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Financial Highlights

Key Financial Figures

2H 2024 and FY 2024
S$'000 2H 2024 2H 2023 Variance (%) FY 2024 FY 2023 Variance (%)
Gross Revenue(1) 58,143 56,598 2.7 113,308 111,875 1.3
NPI(1) 30,287 27,806 8.9 57,452 54,974 4.5
Finance Costs(1) (2) 7,545 6,216 21.4 14,835 12,315 20.5
Total Income Available for Distribution 18,944 15,895 19.2 35,584 33,714 5.5
Income Available for Distribution per Unit (cents) 1.68 1.44 16.7 3.15 3.05 3.3
Total Distribution Amount Declared 17,101 12,786 33.7 32,177 30,530 5.4
Distribution Amount Declared per Unit (cents) 1.52 1.15 32.2 2.86 2.76 3.6

Notes
  • (1)Please refer to the other information section of the Interim Financial Information for explanation of the variances.
  • (2)Excluding amortisation of transaction costs, please refer to note 10 of the interim financial information for detailed breakdown. Elevated financing cost mainly due to higher borrowing amount and higher interest rate on the new fixed rate hedges entered replacing those maturing hedges entered between 2021 and 2022.


Selected Balance Sheet Data

S$'000 As at 31 December 2024 As at 31 December 2023
Investment properties(1) 992,929 979,987
Other assets 31,648 26,104
Total assets 1,024,577 1,006,091
Borrowings, at amortised cost 348,994 315,370
Other liabilities 110,683 114,183
Total liabilities 459,677 429,553
Net assets attributable to Unitholders 564,900 576,538
Units in issue (units) 1,125,055,242 1,111,788,330
NAV per unit (S$) 0.50(2) 0.52



Notes
  • (1) Movement in investment properties mainly due to the revaluation of investment properties based on the independent valuations of the properties undertaken by independent valuers and the capital expenditure spent.
  • (2) NAV decline primarily due to fair valuation loss on investment properties and dilution impact from the new units issued pursuant to the DRP.