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DISTRIBUTION STATEMENT
REPORTS
Year ended 31 December 2016
Stapled Group
2016
2015
$’000
$’000
Amount available for distribution to holders of Stapled Securities at
the beginning of the year
52,555 55,950
Total return of H-REIT (Note 23)
14,713 36,240
Total return of HBT (Note 23)
4,253
1,105
Net tax adjustments (Note A)
86,564 71,613
105,530 108,958
Less: Amount retained for working capital
(10,553)
(10,896)
Add: Capital distribution
4,147
1,130
Amount available for distribution to holders of Stapled Securities
151,679 155,142
Distribution of 5.74 cents per Stapled Security for the period from 1/7/2014 to
31/12/2014
– (56,380)
Distribution of 4.69 cents per Stapled Security for the period from 1/1/2015 to
30/6/2015
– (46,207)
Distribution of 5.37 cents per Stapled Security for the period from 1/7/2015 to
31/12/2015
(53,118)
–
Distribution of 4.45 cents per Stapled Security for the period from 1/1/2016 to
30/6/2016
(44,096)
–
(97,214)
(102,587)
Income available for distribution to holders of Stapled Securities at the end of
the year
54,465 52,555
Distribution per Stapled Security (DPS) (cents)*
10.00
10.06
Note A – Net tax adjustments comprise:
Non-tax deductible/(chargeable) items:
- Amortisation of debt-related transaction costs
999
926
- Fair value loss on financial derivatives
178
–
- Financial expense arising from remeasuring non-current
rental deposits at amortised cost
205
196
- Foreign exchange loss
3,159 22,267
- H-REIT Manager’s management fees paid/payable
in Stapled Securities
9,931 10,210
- H-REIT Trustee’s fees
272
273
- HBT Trustee-Manager’s management fees paid/payable in Stapled Securities
350
–
- HBT Trustee-Manager’s trustee fees
134
37
- Net fair value loss on investment properties
61,959 37,260
- Impairment loss on subsidiary
8,963
–
- Other items
414
444
Net tax adjustments
86,564 71,613
Distributions of the Stapled Group represents the aggregate of distributions by H-REIT and HBT.
* The DPS relates to the distributions in respect of the relevant financial year. The distribution for the second half of the
financial year will be made subsequent to the financial year end.
The accompanying notes form an integral part of these financial statements.
123
Annual Report 2016