CapitaLand Integrated Commercial Trust - Annual Report 2023

Cover A
Corporate Profile B
Contents 3
Elevate 4
Embrace 6
Excel 8
Business Model 10
Value Drivers 12
Global Trends 14
Trust Structure 16
Year in Brief 17
Property Portfolio 18
Financial Highlights 22
Sustainability Highlights 24
Message to Unitholders 26
Conversation with CEO 31
Board of Directors 34
Trust Management Team 40
Value Creation 42
Portfolio Valuation 45
Financial Review 48
Capital Management 50
Trading Performance 52
Investor Relations 54
Operations Review 55
Property Details 66
Independent Market Review 92
Sustainability Approach 121
Risk Management 127
Corporate Governance 133
Financial Statements 169
Report of the Trustee 170
Statement by the Manager 171
Independent Auditors’ Report 172
Statements of Financial Position 176
Statement of Total Return 177
Distribution Statement 178
Statements of Movements in Unitholders’ Fund 179
Portfolio Statement 180
Statement of Cash Flows 183
Notes to the Financial Statements 185
Additional Information 274
Statistcs of Unitholdings 277
Corporate Information 281
Back Cover 282

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