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Suntec Real Estate Investment Trust’s Annual Report: 23 Key Numbers Investors Should Know

Suntec Real Estate Investment Trust  (SGX: T82U) was one of the first REITs to appear in Singapore’s stock market given its listing on 9 December 2004.

The REIT has come a long way since its initial public offering. We can learn more from Suntec REIT’s 2015 annual report. Here are 23 key figures investors should note:

  1. The makeup of Suntec REIT’s portfolio can take a bit of time to understand. (The following ownership figures given in point 1 and 2 are as of end-2015.) As a start, the REIT has a 59% stake in Suntec City Office Towers and a 100% interest in Suntec City Mall. Suntec REIT owns a 60.8% interest in Suntec Singapore Convention & Exhibition Centre too.
  2. Meanwhile, Suntec REIT also has a one-third interest each in One Raffles Quay, Marina Bay Financial Centre Towers 1 and 2 and the Marina Bay Link Mall. Elsewhere, Suntec REIT owns 30% of Park Mall. Finally, the REIT owns a 100% stake in a commercial building on 177 Pacific Highway in Australia. (It’s worth noting that Suntec REIT had added to its property portfolio since the publication of its 2015 annual report; the REIT had bought a 25% stake in an office building in Melbourne, Australia.)
  3. From its public listing in 2004 to 2015, Suntec REIT had delivered distribtuions of 103.5 cents per unit. It has also generated a total return of 158.5%. At the end of 2015, the REIT had $5.8 billion in investment properties and a $2.5 billion interest in joint ventures. In total, Suntec REIT had $8.97 billion in assets under management.
  4. At the end of 2015, the REIT’s Suntec City stake was valued at $5 billion; its One Raffles Quay stake was worth around $1.3 billion; and its interests in Marina Bay Financial Towers 1 and 2 and the Marina Bay Link Mall were collectively worth $1.7 billion.
  5. Suntec City contributed 66% of Suntec REIT’s gross revenue and 75% of net property income (NPI). Meanwhile, Park Mall accounted for 7% of gross revenue and a similar percentage for NPI. Suntec Singapore was responsible for 27% of gross revenue and 18% in NPI.
  6. Suntec REIT’s NPI for 2015 was $229.2 million. This is before contributions from its joint ventures which came in at $96.1 million. From this figure, $26.1 million is attributed to the REIT’s one-third interest in One Raffles Quay while $69.9 million came from the MBFC properties.

The numbers above provide an overview of Suntec REIT’s business. To find out more, you can check out its annual report.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore contributor Chin Hui Leong owns shares in Suntec REIT.