on closing price2 5.67 6.03
Gearing Ratio (%) 29.6 29.8
Interest Cover Ratio (times)3 3.5 6.8
Average All-in-Cost of Debt (% per annum) 4.30 2.05
Average Term to Maturity for Debt (years) 2.1 2.8

Note

  1. 16M FY2022 refers to the period 1 September 2021 to 31 December 2022.
  2. Based on closing price of S$0.885 per unit on 29 December 2023 (30 December 2022: S$0.90).
  3. The ratio is calculated by dividing the trailing 12 months EBITDA by the trailing 12 months interest expense (excluding FRS 116 finance expense) in accordance with MAS guidelines.