General Announcement::Announcements by COL Hospitality Trusts, an associate of Millennium & ...

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General Announcement::Announcements by CDL Hospitality Trusts, an associate of Millennium & Copthorne Hotels plc

Issuer & Securities

Issuer/ Manager

CITY DEVELOPMENTS LIMITED

Securities CITY DEVELOPMENTS LIMITED - SG1R89002252 - C09

Stapled Security No

Announcement Details

Announcement Title

General Announcement

Date & Time of Broadcast 26-Apr-2017 07:35:33

Status New

Announcement Sub Title Announcements by CDL Hospitality Trusts, an associate of Millennium & Copthorne Hotels plc

Announcement Reference SG170426OTHRNLTU

Submitted By (Co./ Ind. Name) Enid Ling Peek Fong

Designation Company Secretary

CDL Hospitality Trusts, an associate of Millennium & Copthorne Hotels plc, has released the following announcements to Singapore Exchange Securities Limited on 26 April 2017:-

  1. Unaudited First Quarter ended 31 March 2017 Financial Statements Announcement and Press Release on "CDL Hospitality Trusts Reports Total Distribution of S$24.1 Million for 1Q 2017"

  2. Presentation Slides for the Unaudited Results for the First Quarter ended 31 March 2017

  3. Payment of Management Fee by way of Issue of Stapled Securities in CDL Hospitality Trusts

    Description (Please provide a detailed description of the event in the box below)

  4. Disclosure of Change of Interest for Trustee-Manager or Responsible Person in respect of changes in its interest in

    securities (Form 6) in relation to M&C Business Trust Management Limited

  5. Disclosure of Change of Interest for Trustee-Manager or Responsible Person in respect of changes in its interest in securities (Form 6) in relation to M&C REIT Management Limited

  6. Changes to the Composition of the Boards of Directors and the Audit and Risk Committees

  7. Cessation of Independent Non-Executive Director who is the Lead Independent Director and Chairman of the Audit and Risk Committee

For details, please refer to the announcements posted by CDL Hospitality Trusts on the SGX website,www.sgx.com.

Financial Statements and Related Announcement::First Quarter Results

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Financial Statements and Related Announcement::First Quarter Results Issuer & Securities

Issuer/ Manager

M&C REIT MANAGEMENT LIMITED

Securities CDL HOSPITALITY TRUSTS - SG1T66931158 - J85

Stapled Security Yes

Other Issuer(s) for Stapled Security

Name

DBS TRUSTEE LIMITED

Announcement Details

Announcement Title

Financial Statements and Related Announcement

Date & Time of Broadcast 26-Apr-2017 07:18:12

Status New

Announcement Sub Title First Quarter Results

Announcement Reference SG170426OTHR7FH5

Submitted By (Co./ Ind. Name) Enid Ling Peek Fong

Designation Company Secretary

Description (Please provide a detailed description of the event in the box below - Refer to the Online help for the format)

Please refer to the attached documents:

  1. Unaudited Financial Statements Announcement of CDL Hospitality Trusts, H-REIT and its Subsidiaries and HBT and its Subsidiaries for the First Quarter Ended 31 March 2017.

  2. Press release on "CDL Hospitality Trusts Reports Total Distribution of S$24.1 Million for 1Q 2017".

Additional Details

For Financial Period Ended

31/03/2017

Attachments

CDLHT_Announcement_1Q2017.pdf

CDLHT_1Q 2017_Press Release_Final.pdf Total size =1607K

CDL HOSPITALITY TRUSTS UNAUDITED FINANCIAL STATEMENTS ANNOUNCEMENT OF CDL HOSPITALITY TRUSTS, H-REIT AND ITS SUBSIDIARIES AND HBT AND ITS SUBSIDIARIES FOR THE FIRST QUARTER ENDED 31 MARCH 2017

TABLE OF CONTENTS

INTRODUCTION

Page

1

SUMMARY OF CDL HOSPITALITY TRUSTS' RESULTS

2

1(a)

STATEMENTS OF TOTAL RETURN AND STATEMENTS OF COMPREHENSIVE INCOME

3 - 7

1(b)(i)

STATEMENTS OF FINANCIAL POSITION

8 - 9

1(b)(ii)

AGGREGATE AMOUNT OF GROUP'S BORROWINGS AND DEBT SECURITIES

10 - 11

1(c)

STATEMENTS OF CASH FLOWS

12 - 13

1(d)

STATEMENT OF MOVEMENTS IN STAPLED SECURITYHOLDERS' FUNDS

14 - 16

1(e)

