Page 82 - ar2012

CDL Hospitality TrustS
80
Distribution Statements
Year ended 31 December 2012
H-REIT Group
and Stapled Group
2012 2011
$’000 $’000
Income available for distribution to holders of
Stapled Securities at the beginning of the year 55,212 51,163
Net income of H-REIT (Note 18) 118,254 182,715
Net tax adjustments (Note A) 3,404 (64,583)
Income available for distribution for the current year 121,658 118,132
Income available for distribution to holders of Stapled Securities 176,870 169,295
Distribution to holders of Stapled Securities:
Distribution of 5.71 cents per Stapled Security
for the period from 1/7/2011 to 31/12/2011 (55,092) –
Distribution of 5.70 cents per Stapled Security
for the period from 1/1/2012 to 30/6/2012 (55,149) –
Distribution of 5.31 cents per Stapled Security
for the period from 1/7/2010 to 31/12/2010 – (50,911)
Distribution of 5.34 cents per Stapled Security
for the period from 1/1/2011 to 30/6/2011 – (51,359)
(110,241) (102,270)
Income available for distribution to holders
of Stapled Securities at end of the year 66,629 67,025
Amount retained for working capital (12,166) (11,813)
Income to be distributed to holders
of Stapled Securities at the end of the year 54,463 55,212
Note A – Net tax adjustments comprise:
Non-tax deductible/(chargeable) items:
- Amortisation of transaction costs 782 442
- Financial expense arising from remeasuring
non-current rental deposits at amortised cost 173 169
- Foreign exchange loss/(gain) 2,584 (3,358)
- H-REIT Manager’s management fees paid/payable
in Stapled Securities 9,776 9,354
- H-REIT Trustee’s fee 246 235
- Net surplus on revaluation of investment properties (10,799) (71,738)
- Other items 642 313
Net tax adjustments 3,404 (64,583)
Distributions of the Stapled Group represents the aggregate of distributions by H-REIT and HBT. The distribution
of the Stapled Group for the year is contributed solely by H-REIT as HBT was dormant during the year. Accordingly,
only the income available for distribution of H-REIT has been presented.
The accompanying notes form an integral part of these fnancial statements.