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Sunway REIT Financial Results 4Th Quarter Ended 30 June 2017

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Sunway REIT Financial Results 4Th Quarter Ended 30 June 2017 Sunway REIT Financial Results 4th Quarter Ended 30 June 2017 (FYE 30 June 2017) Announcement Date: 10 August 2017 DISCLAIMER This presentation is for information purposes only and does not constitute an offer, solicitation or advertisement with respect to the purchase or sale of any security of Sunway Real Estate Investment Trust (“Sunway REIT”) and no part of it shall form the basis of, or be relied on in connection with, any contract, commitment or investment decision whatsoever. The information contained in this presentation is strictly private and confidential and is being provided to you solely for your information. This presentation may not be distributed or disclosed to any other person and may not be reproduced in any form, whole or in part. This presentation is not intended for distribution, publication or use in the United States. Neither this document nor any part or copy of it may be taken or transmitted into the United States or distributed, directly or indirectly, in the United States. Sunway REIT has not registered and does not intend to register any securities under the U.S. Securities Act of 1933 (the “Securities Act”). Accordingly, any offer of securities of Sunway REIT is being made only outside the United States pursuant to Regulation S under the Securities Act. You represent and agree that you are located outside the United States and you are permitted under the laws of your jurisdiction to participate in any offering of securities of Sunway REIT. This presentation may contain forward looking statements which are not subject to change due to a number of risks, uncertainties and assumptions. Representative examples of these factors include (without limitation) general industry and economic conditions; interest rate trends; cost of capital and capital availability including availability of financing in the amounts and on the terms necessary to support future business; availability of real estate properties; competition from other companies; changes in operating expenses including employee wages, benefits and training and property expenses; and regulatory and public policy changes. You are cautioned not to place undue reliance on these forward looking statements which are based on Management’s current view of future events. These forward looking statements speak only as at the date of which they are made and none of Sunway REIT, its trustee, any of its or their respective agents, employees or advisors intends or has any duty or obligation to supplement, amend, update or revise any forward looking statement contained herein to reflect any change in circumstances, conditions, events or expectations upon which any such forward looking statement is based. Past performance is not necessarily indicative of its future performance. This presentation does not constitute an offering circular or a prospectus in while or in part. The information contained in this presentation is provided as at the date of this presentation and is subject to change without notice. No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the accuracy, completeness or correctness of any information, including any projections, estimates, targets and opinions, contained herein. Accordingly, none of Sunway REIT, its trustee, officers or employees accept any liability, in negligence or otherwise, whatsoever arising directly or indirectly from the use of this presentation. Driving values through sustainable growth 2 Table of Contents 1. Financial Highlights 2. 4Q 2017 Financial Results 3. 4Q 2017 Portfolio Performance 4. 4Q 2017 Property Performance 5. Market Outlook 6. Investor Relations Driving values through sustainable growth 3 1. Financial Highlights Driving values through sustainable growth 4 Distribution Details Dividend Distribution Details Distribution Period 1 April 2017 - 30 June 2017 Distribution Per Unit (DPU) (sen) 2.27 1 Notice of Entitlement 10 August 2017 Ex-Dividend Date 24 August 2017 Book Closure Date 28 August 2017 Payment Date 12 September 2017 1 Proposed income distribution for 4Q2017 of 2.27 sen per unit (comprising taxable and non-taxable/tax exempt amount of 1.45 sen per unit and 0.82 sen per unit respectively). Driving values through sustainable growth 5 Financial Highlights Highlights 4Q 2017 4Q 2016 No. of Properties 14 14 Property