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11 āœ“ 4Q 2017 distributable income rose 6.0% YoY Change Remarks 4Q 2017 4Q 2016 (%) Gross Revenue (S$ million) 86.3 89.7 (3.8) Property Operating Expenses (S$ million) (18.3) (19.0) (3.3) Please see note (1) Net Property Income (S$ million) 68.0 70.8 (4.0) Distributable Income (S$ million) 75.0 70.8 6.0 Please see note (2) DPU (cents) 2.08 2.39 (13.0) Please see note (3) For Information Only 2.08 1.96 6.1 Please see note (4) Adjusted DPU (cents) Notes: (1) Lower revenue due to divestments of One George Street (50.0% interest) in June 2017, Golden Shoe Car Park in July 2017 and Wilkie Edge in September 2017 but mitigated by higher gross revenue from CapitaGreen and contribution from newly acquired Asia Square Tower 2 (AST2) held under Asia Square Tower 2 Pte. Ltd. (AST2 Co). Lower revenue led to lower net property income. (2) To note that AST2 Co did not pay any dividend this quarter. The higher distributable income is from MSO Trust which holds CapitaGreen, RCS Trust which holds Raffles City Singapore, a top-up of S$1.1 million for the loss of distributable income arising from the divestments of One George Street (50.0% interest) and Wilkie Edge, as well as tax-exempt distribution of S$8.0 million. (3) DPU computed based on total number of units outstanding as at end of respective periods (4Q 2017: 3,608.1 million; 4Q 2016: 2,963.5 million). (4) 4Q 2016 DPU adjusted for the enlarged 3,608.1 million units arising from new units issued for the equity raised, conversion of convertible bonds and issuance of units for management fees in FY 2017. CapitaLand Commercial Trust Presentation February 2018 Cap/taLand Commercial Trust
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