Financial Highlights

Summary of CICT Results
1 January to 30 June 2025
("1H 2025") 		1 January to 30 June 2024
("1H 2024")
FY 2024 FY 2023
Actual Actual Actual Actual
Gross Revenue (S$'000) 787,646 791,961 1,586,329 1,559,934
Net Property Income (S$'000) 579,865 582,364 1,153,478 1,115,907
Amount Available for Distribution (S$'000) 416,525 370,704 761,592 728,486
Distributable Income (S$'000) 1,2,3,4 411,889 366,479 752,211 715,726
Distribution Per Unit ("DPU") (cents)

For the period / year

5.62¢

5.43¢

10.88¢

10.75¢

Footnotes:

  1. For 1H 2025, S$4.6 million comprising S$3.5 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 1H 2024, S$4.2 million comprising S$4.0 million and S$0.2 million received from CLCT and Sentral REIT respectively had been retained for general corporate and working capital purposes.
  3. 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.
  4. For FY 2023, S$12.7 million comprising S$9.5 million and S$3.2 million received from CLCT and Sentral REIT respectively had been retained for general corporate and working capital purposes.
Statements of Total Return Group
1H 2025
S$'000 		1H 2024
S$'000 		%
Change
Gross revenue 787,646 791,961 (0.5)
Property operating expenses (207,781) (209,597) (0.9)
Net property income 579,865 582,364 (0.4)
Interest and other income 4,762 5,493 (13.3)
Investment income 1 4,636 4,225 9.7
Management fees (51,413) (47,033) 9.3
Trust expenses (5,737) (5,260) 9.1
Finance costs (154,999) (169,684) (8.7)
Net income before share of results of joint ventures 377,114 370,105 1.9
Share of results (net of tax) of:
- Joint Ventures 2 		34,986 2,697 NM
Net income 412,100 372,802 10.5
Gain on divestment of a joint venture 26 - NM
Total return before tax 412,126 372,802 10.5
Taxation (3) (6,672) (2,478) NM
Total return 405,454 370,324 9.5
Attributable to
Unitholders 399,670 364,930 9.5
Non-controlling interests 5,784 5,394 7.2
Total return 405,454 370,324 9.5
Distribution Statements
Total return attributable to Unitholders 399,670 364,930 9.5
Net tax and other adjustments (11,259) (2,640) NM
Tax-exempt income 4,300 3,525 22.0
Capital distributions 3,003 1,526 96.8
Distribution income from joint ventures 20,811 3,363 NM
Amount available for distribution to Unitholders 416,525 370,704 12.4
Distributable income to Unitholders 411,889 366,479 12.4
DPU (in cents)
For the period 5.62 5.43 3.5

Footnotes:

  1. This relates to distribution income from equity investments in CLCT and Sentral REIT.
  2. For 1H 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 1H 2024, this relates to CICT's share of results of 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
  30 Jun 2025
S$'000 		31 Dec 2024
S$'000
Non-current assets    
Plant and equipment 4,778 4,627
Investment properties 23,816,489 23,702,305
Joint ventures 1,375,708 1,431,840
Equity investments at fair value 121,544 123,920
Financial derivatives 232 3,567
Deferred tax asset 77 3,638
Other non-current assets 4 42
25,318,832 25,269,939
Current assets
Trade and other receivables 81,175 80,929
Cash and cash equivalents 169,916 156,358
Financial derivatives 14 5,776
251,105 243,063
 
Total assets 25,569,937 25,513,002
Current liabilities    
Financial derivatives 9,535 2,114
Trade and other payables 351,592 374,964
Current portion of security deposits 94,587 89,961
Loans and borrowings 716,033 1,035,195
Lease liabilities 2,622 2,595
Provision for taxation 5,875 6,030
1,180,244 1,510,859
Non-current liabilities
Financial derivatives 257,948 105,343
Trade and other payables 34,626 34,622
Loans and borrowings 8,100,746 7,909,952
Lease liabilities 22,630 24,536
Non-current portion of security deposits 207,608 204,201
Deferred tax liability 2,049 1,318
8,625,607 8,279,972
 
Total liabilities 9,805,851 9,790,831
 
Net assets 15,764,086 15,722,171
Represented by:
Unitholders' funds 15,568,907 15,524,456
Non-controlling interests 195,179 197,715
15,764,086 15,722,171
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