Sunlight Trusty Estate Investment Belief (Sunlight REIT) Intervening time Results for the Six Months Ended 31 December 2019

Sunlight Trusty Estate Investment Belief (Sunlight REIT) Intervening time Results for the Six Months Ended 31 December 2019

HONG KONG, CHINA – Media OutReach – eleven February 2020 – Henderson Sunlight Asset Management Cramped (the “Manager”) is contented to symbolize the intervening time outcomes of Sunlight REIT for the six months ended 31 December 2019 (the “Reporting Length”).
Notwithstanding a complicated working atmosphere, Sunlight REIT managed to turn in reasonable working outcomes for the Reporting Length, with revenue and accept property profits registering 2.9% and a pair of.1% one year-on-one year (“YoY”) development to HK$437.1 million and HK$345.7 million respectively.

Distributable profits for the Reporting Length used to be HK$233.5 million, up zero.

Eight% YoY. The Board has resolved to teach an intervening time distribution per unit (“DPU”) of HK Thirteen.2 cents, which is unchanged from the corresponding interval last one year and represents a payout ratio of Ninety three.6%.

The appraised price of Sunlight REIT’s portfolio used to be HK$19,896.1 million at 31 December 2019, a tiny decrease of zero.

5% from 30 June 2019. In the period in-between, accept sources of Sunlight REIT dropped 1.zero% to HK$15,839.1 million, which translates to a accept asset price of HK$9.

fifty six per unit.
Working Highlights
The total occupancy payment of Sunlight REIT’s portfolio used to be 96.1% at 31 December 2019 (30 June 2019: Ninety five.

three%). As a result of the completion of asset enhancement works at Strand 50, occupancy payment of the station of job portfolio rebounded to Ninety five.7% (30 June 2019: 94.

zero%).

Occupancy payment of the retail portfolio declined a exiguous of to Ninety seven.1% (30 June 2019: 98.1%), largely reflecting the longer hire void for vacant units at Sheung Shui Centre Browsing Arcade (“SSC”) and Metro Metropolis Piece I Property (“MCPI”).

In tandem with the total condominium reversion of 10.three% accomplished for the duration of the Reporting Length, passing hire of the station of job and retail portfolio rose three.

1% and zero.9% from six months within the past to HK$36.6 per sq. toes. and HK$seventy six.

5 per sq.

toes. respectively.
Efficiency of the station of job portfolio remained resilient, given valid station of job quiz within the swap areas where Sunlight REIT has an cheap presence. In explicit, Sunlight Tower registered a pleasant condominium reversion of 14.

four%. On the retail front, SSC and MCPI recorded obvious condominium reversions of 7.

2% and eleven.5% respectively for the duration of the Reporting Length. Then all once more, it is far evident that the performance of the retail sources, critically SSC, used to be adversely tormented by weakening user sentiment. Corresponding measures, equivalent to transient condominium reduction and promotional activities, had been launched for the duration of the Reporting Length to enhance tenants and stimulate user spending.
Mr. Wu Shiu Kee, Keith, Chief Executive Officer of the Manager acknowledged, “Despite an no longer easy working atmosphere, there are intellectual spots which display the resilience of Sunlight REIT. In explicit, the completion of Strand 50’s renovation has appreciably improved the passing hire and the capital price of the property, while the defensive nature of Sunlight REIT’s having a leer destinations is anticipated to support alleviate the opposed influence environment up from prevailing conditions.


Remarks: Attached highlights of FY2019/20 Intervening time Results of Sunlight REIT.

Highlights of FY2019/20 Intervening time Results:
(in HK$’ million, except otherwise specified)
Six months ended
31 December 2019
Six months ended
31 December 2018
Trade
(%)
Income
437.1
424.9
2.9
Earn property profits
345.7
338.7
2.

1
Designate-to-profits ratio (%)
20.9
20.three
N/A
Income after taxation Point out
30.7
859.

1
(96.four)
Distributable profits
233.5
231.6
zero.

Eight
Distribution per unit (HK cents)
Thirteen.2
Thirteen.

2

Payout ratio (%)
Ninety three.6
Ninety three.9
N/A
At 31 December 2019
At 30 June 2019
Trade
(%)
Portfolio valuation
19,896.1
20,002.

5
(zero.5)
Earn asset price
15,839.1
15,991.9
(1.zero)
Earn asset price per unit (HK$)
9.

fifty six
9.sixty eight
(1.2)
Gearing ratio (%)
20.

5
20.four
N/A
Point out: Incorporated a comely price loss on investment properties of HK$162.

5 million (versus a comely price reach of HK$661.6 million within the identical interval last one year).
Disclaimer:
The facts contained on this press initiating would not portray a proposal or invitation to promote or the solicitation of a proposal or invitation to want or subscribe for units in Sunlight REIT in Hong Kong or any assorted jurisdiction.
About Sunlight REIT
Sunlight REIT (Stock code: 435) is an actual estate investment belief authorized by the Securities and Futures Commission and constituted by the belief deed dated 26 Could additionally fair 2006 (as amended and supplemented by six supplemental deeds) (the “Belief Deed”) and has been listed on The Stock Trade of Hong Kong Cramped on 21 December 2006.

Sunlight REIT presents traders the different to invest in a assorted portfolio of 11 station of job and 5 retail properties in Hong Kong with a total unfriendly rentable station of over 1.2 million sq. toes..

The station of job properties are basically positioned in core swap areas, collectively with Wan Chai and Sheung Wan/Central, as well to in decentralized swap areas equivalent to Mong Kok and North Level. The retail properties are situated in regional transportation hubs and new cities collectively with Sheung Shui, Tseung Kwan O and Yuen Prolonged, as well to in urban areas with high population density.
In regards to the Manager
The Manager of Sunlight REIT is an indirect wholly-owned subsidiary of Henderson Land Vogue Firm Cramped (恒基兆業地產有限公司); its predominant responsibility is to control Sunlight REIT and all of its sources according to the Belief Deed within the only real curiosity of its unitholders.

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