Financial Highlights

Summary of CICT Results
1 July to 31 December 2025
("2H 2025") 		1 July to 31 December 2024
("2H 2024")
FY 2025 FY 2024
Actual Actual Actual Actual
Gross Revenue (S$'000) 831,528 794,368 1,619,174 1,586,329
Net Property Income (S$'000) 609,884 571,114 1,189,749 1,153,478
Amount Available for Distribution (S$'000) 453,432 390,888 869,957 761,592
Distributable Income (S$'000) 1,2,3,4 448,985 385,732 860,874 752,211
Distribution Per Unit ("DPU") (cents)

For the period / year

5.96¢

5.45¢

11.58¢

10.88¢

Footnotes:

  1. For 2H 2025, advanced distribution of DPU of 1.35 cents for the period from 1 July 2025 to 13 August 2025 was paid on 18 September 2025 pursuant to the announcement made on Cumulative Distribution. The distribution of DPU of 4.61 cents for the period from 14 August 2025 to 31 December 2025 will be paid on 24 March 2026 as stated below. S$4.5 million comprising S$3.4 million and S$1.1 million received from CLCT and Sentral REIT respectively had been retained for general corporate and working capital purposes.
  2. For 2H 2024, S$5.2 million comprising S$4.0 million and S$1.2 million received from CLCT and Sentral REIT respectively had been retained for general corporate and working capital purposes.
  3. For FY 2025, S$9.1 million comprising S$6.9 million and S$2.2 million received from CLCT and Sentral REIT respectively had been retained for general corporate and working capital purposes.
  4. For FY 2024, S$9.4 million comprising S$8.0 million and S$1.4 million received from CLCT and Sentral REIT respectively had been retained for general corporate and working capital purposes.
Statements of Total Return Group
2H 2025
S$'000 		2H 2024
S$'000 		%
Change 		FY 2025
S$'000 		FY 2024
S$'000 		%
Change
Gross revenue 831,528 794,368 4.7 1,619,174 1,586,329 2.1
Property operating expenses (221,644) (223,254) (0.7) (429,425) (432,851) (0.8)
Net property income 609,884 571,114 6.8 1,189,749 1,153,478 3.1
Interest and other income 2,019 7,272 (72.2) 6,781 12,765 (46.9)
Investment income 1 4,447 5,156 (13.8) 9,083 9,381 (3.2)
Management fees (54,214) (48,600) 11.6 (105,627) (95,633) 10.5
Trust expenses (5,837) (13,666) (57.3) (11,574) (18,926) (38.8)
Finance costs (159,705) (175,710) (9.1) (314,704) (345,394) (8.9)
Net income before share of results of joint ventures 396,594 345,566 14.8 773,708 715,671 8.1
Share of results (net of tax) of:
- Joint Ventures 2		 81,767 31,059 NM 116,753 33,756 NM
Net income 478,361 376,625 27.0 890,461 749,427 18.8
Net change in fair value of investment properties 68,117 153,127 (55.5) 68,117 153,127 (55.5)
Gain on divestment of investment property - 32,765 NM - 32,765 NM
Gain on divestment of a joint venture - - NM 26 - NM
Total return before tax 546,478 562,517 (2.9) 958,604 935,319 2.5
Taxation (3) (508) 8,936 NM (7,180) 6,458 NM
Total return 545,970 571,453 (4.5) 951,424 941,777 1.0
Attributable to
Unitholders 537,617 568,753 (5.5) 937,287 933,683 0.4
Non-controlling interests 8,353 2,700 NM 14,137 8,094 74.7
Total return 545,970 571,453 (4.5) 951,424 941,777 1.0
Distribution Statements
Total return attributable to Unitholders 537,617 568,753 (5.5) 937,287 933,683 0.4
Net tax and other adjustments (132,492) (214,466) (38.2) (143,751) (217,106) (33.8)
Tax-exempt income 3,585 11,987 (70.1) 7,885 15,512 (49.2)
Capital distributions 13,205 6,059 NM 16,208 7,585 NM
Distribution income from joint ventures 31,517 18,555 69.9 52,328 21,918 NM
Amount available for distribution to Unitholders 453,432 390,888 16.0 869,957 761,592 14.2
Distributable income to Unitholders 448,985 385,732 16.4 860,874 752,211 14.4
DPU (in cents)
For the period/year 5.96 5.45 9.4 11.58 10.88 6.4

Footnotes:

  1. This relates to distribution income from equity investments in CLCT and Sentral REIT.
  2. For 2H 2025, this relates to CICT's share of results of Orchard Turn Holding Pte. Ltd. ("OTH") & ION Orchard Link Pte. Ltd. ("IOL") (50.0%) and GOT & GSRT (45.0%). For FY 2025, this relates to CICT's share of results of OTH & IOL (50.0%) and GOT & GSRT (45.0%). For 2H 2024 and FY 2024, this relates to CICT's share of results of OTH, IOL & One George Street LLP ("OGS LLP") (50.0%) and GOT & GSRT (45.0%).
  3. Taxation includes income tax expenses and deferred tax expenses in relation to the temporary differences arising from the fair value changes of overseas investment properties held by the Group.

NM - Not meaningful.

  Group
  31 Dec 2025
S$'000 		31 Dec 2024
S$'000
Non-current assets    
Plant and equipment 5,058 4,627
Investment properties 25,601,573 23,702,305
Joint ventures 1,047,801 1,431,840
Equity investments at fair value 132,693 123,920
Financial derivatives 379 3,567
Deferred tax assets - 3,638
Other non-current assets - 42
26,787,504 25,269,939
Current assets
Asset held for sale 390,885 -
Trade and other receivables 102,702 80,929
Cash and cash equivalents 149,489 156,358
Financial derivatives 764 5,776
643,840 243,063
 
Total assets 27,431,344 25,513,002
Current liabilities    
Financial derivatives 8,083 2,114
Trade and other payables 335,226 374,964
Current portion of security deposits 103,281 89,961
Loans and borrowings 654,630 1,035,195
Lease liabilities 1,684 2,595
Provision for taxation 5,078 6,030
Liabilities held for sale 8,285 -
1,116,267 1,510,859
Non-current liabilities
Financial derivatives 203,510 105,343
Trade and other payables 49,261 34,622
Loans and borrowings 9,334,893 7,909,952
Lease liabilities 21,414 24,536
Non-current portion of security deposits 215,659 204,201
Deferred tax liabilities 23 1,318
9,824,760 8,279,972
 
Total liabilities 10,941,027 9,790,831
 
Net assets 16,490,317 15,722,171
Represented by:
Unitholders' funds 16,292,063 15,524,456
Non-controlling interests 198,254 197,715
16,490,317 15,722,171
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