ESR-LOGOS REIT (Constituted in the Republic of Singapore pursuant to a trust deed dated 31 March 2006 (as amended))
ASSET VALUATION
Pursuant to Rule 703 of the SGX-ST Listing Manual, Cambridge Industrial Trust Management Limited, the Manager of Cambridge Industrial Trust ("CIT") wishes to announce that it has obtained new independent valuations as at 30 June 2014 for the following properties owned by CIT.
The valuations were conducted by Colliers International Consultancy & Valuation (Singapore) Pte Ltd and are as follows:
No. | Address | Market Valuation as at 30 June 2014 | ||
Logistics Properties | ||||
1 | 24 Jurong Port Road | $87,400,000 | ||
2 | 3 Pioneer Sector 3 | 1 | $99,600,000 | |
3 | 1 Third Lok Yang Road and 4 Fourth Lok Yang Road | $15,000,000 | ||
Warehousing Properties | ||||
4 | 30 Toh Guan Road | $57,800,000 | ||
5 | 31 Tuas Avenue 11 | $11,800,000 | ||
6 | 25 Changi South Avenue 2 | $13,400,000 | ||
7 | 23 Tuas Avenue 10 | $15,400,000 | ||
8 | 160 Kallang Way | $29,800,000 | ||
9 | 120 Pioneer Road | $32,000,000 | ||
10 | 9 Bukit Batok Street 22 | $23,900,000 | ||
11 | 79 Tuas South Street 5 | $11,700,000 | ||
12 | 4 & 6 Clementi Loop | $63,100,000 | ||
13 | 3C Toh Guan Road East | $35,500,000 | ||
Light Industrial Properties | ||||
14 | 21/23 Ubi Road 1 | $34,200,000 | ||
15 | 136 Joo Seng Road | $13,500,000 | ||
16 | 2 Ubi View | $9,900,000 | ||
17 | 11 Serangoon North Avenue 5 | $21,600,000 | ||
18 | 130 Joo Seng Road | $14,000,000 |
1 Includes the value of Phase I of the development works which were completed in June 2014.
CAMBRIDGE INDUSTRIAL TRUST Page 2 of 5
No. | Address | Market Valuation as at 30 June 2014 | |
19 | 2 Jalan Kilang Barat | $29,000,000 | |
20 | 87 Defu Lane 10 | $16,800,000 | |
21 | 55 Ubi Avenue 3 | $21,600,000 | |
22 | 128 Joo Seng Road | $12,300,000 | |
23 | 1/2 Changi North Street 2 | $23,200,000 | |
24 | 16 Tai Seng Street | $73,000,000 | |
25 | 54 Serangoon North Avenue 4 | $21,000,000 | |
26 | 70 Seletar Aerospace View | $8,800,000 | |
27 | 11 Chang Charn Road | $32,000,000 | |
General Industrial Properties | |||
28 | 86/88 International Road | $40,700,000 | |
29 | 9 Tuas View Crescent | $11,100,000 | |
30 | 31 Kian Teck Way | $5,500,000 | |
31 | 45 Changi South Avenue 2 | $13,700,000 | |
32 | 2 Tuas South Avenue 2 | $35,300,000 | |
33 | 28 Woodlands Loop | $17,800,000 | |
34 | 28 Senoko Drive | $14,000,000 | |
35 | 31 Changi South Avenue 2 | $9,300,000 | |
36 | 23 Woodlands Terrace | $18,000,000 | |
37 | 21B Senoko Loop | 2 $25,300,000 | |
38 | 22 Chin Bee Drive | $15,500,000 | |
39 | 511/513 Yishun Industrial Park A | $33,200,000 | |
40 | 60 Tuas South Street 1 | $6,400,000 | |
41 | 5/7 Gul Street 1 | $14,500,000 | |
42 | 25 Pioneer Crescent | $15,800,000 | |
43 | 43 Tuas View Circuit | $14,800,000 | |
44 | 11 Woodlands Walk | $17,300,000 | |
45 | 30 Marsiling Industrial Estate Road 8 | $39,000,000 | |
46 | 15 Jurong Port Road | $43,000,000 | |
47 | 3 Tuas South Avenue 4 | 3 $22,800,000 |
2 Includes the value of the development works (AEI).
3 Value based on CIT's effective 60% interest in the property.
CAMBRIDGE INDUSTRIAL TRUST Page 3 of 5
No. | Address | Market Valuation as at 30 June 2014 | |
Car Showroom and Workshop Properties | |||
48 | 30 Teban Gardens Crescent | $41,000,000 |
Colliers International Consultancy & Valuation (Singapore) Pte Ltd valued all 48 CIT
properties.
