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FINANCIAL
REVIEW
For FY 2013, Sabana REIT’s performance surpassed
that of the previous year. Year-on-year gross revenue
and NPI increased by 9.4% and 4.6% respectively, while
distributable income rose to S$61.8 million,
a 4.0% increase over FY 2012, and DPU
increased by 1.1% to 9.38 cents.
PROACTIVE YET PRUDENT
CAPITAL MANAGEMENT
The Manager maintained its
prudent approach in capital
management in FY2013. Key
capital management initiatives
were launched to complement
Sabana REIT’s existing funding
sources. These included:
S$500.0 million
Multi-currency
Sukuk Programme
In April 2013, the Manager,
through a wholly-owned
subsidiary of Sabana REIT,
Sabana Sukuk Pte. Ltd.,
successfully established a
Shari’ah compliant S$500.0
million Multi-currency Islamic
Trust Certificates Issuance
Programme (the “Sukuk
Programme”), which allows
the issuance of notes in various
currencies, amounts and tenors.
Private placement
In September 2013, the
Manager successfully concluded
Sabana REIT’s maiden private
MATURITY PROFILE OF OUTSTANDING BORROWINGS
AS AT 31 DECEMBER 2013
(S$ MILLION)
2014 2015 2016 2017
100.2
177.6
30.5
147.5
SABANA REIT | ANNUAL REPORT 2013
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