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CapitaLand Mall Trust
Annual Report 2015
Overview
Sustainability
Business
Review
Portfolio
Details
Corporate
Governance &
Transparency
Distributions
Distribution for FY 2015 was S$392.0 million, an increase of S$16.7 million or 4.4% compared to FY 2014.
Distribution per unit (DPU) for FY 2015 is 11.25 cents; this is 3.8% higher than 10.84 cents for FY 2014.
The increase was mainly attributed to the acquisition of Bedok Mall on 1 October 2015, completion of phase two
AEI in Bugis Junction and distribution income from Infinity Mall Trust which holds Westgate.
CMT had retained capital distribution and tax-exempt income of S$12.5 million received from CapitaLand Retail
China Trust for general corporate and working capital purposes.
DPU for 1 October to 31 December 2015 of 2.88 cents was 0.13 cents or 4.7% higher than the forecast
1
DPU
of 2.75 cents mainly due to higher other income, lower property operating expenses and lower finance costs.
Assets
As at 31 December 2015, the total assets for CMT and its subsidiaries (CMT Group) were S$10,355.7 million,
compared with S$9,858.3 million as at 31 December 2014. The increase of S$497.4 million was mainly due
to year-end valuation of S$780.0 million for Bedok Mall, revaluation surplus of S$106.9 million, capital expenditure
of S$76.9 million, increase in financial derivatives of S$117.8 million, partially offset by the sale of Rivervale Mall
of S$116.0 million and lower cash and cash equivalents of S$525.2 million.
The lower cash and cash equivalents was mainly due to repayment of S$100.0 million and US$500.0 million
(swapped into S$699.5 million) fixed rate notes under the S$2.5 billion unsecured Multicurrency Medium Term
Note Programme (MTN Programme) and US$3.0 billion unsecured Euro-Medium Term Note Programme
(EMTN Programme) respectively. The decrease was partially offset by proceeds from the issuance of HK$1.104
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Singapore dollar fixed rate notes totalling S$292.8 million.
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
2015
2.68
2.71
2.98
2.88
11.25
2014
2.57
2.69
2.72
2.86
10.84
1 The forecast was based on the CMT’s circular dated 20 August 2015.
Financials &
Additional
Information
Breakdown of the Unitholders’ DPU in cents for FY 2015 as compared to FY 2014 are as follows:
