Cambridge Industrial : Citi Asean C-Suite Forum 2016

Robust Portfolio Management

• Increase in Portfolio Net Property Income

  • 1.2% increase year-on-year due to acquisitions and benefits of completed AEI/Capex projects

• Proactive asset management

  • Weighted Average Lease Expiry remains steady at 3.6 years (by rental income)

• Positive rental reversions

  • 1Q2016 positive rental reversion of 2.9 % and retention rate of 89 %

• Healthy portfolio occupancy

  • Portfolio occupancy remains steady at 94.1 %

• Targeted Divestment Strategy

  • Proposed sale of 23 Tuas Avenue 10

Stable Performance and Prudent Capital Management

• DPU - Achieved 1.112 cents for 1Q2016

  • Up 3.8 % QonQ, on a like-for-like basis

  • Quality of earnings has improved due to the lack of capital distributions and the 100 % payment of management fees in cash

  • 102 % of net income is paid out compared to 116 % in 1Q2015

• 96.7% of interest rates fixed for the next 2.7 years

1Q2016

(S$ million)

1Q2015

(S$ million)

YoY

(%)

Adjusted

1Q2015

(S$ million) (4)

Adjusted

YoY (%)

Gross Revenue (1)

28.4

27.5

3.2

27.5

3.2

Net Property Income (2)

21.5

21.2

1.2

21.2

1.2

Net Income

14.2

13.6

4.3

12.8

10.9

Net effect of non-taxable items

0.3

1.0

Distribution from capital

-

1.1

Amount available for distribution (3)

14.5

15.7

7.5

13.7

5.8

Distribution Per Unit(4) ("DPU") (cents)

1.112

1.225

9.2

1.071

3.8

Annualised DPU (cents)

4.448

4.900

9.2

4.284

3.8