Investor Presentaiton
Healthy Financial Position1
31 Dec 2021
30 Sep 2021
Offshore Loans
SGD 66%
Gearing²
37.7%
36.4%
Onshore Loans
RMB 20%
Funding
Sources
Average Cost
2.62%
2.59%
MTN 14%
of Debt³
Interest
Coverage4
Average Term to
Maturity
Notes:
4.9x
4.8x
Fixed Rate 5,6
77%
Interest
Rates
3.4 years
3.5 years
Floating Rate
23%
Diversified
Funding Sources
S$1,993.4 million
Total Debt
High Proportion of
Fixed Interest Rate
+/(-) S$0.8 million p.a.
Impact on interest expense
Assuming 0.1% p.a. increase/
(decrease) in variable rate
1. All key financial indicators exclude the effect of FRS 116 Leases.
2. In accordance with the Property Funds Appendix, the aggregate leverage is calculated based on the proportionate share of total borrowings over deposited properties.
3. Ratio of the consolidated FY 2021 interest expense reflected over weighted average borrowings on balance sheet.
4. Ratio is calculated by dividing the trailing 12 months EBITDA over the trailing 12 months interest expense (exclude finance lease interest expenses under FRS 116) in accordance with MAS guidelines.
5. CLCT's hedging policy is to hedge at least 50% of undistributed income into SGD and at least 60% of total debt to fixed interest rates. As at 31 December 2021, 51% of undistributed income has been hedged into SGD.
6. Exclude RMB denominated loans.
CapitaLand China Trust
Financial Results for FY 2021
13View entire presentation