DISTRIBUTIONS
Distribution for FY 2014 was S$375.3 million, an increase of S$19.1 million or 5.4% as compared to
FY 2013. Distribution per unit (DPU) for FY 2014 is 10.84 cents (which includes other gain distribution
of 0.12 cents); this is 5.6% higher than 10.27 cents for FY 2013. The increase was mainly attributed
to the two phases of AEIs at BJ which were completed in October 2013 and September 2014
respectively, strong operating performance from the other properties and the release of S$4.5 million,
as one-off other gain distribution, relating to the profit arising from the sale of office strata units in
Westgate Tower.
In 2014, CMT received partial distribution of S$30.0 million from Infinity Office Trust (IOT) relating to
the profit from the sale of office strata units in Westgate Tower. S$4.5 million has been released as
one-off other gain distribution while the balance of S$25.5 million has been retained for general
corporate and working capital purposes. In addition to the abovementioned, CMT had also retained
capital distribution and tax-exempt income of S$11.4 million received from CapitaRetail China Trust
for general corporate and working capital purposes.
Breakdown of the Unitholders’ DPU in cents for FY 2014 with FY 2013 comparatives are as follows:
Year
1 January to
31 March
1 April to
30 June
1 July to
30 September
1 October to
31 December
1 January to
31 December
2014
2.57
2.69
2.72
2.86
10.84
2013
2.46
2.53
2.56
2.72
10.27
ASSETS
As at 31 December 2014, the total assets for CMT and its subsidiaries (CMT Group) were S$9,858.3
million, compared with S$9,220.0 million as at 31 December 2013. The increase of S$638.3 million
was mainly due to the revaluation surplus of S$162.0 million, capital expenditure of S$72.0 million,
increase in investment in joint ventures of S$44.2 million mainly due to sale of office strata units in
Westgate Tower by IOT as well as the increase in cash and cash equivalents of S$299.7 million.
The increase in cash and cash equivalents was mainly due to the proceeds from the issuance of ¥5.0
billion floating rate notes and HK$650.0 million fixed rate notes which were swapped into Singapore
dollar fixed rate notes totalling S$170.3 million, S$300.0 million fixed rate notes issued under the
S$2.5 billion unsecured Multicurrency Medium Term Note Programme (MTN Programme) during the
year as well as the proceeds from the issuance of S$350.0 million of bonds under the S$2.5 billion
retail bond programme.
This was offset by the redemption of the S$350.0 million 2.125% convertible bonds due 2014 upon
its maturity and the repayment of the S$150.0 million fixed rate notes under the MTN Programme.
Leading with Confidence | 71
