139
ANNUAL REPORT 2014
15 TRADE AND OTHER PAYABLES (CONT'D)
Outstanding balances with the related corporations of H-REIT Manager and related entities are unsecured,
interest-free and repayable on demand.
Other payables in H-REIT Group mainly relate to the remaining purchase consideration payable for the acquisition
of a subsidiary in prior years of $7,374,000 (2013: $7,374,000).
Included in accrued operating expenses of the H-REIT Group are the following:
-
amounts due to the H-REIT Trustee and H-REIT Manager of $45,000 (2013: $86,000) and $2,006,000
(2013: $227,000) respectively; and
-
amounts due to related corporations of the H-REIT Manager of $2,024,000 (2013: $1,224,000).
16 NET ASSET VALUE PER UNIT/STAPLED SECURITY
HBT Group
H-REIT Group
Stapled Group
2014
2013
2014
2013
2014
2013
$’000
$’000
$’000
$’000
$’000
$’000
Net asset value per Unit/
Stapled Security
is based on net assets
528
348 1,618,845 1,595,034 1,616,127 1,595,382
Note ’000
’000
’000
’000
’000
’000
Total issued and issuable
Units/Stapled Securities
at 31 December
11 982,232
975,769
982,232
975,769
982,232 975,769
17 GROSS REVENUE
HBT Group
H-REIT Group
Stapled Group
2014
2013
2014
2013
2014
2013
$’000
$’000
$’000
$’000
$’000
$’000
Fixed rent
–
–
66,577
70,204
66,577
70,204
Variable rent
–
–
85,053
78,578
78,682
78,578
Room revenue
13,532
–
–
–
13,532
–
Food and beverage revenue
4,762
–
–
–
4,762
–
Other revenue
3,259
–
–
–
3,259
–
21,553
–
151,630
148,782
166,812 148,782
Variable rent for H-REIT Group includes rental income from HBT Group.
Revenue of the HBT Group comprises revenue from resort operation which represents revenue from letting of
rooms, food and beverages sales and revenue from other resort-related services.
Under the terms of the master lease agreements for the properties, the H-REIT Group is generally entitled to a fixed
rent component and/or a variable rent component computed based on a certain percentage of the revenue and/
or gross operating profit. The initial period of the leases ranges from 10 years to 20 years, with or without options
for renewal for a period ranging from 5 years to 50 years.
NOTES TO THE FINANCIAL STATEMENTS
