SEO Version
ANNUAL REPORT 2011
7
Financial Highlights
(1) Actual refers to the results for the period 26 November 2010 (the “listing date”) to 31 December 2011. Sabana Shari’ah Compliant REIT was a dormant private trust
from date of constitution until the initial portfolio of 15 properties were acquired on 26 November 2010 and officially listed on the same day on SGX-ST. Consequently,
the operations of Sabana Shari’ah Compliant REIT commenced on 26 November 2010.
(2) Based on figures for Forecast Year 2011 extracted from the IPO Prospectus dated 22 November 2010 (“Prospectus”), extrapolated for the period from the listing date to
31 December 2010 and for the period from 1 January 2011 to 31 December 2011, except for the change in fair value of investment properties which was not pro-rated.
(3) Based on unaudited pro forma balance sheet on the listing date as disclosed in Prospectus.
(4) Based on trading prices for the period from the listing date to 30 December 2011.
(5) Performance is calculated on the change in the Unit Price over the period, based on the opening price on the listing date, compared with the closing price on the last
trading day of the financial period i.e. 30 December 2011.
Debt Profile
As at 31 December 2011
Aggregate leverage
34.1%
Total debt
S$364.8 million
Fixed as % of total debt
96.7%
Weighted average all-in financing cost
4.4%
Weighted average tenor of debt
2.2 years
Interest cover
7.4 times
Unit Price Performance
(4)
S$
IPO issue price
1.050
Unit opening price on 26 November 2010
0.990
Unit closing price on 30 December 2011
0.875
Highest unit price
1.030
Lowest unit price
0.835
Volume traded (million units)
549.72
Unit price performance
(5)
-11.6%
Key Financial Figures
26 November 2010 -
31 December 2011
S$’000
Actual
(1)
Forecast
(2)
Variance %
Gross revenue
76,945
75,460
2.0
Net property income
73,074
72,294
1.1
Distributable income
60,603
60,092
0.9
DPU (cents)
-
For the period
9.53
9.48
0.5
-
Annualised
8.67
8.63
0.5
Annualised distribution yield (%)
-
IPO price at S$1.050
8.26
8.22
0.5
-
Closing price of S$0.875 on 30 Dec 2011
9.91
9.86
0.5
Selected Balance Sheet Data
S$’000
As at
31 December 2011
Pro Forma
(3)
as at Listing Date
Variance
%
Total assets
1,082,316
884,636
22.3
Debt, at amortised costs
359,865
215,126
67.3
Net assets attributable to Unitholders
681,782
627,769
8.6
Units in issue and to be issued entitled to distribution (‘000)
637,295
632,800
0.7
Net asset value (“NAV”) per Unit (S$)
1.07
0.99
8.1
Adjusted NAV per Unit (S$)
1.05
0.99
6.1
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