Value (RM'billion) 6.689 6.433 No. of Units in Circulation 2,945,078,000 2,943,918,400 Unit Price as at 30 June (RM) 1.78 1.66 Market Capitalisation (RM'billion) 5.242 4.887 Net Asset Value (NAV) Per Unit (RM) 1.4074 1.3549 (After income distribution) Premium to NAV 26.5% 22.5% Realised Earnings Per Unit (EPU) (sen) 2.27 2.05 Distribution Per Unit (DPU) (sen) 2.27 2.12 Distribution Yield 5.2% 5.5% (Based on market price as at 30 June) Management Expense Ratio 0.85% 0.88% (After income distribution) YTD Total Return 12.4% 13.3% Gearing 34.3% 33.3% % of Fixed Rate Borrowings 88.7% 94.4% Driving values through sustainable growth 6 Financial Highlights (Cont’d) Gross Revenue (RM'm) Net Property Income (RM'm) 700.0 500.0 600.0 1 2 7.2% 9.3% 522.9 388.8 507.0 400.0 373.9 500.0 400.0 300.0 300.0 200.0 200.0 128.9 134.6 132.5 96.0 100.2 98.5 121.2 126.9 131.9 130.3 123.6 100.0 89.9 94.1 97.1 96.7 90.2 100.0 - - 1Q 2Q 3Q 4Q YTD 1Q 2Q 3Q 4Q YTD 2017 2016 2017 2016 1 Gross Revenue for 4Q2017 increased by 7.2% or RM8.9 million compared to 4Q2016 mainly due to better overall performance by all segments. 2 Net Property Income for 4Q2017 increased by 9.3% or RM8.3 million compared to 4Q2016 mainly attributable to higher Gross Revenue, partially offset by higher operating expenses. Driving values through sustainable growth 7 Financial Highlights (Cont’d) Profit Before Tax (Realised) (RM'm) DPU (sen) 400.0 12.00 1 2 10.2% 7.1% 10.00 9.19 9.18 300.0 270.6 262.5 8.00 200.0 6.00 4.00 2.27 100.0 2.28 2.57 2.37 2.37 2.27 66.8 67.1 73.6 69.9 66.8 60.6 2.12 2.12 60.6 67.7 2.00 - - 1Q 2Q 3Q 4Q YTD 1Q 2Q 3Q 4Q YTD 2017 2016 2017 2016 1 Profit Before Tax (Realised) for 4Q2017 increased by 10.2% or RM6.2 million compared to 4Q2016 mainly due to higher net property income but partially offset by higher finance costs. 2 DPU for 4Q2017 increased by 7.1% or 0.15 sen despite a 10.2% increase in Profit Before Tax (Realised). The lower DPU growth was due to cessation of manager’s fee paid in units with effect from FY2017. Driving values through sustainable growth 8 2. 4Q 2017 Financial Results Driving values through sustainable growth 9 Statement of Comprehensive Income – Consolidated 1Q 2017 1Q 2016 2Q 2017 2Q 2016 3Q 2017 3Q 2016 4Q 2017 4Q 2016 Change YTD 2017 YTD 2016 Change RM'000 RM'000 RM'000 RM'000 RM'000 RM'000 RM'000 RM'000 % RM'000 RM'000 % Gross revenue 128,879 121,216 126,880 131,867 134,573 130,345 132,536 123,585 7.2% 522,868 507,013 3.1% Less : Property operating expenses (32,814) (31,274) (32,825) (34,813) (34,392) (33,660) (34,020) (33,415) 1.8% (134,051) (133,162) 0.7% Net property income 96,065 89,942 94,055 97,054 100,181 96,685 98,516 90,170 9.3% 388,817 373,851 4.0% Changes in fair value of investment properties - - - - - - 152,073 63,482 139.6% 152,073 63,482 139.6% 1 1 Other income 921 4,941 5,191 4,793 1,278 1,006 906 (668) -235.6% 8,296 10,072 -17.6% Manager's fee (7,845) (7,630) (7,805) (7,842) (7,938) (7,747) (8,062) (7,583) 6.3% (31,650) (30,802) 2.8% Trustee's fee (307) (303) (308) (304) (342) (300) (309) (341) -9.4% (1,266) (1,248) 1.4% 2 2 Other trust expenses (2,934) (952) 2,086 (563) (316) (3,283) (1,327) (619) 114.4% (2,491) (5,417) -54.0% Finance costs (21,757) (21,485) (22,076) (21,618) (22,507) (21,595) (22,955) (21,544) 6.5% (89,295) (86,242) 3.5% Profit before tax 64,143 64,513 71,143 71,520 70,356 64,766 218,842 122,897 78.1% 424,484 323,696 31.1% Income tax expense - - - - - - - - 0.0% - - 0.0% Profit for the period 64,143 64,513 71,143 71,520 70,356 64,766 218,842 122,897 78.1% 424,484 323,696 31.1% Profit for the period comprises the following: Realised 66,732 60,565 67,130 73,576 69,906 67,714 66,818 60,618 10.2% 270,586 262,473 3.1% Unrealised (2,589) 3,948 4,013 (2,056) 450 (2,948) 152,0243 62,279 144.1% 153,898 61,223 151.4% 64,143 64,513 71,143 71,520 70,356 64,766 218,842 122,897 78.1% 424,484 323,696 31.1% No. of units in circulation (million units) 2,945 2,940 2,945 2,941 2,945 2,943 2,945 2,944 0.0% 2,945 2,944 0.0% EPU (sen) - Realised 2.24 2.06 2.31 2.48 2.37 2.33 2.27 2.05 10.7% 9.19 8.92 3.0% - Unrealised (0.09) 0.13 0.14 (0.07) 0.01 (0.10) 5.16 2.12 143.4% 5.22 2.08 151.0% 2.15 2.19 2.45 2.41 2.38 2.23 7.43 4.17 78.2% 14.41 11.00 31.0% Proposed/declared income distribution 66,853 62,330 67,148 75,592 69,798 69,742 66,853 62,411 7.1% 270,652 270,075 0.2% Proposed/declared DPU (sen) 2.27 2.12 2.28 2.57 2.37 2.37 2.27 2.12 7.1% 9.19 9.18 0.1% Please refer to next page for explanatory notes.
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