Copies of the valuation reports for the above properties are available for inspection by prior appointment at the Manager's registered office at 61 Robinson Road, #12-01, Robinson Centre, Singapore 068893 during normal business hours for three months from the date of this announcement.
Cambridge Industrial Trust Management Limited
As Manager of Cambridge Industrial Trust
(Company Registration No. 200512804G, Capital Markets Services Licence No. 100132-2)
Philip Levinson
Chief Executive Officer and Executive Director
24 July 2014
Ms Caroline Fong
Head of Investor Relations and Corporate Communications
(65) 6222 3339 caroline.fong@cambridgeitm.com
CAMBRIDGE INDUSTRIAL TRUST Page 4 of 5
Cambridge Industrial Trust ("CIT"), publicly listed on the Singapore Exchange Securities Trading Limited since 25 July 2006, is Singapore's first independent industrial real estate investment trust ("REIT").
CIT invests in quality income-producing industrial properties and has a diversified portfolio of
48 properties located across Singapore, with a total gross floor area of approximately 8.1 million sq ft and a property value of S$1.3 billion as at 30 June 2014.They range from logistics, warehousing, light industrial, general industrial to car showroom and workshop properties, which are located close to major transportation hubs and key industrial zones island-wide.
The Manager's objective is to provide Unitholders with a stable and secure income stream through the successful implementation of the following strategies:
• Acquisition of value-enhancing properties;
• Pro-active asset management;
• Divestment of non-core properties; and
• Prudent capital and risk management.
Cambridge Industrial Trust Management Limited, the Manager of CIT, is indirectly owned by three strategic sponsors, namely, National Australia Bank Group ("NAB") (56%), Oxley Group (24%) and Mitsui & Co., Ltd ("Mitsui") (20%):
• NAB, one of Australia's four largest banks, is an international financial services group that provides a comprehensive and integrated range of financial products and services;
• Oxley Group is an innovative private investment house specialising in real estate and
private equity investments across Asia-Pacific; and
• Mitsui is one of the largest corporate conglomerates in Japan and listed on the Tokyo Stock Exchange. It is one of the largest publicly traded companies in the world. Mitsui also developed the Japan Logistics Fund Inc., a publicly listed REIT in Japan dedicated to investing in distribution facilities.
For further information on CIT, please visit http://www.cambridgeindustrialtrust.com/
CAMBRIDGE INDUSTRIAL TRUST Page 5 of 5
The value of units in CIT ("Units") and the income derived from them may fall as well as rise. Units are not investments or deposits in, or liabilities or obligations, of Cambridge Industrial Trust Management Limited ("Manager"), RBC Investor Services Trust Singapore Limited (in its capacity as trustee of CIT) ("Trustee"), or any of their respective related corporations and affiliates (including but not limited to National Australia Bank Limited, nablnvest Capital Partners Pty Limited, or other members of the National Australia Bank group) and their affiliates (individually and collectively "Affiliates"). An investment in Units is subject to equity investment risk, including the possible delays in repayment and loss of income or the principal amount invested. Neither CIT, the Manager, the Trustee nor any of the Affiliates guarantees the repayment of any principal amount invested, the performance of CIT, any particular rate of return from investing in CIT, or any taxation consequences of an investment in CIT. Any indication of CIT performance returns is historical and cannot be relied on as an indicator of future performance.
Investors have no right to request that the Manager redeem or purchase their Units while the Units are listed. It is intended that investors may only deal in their Units through trading on Singapore Exchange Securities Trading Limited (the "SGX-ST"). Listing of the Units on the SGX-ST does not guarantee a liquid market for the Units.
This release may contain forward-looking statements that involve assumptions, risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of 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, competition from similar developments, shifts in expected levels of occupancy or property rental income, changes in operating expenses (including employee wages, benefits and training costs), governmental and public policy changes and the continued availability of financing in amounts and on terms necessary to support future CIT business. You are cautioned not to place undue reliance on these forward-looking statements, which are based on the Manager's current view of future events.
This release is for informational purposes only and does not have regard to your specific investment objectives, financial situation or your particular needs. Any information contained in this release is not to be construed as investment or financial advice, and does not constitute an offer or an invitation to invest in CIT or any investment or product of or to subscribe to any services offered by the Manager, the Trustee or any of the Affiliates.
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