Annual Report 2012 YTL Corporation Berhad Tablethe Journey Continues
STARHILL REAL ESTATE INVESTMENT TRUST the journey continues... annual report 2012 YTL Corporation Berhad Tablethe journey continues... of Contents CORPORATE REVIEW Financial Highlights 2 Fund Performance 3 Property Portfolio 4 Chief Executive Officer's Statement 24 Corporate Information 28 Profile of the Board of Directors 29 Statement on Corporate Governance 32 Analysis of Unitholdings 36 Statement of Interests of Directors of the Manager 37 FINANCIAL STATEMENTS Manager’s Report 39 Statement by Manager 51 Statutory Declaration 51 Trustee’s Report 52 Independent Auditors’ Report 53 Statements of Comprehensive Income 55 Statements of Financial Position 57 Statements of Changes in Net Asset Value 59 Statements of Cash Flows 61 Notes to the Financial Statements 63 Supplementary Information on the 94 Disclosure of Realised and Unrealised Profits or Losses STARHILL REAL ESTATE INVESTMENT TRUST b ~ Annual Report 2012 the journey continues... Annual Report 2012 Starhill Real Estate Investment Trust the journey continues... Financial Highlights 2012 2011 2010 2009 2008 Net revenue (RM'000) 80,860 30,148 109,823 110,483 108,228 Profit before tax (RM'000) 107,264 59,923 31,077^ 355,847# 81,268 Profit after tax (RM'000) 106,161 58,239 31,077^ 355,847# 81,268 Total assets (RM'000) 1,769,144 1,586,102 1,618,702 1,656,676 1,381,961 Net asset value (RM'000) 1,515,536 1,356,659 1,374,877 1,420,257 1,145,896 Units in circulation ('000) 1,324,389 1,178,889 1,178,889 1,178,889 1,178,889 Net asset value per Unit (RM) 1.144 1.151 1.166 1.205 0.972 Earnings per Unit (sen) 8.36 4.94 2.64^ 30.18# 6.89 Distribution per Unit (sen) 7.6359 6.4855 6.4855 6.9121 6.8936 # Includes the fair value adjustment on investment properties of RM274.36 million that arose from the revaluation of the Trust’s parcels in Lot 10 Shopping Centre (’’Lot 10 Parcels’’), Starhill Gallery, JW Marriott Hotel Kuala Lumpur and the Trust’s parcels in The Residences at The Ritz-Carlton, Kuala Lumpur, during the financial year ended 30 June 2009.
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