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Analysis
by Gross Revenue and Net Property Income
With the addition of Plaza Singapura, income contribution from
the malls is generally better distributed, with Plaza Singapura
contributing the largest share of 30.2 percent of the portfolio
Net Property Income (NPI) for the period from 2 August to 31
December 2004. The even distribution of income sources produces
a more stable and secured portfolio.
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All
properties have contributed positively to the bottom line
and exceeded the forecast NPI1, a result of asset enhancements
and the Manager’s pro-active approach to leasing. 1 As forecasted, together
with the accompanying assumptions, in the CMT Circular dated
11 June 2003 (and updated in the CMT Offer Information Statement
dated 9 December 2003) and CMT Circular dated 20 July 2004.
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1 Based on the forecast, together with the accompanying assumptions,
shown in the CMT Circular dated 11 June 2003 (and subsequently
updated in the CMT Offer Information Statement dated 9 December
2003) for all the properties excluding Plaza Singapura for
the financial year ended 31 December 2004, pro-rated for the
period from 1 January to 1 August 2004.
2 Based on the forecast, together with the accompanying assumptions,
shown in the CMT Circular dated 20 July 2004 for all the properties
for the period from 1 August to 31 December 2004, pro-rated
for the period from 2 August to 31 December 2004.
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