GROSS REVENUE
Gross revenue for financial year (FY) 2014 was S$658.9 million, an increase of S$21.3 million or 3.3%
over FY 2013. IMM Building accounted for S$1.2 million increase in gross revenue after completion
of its asset enhancement initiatives (AEI) in June 2013 partially offset by the commencement of phase
two AEI in July 2014. Bugis Junction (BJ) accounted for S$6.0 million increase in gross revenue after
the completion of its phase one and phase two AEIs in October 2013 and September 2014
respectively. The other malls, except for JCube, accounted for S$15.8 million increase in gross
revenue mainly due to higher rental achieved on new and renewed leases and staggered rental.
JCube recorded lower gross revenue as a result of its phase two AEI.
Gross Revenue by Property
(S$ million)
FY 2014
FY 2013
1
Tampines Mall
74.8
73.4
Junction 8
57.2
55.4
Funan DigitaLife Mall
33.5
33.3
IMM Building
76.7
75.4
Plaza Singapura
88.9
84.0
Bugis Junction
79.0
73.1
Sembawang Shopping Centre and Rivervale Mall
23.9
23.0
JCube
32.1
33.8
Lot One Shoppers’ Mall
42.7
42.0
Bukit Panjang Plaza
26.4
25.9
The Atrium@Orchard
52.4
49.6
Clarke Quay
38.6
37.3
Bugis+
32.7
31.4
CMT Group
658.9
637.6
1 FY 2013 had been restated to take into account the retrospective adjustments relating to Financial Reporting Standards (FRS)
111 Joint Arrangements to exclude CMT’s 40.00% interest in Raffles City Singapore and CMT’s 30.00% interest in Westgate.
CMT’s interest in joint ventures’ gross revenue are shown below for information:–
Gross Revenue by Property
(S$ million)
FY 2014
FY 2013
Raffles City Singapore (40.00% interest)
93.0
90.3
Westgate (30.00% interest)
2
22.3
1.3
Total
115.3
91.6
2 Westgate commenced operations on 2 December 2013.
Financial Review
Leading with Confidence | 69
