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annual report 2012
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(4) Defned as net property income divided by interest paid / payable to banks.
(5) With the exception of Angsana Velavaru, whose valuation was as at 16 November 2012, the valuations of all CDLHT’s properties were as at
31 December 2012.
Breakdown of CDLHT’s Properties by valuation
As at 31 December 2012
BReakdown of CDLHT’s Properties by valuation (5)
Post Angsana Velavaru Acquisition
Overseas Portfolio 17.1%
Overseas Portfolio 20.5%
Singapore Portfolio 82.9%
Singapore Portfolio 79.5%
Australia 12.8%
Novotel Brisbane 4.6%
Mercure & Ibis Brisbane 3.8%
Mercure Perth 2.7%
Ibis Perth 1.7%
New Zealand 4.3%
Rendezvous Grand 4.3%
Hotel Auckland
Australia 12.2%
Novotel Brisbane 4.2%
Mercure & Ibis Brisbane 3.7%
Mercure Perth 2.6%
Ibis Perth 1.7%
New Zealand 4.1%
Rendezvous Grand 4.1%
Hotel Auckland
Maldives 4.2%
Angsana Velavaru 4.2%
Singapore 82.9%
Orchard Hotel 22.2%
Grand Copthorne 17.1%
Waterfront Hotel
Novotel Singapore 14.9%
Clarke Quay
M Hotel 11.3%
Studio M Hotel 8.0%
Copthorne King’s Hotel 6.1%
Orchard Hotel 3.3%
Shopping Arcade
Singapore 79.5%
Orchard Hotel 21.4%
Grand Copthorne 16.4%
Waterfront Hotel
Novotel Singapore 14.2%
Clarke Quay
M Hotel 10.9%
Studio M Hotel 7.6%
Copthorne King’s Hotel 5.8%
Orchard Hotel 3.2%
Shopping Arcade
KEY FINANCIAL RATIOS
CDLHT has maintained a healthy gearing ratio of 24.9%. Strong operating cash fow has resulted in a high
service coverage ratio of 9.6 times.
As at As at
31 Dec 2012 31 Dec 2011 Variance
Net asset value per unit S$1.61 S$1.60 +0.6%
Borrowings / total assets 24.9% 25.3% -0.4pp
FY 2012 FY 2011 Variance
Debt service coverage ratio (4) 9.6 x 9.7 x -1.0%