Page 12 - ar2012

CDL Hospitality TrustS
10
N.M. denotes not meaningful
(1) The income available for distribution of CDLHT represents the aggregate of income available for distribution by H-REIT and HBT. The income available
for distribution of CDLHT for FY 2012 was contributed solely by H-REIT as HBT was dormant during the year.
(2) The total income available for distribution for FY 2012 was S$121,658,000, out of which S$109,492,000 or 90.0% was distributed to Security Holders.
The remaining undistributed income of S$12,166,000, comprising solely of tax exempt income was retained for working capital needs.
(3) The investment properties were valued as at 31 December 2012 by Jones Lang LaSalle Property Consultants Pte Ltd, Jones Lang LaSalle Hotels (NSW)
Pty Limited and Bayleys Valuations Limited, independent registered valuers. The valuations gave rise to a net revaluation surplus of S$14,982,000 which
has been recognised in the Statement of Total Return. This revaluation surplus has no impact on the taxable income or income available for distribution
to Security Holders. Included in investment properties as at 31 December 2012 is a net translation loss of S$9,731,000 on its overseas properties.
STATEMENT OF TOTAL RETURN
FY 2012 FY 2011
S$’000 S$’000 Variance
Gross revenue 149,535 141,107 +6.0%
Net property income 139,293 135,191 +3.0%
Net income before revaluation 109,548 107,576 +1.8%
Income available for distribution 121,658 (1) 118,132 +3.0%
Income to be distributed 109,492 (2) 106,319 +3.0%
BALANCE SHEET
Prudent capital management has resulted in a healthy balance sheet for CDLHT. As at 31 December 2012, H-REIT
did not have any exposure to fnancial derivatives.
As at As at
31 Dec 2012 31 Dec 2011
S$’000 S$’000 Variance
Capital Employed
Total assets 2,133,958 2,118,452 +0.7%
Investment properties 2,044,925 (3) 2,029,847 +0.7%
Net assets 1,564,293 1,547,661 +1.1%
Financial Liabilities
Borrowings 531,778 536,158 -0.8%
Provision for taxation 2 816 N.M.
financial highlights
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