DETAILS OF ANY CHANGES IN THE STAPLED SECURITIES

17

2

AUDIT STATEMENT

18

3

AUDITORS' REPORT

18

4

ACCOUNTING POLICIES

18

5

CHANGES IN ACCOUNTING POLICIES

18

6

EARNINGS PER STAPLED SECURITY AND DISTRIBUTION PER STAPLED SECURITY

19

7

NET ASSET VALUE/NET TANGIBLE ASSET PER UNIT

19

8

REVIEW OF PERFORMANCE

20 - 24

9

VARIANCE BETWEEN FORECAST OR PROSPECTUS STATEMENT AND ACTUAL

24

10

OUTLOOK AND PROSPECTS

25

11

DISTRIBUTIONS

26

12

DISTRIBUTION STATEMENT

26

13

GENERAL MANDATE RELATING TO INTERESTED PERSON TRANSACTIONS

26

14

CONFIRMATION PURSUANT TO RULE 705(5) OF THE LISTING MANUAL

26

15

CONFIRMATION PURSUANT TO RULE 720(1) OF THE LISTING MANUAL

26

A stapled group comprising:

CDL HOSPITALITY REAL ESTATE INVESTMENT TRUST AND ITS SUBSIDIARIES

(a real estate investment trust constituted on 8 June 2006 under the laws of the Republic of Singapore)

and

CDL HOSPITALITY BUSINESS TRUST AND ITS SUBSIDIARIES

(a business trust constituted on 12 June 2006 under the laws of the Republic of Singapore)

CDL HOSPITALITY TRUSTS UNAUDITED FINANCIAL STATEMENTS ANNOUNCEMENT OF CDL HOSPITALITY TRUSTS, H-REIT AND ITS SUBSIDIARIES AND HBT AND ITS SUBSIDIARIES FOR THE FIRST QUARTER ENDED 31 MARCH 2017

INTRODUCTION

CDL Hospitality Trusts ("CDLHT") is a stapled group comprising CDL Hospitality Real Estate Investment Trust ("H-REIT"), a real estate investment trust, and CDL Hospitality Business Trust ("HBT"), a business trust. CDL Hospitality Trusts was listed on the Singapore Exchange Securities Trading Limited ("SGX") on 19 July 2006.

The H-REIT Units and HBT Units are stapled together under the terms of a stapling deed dated 12 June 2006 entered into between M&C REIT Management Limited (the "H-REIT Manager"), DBS Trustee Limited (the "H-REIT Trustee") and M&C Business Trust Management Limited (the "HBT Trustee-Manager") and cannot be traded separately.

H-REIT, the first hotel real estate investment trust in Singapore, is established with the principal investment strategy of investing, directly or indirectly, in a diversified portfolio of income-producing real estate which is primarily used for hospitality and/or hospitality-related purposes, whether wholly or partially, and real estate-related assets in relation to the foregoing.

As of 31 March 2017, CDLHT owns 15 hotels and two resorts comprising a total of 4,912 rooms as well as a retail mall. The properties under CDLHT's portfolio are:

  1. six hotels in the gateway city of Singapore comprising Orchard Hotel, Grand Copthorne Waterfront Hotel, M Hotel, Copthorne King's Hotel, Novotel Singapore Clarke Quay and Studio M Hotel (collectively, the "Singapore Hotels"), as well as a retail mall adjoining Orchard Hotel (Claymore Connect);

  2. five hotels in Brisbane and Perth, Australia, comprising Novotel Brisbane, Mercure Brisbane, Ibis Brisbane, Mercure Perth and Ibis Perth (collectively, the "Australia Hotels");

  3. two hotels in Japan's gateway city of Tokyo, comprising Hotel MyStays Asakusabashi and Hotel MyStays Kamata, (collectively, the "Japan Hotels");

  4. one hotel in New Zealand's gateway city of Auckland, namely Grand Millennium Auckland (formerly known as Rendezvous Hotel Auckland) (the "New Zealand Hotel");

  5. one hotel in Cambridge, United Kingdom, namely Hilton Cambridge City Centre (the "UK Hotel"); and

  6. two resorts in Maldives comprising Angsana Velavaru and Jumeirah Dhevanafushi, (collectively, the "Maldives Resorts").

In December 2013, the HBT Trustee-Manager activated HBT. As at 31 March 2017, it owns Hilton Cambridge City Centre and is the master lessee of the Japan Hotels and Jumeirah Dhevanafushi, both of which are owned by the H-REIT group. It will continue its functions as a master lessee of last resort and may undertake certain hospitality and hospitality-related development projects, acquisitions and investments which may not be suitable or deemed suitable for H-REIT.

CDLHT's distribution policy is to distribute at least 90.0% of its taxable income and of its tax exempt income (if any), with the actual level of distribution to be determined at the H-REIT Manager's and HBT Trustee-Manager's discretion. CDLHT makes distributions to stapled securityholders on a semi-annual basis, with the amount calculated as at 30 June and 31 December each year for the six-month period ending on each of the said dates. Distributions, when paid, will be in Singapore dollars.

1

CDL - City Developments Ltd. published this content on 26 April 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 26 April 2017 01:58:17 UTC.

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