CapitaLand Integrated Commercial Trust - Annual Report 2021

Group Trust 2021 2020 2021 2020 $’000 $’000 $’000 $’000 Net assets attributable to Unitholders at beginning of the year 13,037,638 7,767,239 12,504,219 7,485,566 Operations Total return attributable to Unitholders for the year 1,083,086 349,819 740,020 108,553 Hedging reserves Effective portion of changes in fair value of cash flow hedges 37,882 (25,518) 5,520 (10,496) Net change in fair value of cash flow hedges reclassified to Statement of Total Return 5,636 23,357 3,485 1,291 Share of movements in hedging reserves of joint ventures 4,845 874 – – Movement in foreign currency translation reserves (“FCTR”) (1,515) (462) – – Movement in fair value reserves (25,518) (26,321) (26,676) (29,345) Unitholders’ transactions Creation of units – Management fees paid 15,721 3,275 15,721 3,275 – Management fees payable 25,366 6,194 25,366 6,194 – Private placement 250,000 – 250,000 – – Merger – 5,310,850 – 5,310,850 Issue expenses (3,009) (482) (3,009) (482) Distributions to Unitholders (762,378) (371,187) (762,378) (371,187) Net (decrease)/increase in net assets resulting from Unitholders’ transactions (474,300) 4,948,650 (474,300) 4,948,650 Net assets attributable to Unitholders at end of the year 13,667,754 13,037,638 12,752,268 12,504,219 Non-controlling interests Group 2021 2020 $’000 $’000 At beginning of the year 30,300 – Total return attributable to non-controlling interests (21) (79) Distributions to non-controlling interests (1,315) – Acquisition of subsidiary (Note 32) – 30,682 Translation differences from financial statements of foreign operations (1,018) (303) At end of the year 27,946 30,300 The accompanying notes form an integral part of these financial statements. Statements of Movements in Unitholders’ Funds YEAR ENDED 31 DECEMBER 2021 Annual Report 2021 221