Financial highlights

Property value
Property profit
Gross revenue
Distribution
Earnings per unit (EPU)
Annual total return
CAGR
Distribution per unit (DPU)

Profit & loss For Financial Year ended 31 December

RM'000 FY2017 FY2016
Gross revenue 125,543124,571
Direct cost & property expenses 51,80550,236
Net property income (NPI) 73,73874,335
Net income 32,69643,158
Earnings per unit[1] 7.82 sen[1]10.77 sen
Net income — realised 40,13441,546
Net income per unit — realised 9.60 sen10.37 sen
Income distribution 40,48542,067
Distribution per unit (DPU) 9.6 sen10.5 sen
Change in unit price (23.0) sen4.0 sen
Annual total return per unit (13.4) sen14.5 sen
Annual total return per unit[2] (7.6%)9.3%
  • [1] Calculated based on Weighted Average No. of Units in Circulation of 418,009,834 (pro-rated basis).
  • [2] Calculated based on the Closing Price of each year.

Balance sheet As at 31 December

RM'000 FY2017 FY2016
Total assets 1,252,3571,131,863
Total liabilities 603,488546,395
Total borrowings 557,057508,200
Gearing ratio 44.5%44.9%
No. of units in circulation 461,960400,634
Net asset value (NAV) 648,869585,468
NAV per unit RM1.40RM1.46
Lowest NAV during the period RM1.38RM1.45
Highest NAV during the period RM1.48RM1.48
Unit Price as at 31 December RM1.30RM1.56
Premium/(Discount) to NAV (7.1%)6.8%

Income distributions FY2017

Interim 1st quarter DPU 2.30 sen
Interim 2nd quarter DPU (including for the period July to August) 4.00 sen
Interim 3rd quarter DPU (including for the month of September) 3.30 sen
Final 4th quarter DPU 9.60 sen
Total DPU 10.50 sen
DPU yield[3] 7.4%
  • [3] Based on DPU of 9.60 sen and the closing unit price of RM1.30 for FY2017. Source: Bloomberg.

Unit price statistics FY2017

High RM1.63
Low RM1.16
Opening Price (1 Jan 2017) RM1.53
Closing Price (29 Dec 2017) RM1.30
Change in price -15.0%

Average total return

Based on the Total Return and the Closing Price of each year.
For 1 year (2017) -7.6%
For 3 years (2015–2017) 3.5%
For 5 years (2013–2017) 5.3%

Total return

Based on the Total Return of each year and the Closing Price as at 31 December 2017.
For 3 years (2015–2017) 10.6%
For 5 years (2013–2017) 26.7%

Debt structure As at 31 December 2017

Al-Murabahah/Overdraft Fixed Term Loan, Annual Floating Rate and Fixed Term Loan, Annual Fixed Rate
Total debt RM557 million
Weighted cost of debt 4.2%
Gearing ratio[4] 44.5%
Interest cover 2.41
  • [4] Gearing ratio calculated by total borrowings over Gross Asset Value (GAV).

Comparative yields FY2017

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Unit price performance FY2017

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Debt expiry profile As at 31 December 2017

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