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Financial Highlights

Portfolio 4Q 20171 4Q 20161 Change (%)
RMB'000
Gross revenue
81,604
76,441
6.8
Net property income
54,399
49,841
9.1
SGD'000
Gross revenue
16,707
15,791
5.8
Net property income
11,137
10,300
8.1
Amount available for distribution
4,879
4,629
5.4
Distribution per Unit (DPU) (cents) 1.32 1.31
0.8

  1. The actual results were translated using the average SGD: CNY rate of 1:4.884 and 1:4.844 for 4Q 2017 and 4Q 2016, respectively.

 

Portfolio 12M 20171 12M 20161,2 Change (%)
RMB'000
Gross revenue
315,760
300,607
5.03
Net property income
210,172
193,407
8.73,4
SGD'000
Gross revenue
64,519
62,585
3.13
Net property income
42,944
40,286
6.63,4
Amount available for distribution
20,001
18,604
7.5
Distribution per Unit (DPU) (cents) 5.47 5.32
2.8

  1. The actual results were translated using the average SGD: CNY rate of 1:4.894 and 1:4.791 for 12M 2017 and 12M 2016, respectively.
  2. The comparative figures were for the twelve months from 1 January 2016 to 31 December 2016. These figures were extracted from BHG Retail REIT's results for the fourth quarter and twelve months ended 31 December 2016.
  3. Prior to 1 May 2016, Business Tax was reflected under property operating expenses. With effect from 1 May 2016, Value Added Tax ("VAT") replaced Business Tax in China and this is netted off against revenue instead of being reflected in property operating expenses.
  4. With effect from 1 July 2016, the Beijing State Government aligned its tax policy with the national practice of charging Property Tax based on rental income. This resulted in higher property-related tax expenses for Beijing Wanliu Mall. The change in Beijing's Property Tax is in-line with current property tax for the other four properties in the portfolio.

 

Selected Statement Of Financial Position

As at 31 December 2017

  S$'000
Total assets 888,192
Total liabilities 305,143
Net assets attributable to Unitholders 416,454

Key Financial Indicators

As at 31 December 2017

Annualised distribution yield1 (%) 7.39
Net asset value per unit (cents) 0.83
Gearing ratio2 (%) 32.2
Average cost of debt (%) 3.70
Weighted average term to maturity for debt (years) 1.7


  1. Based on closing price of S$0.740 as at 31 December 2017 and 12M 2017 Distribution per Unit.
  2. Based on total loans and borrowings principal attributable to Unitholders divided by total assets attributable to Unitholders.