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Download Full Report - Ascendas REIT

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Sector<br />

Revaluation<br />

Gain / (Loss) @ 31<br />

Mar 10 (S$’m)<br />

%<br />

Change<br />

Business & Science Parks 2.0 0.1<br />

Hi-Tech Industrial 6.8 0.6<br />

Light Industrial (25.8) (3.0)<br />

Logistics & Distribution Centres (36.9) (3.1)<br />

Warehouse Retail Facilities 0.2 0.1<br />

Total (53.7) (1.1)<br />

Asset Class Diversification<br />

(by Asset Value)<br />

Note:<br />

* Excludes DBS Asia Hub and 31 Joo Koon Circle which were acquired in March 2010<br />

sqm of which Citibank N.A. has<br />

committed to lease 50% of the space.<br />

Stable Portfolio Value<br />

The Manager, required under the<br />

<strong>REIT</strong> guidelines, has obtained a<br />

new independent valuation, as<br />

of 31 March 2010, for its portfolio<br />

of 91 properties. An average<br />

capitalization rate of 6.8%<br />

was applied by the valuers. A<br />

marginal devaluation of S$53.7m<br />

representing a 1.1% of decline in the<br />

total value of the property portfolio.<br />

As at 31 March 2010, based on<br />

the revalued property values, the<br />

passing NPI yield on the portfolio<br />

was about 7.3%.<br />

Proactive Asset Management:<br />

Extracting Growth; Accreting<br />

Portfolio<br />

Diversified Portfolio with a Well<br />

Balance Lease Tenure<br />

A-<strong>REIT</strong> has a balanced and<br />

well-diversified portfolio of 93<br />

properties across six sub-sectors<br />

providing real estate solutions to<br />

an array of customers from various<br />

industries. These sub-sectors<br />

comprise, by asset value, Business<br />

& Science Parks (32.9%), Hi-Tech<br />

Industrial (22.2%), Light Industrial<br />

(12.0%), Flatted Factories (5.6%) and<br />

Logistics & Distribution Centres<br />

(24.4%) as well as Warehouse Retail<br />

Facilities (2.9%).<br />

Business & Science Parks 32.9%<br />

Hi-Tech Industrial 22.2%<br />

Light Industrial 12.0%<br />

Flatted Factories 5.6%<br />

Logistics & Distribution<br />

Centres<br />

24.4%<br />

Warehouse Retail Facilities 2.9%<br />

Business &<br />

Science Parks<br />

28.1%<br />

71.9%<br />

Hi-Tech<br />

Industrial<br />

46.0%<br />

Logistics &<br />

Distribution Centres<br />

57.5%<br />

42.5%<br />

Light Industrial<br />

23.2%<br />

54.0%<br />

76.8%<br />

Short Term Leases<br />

Long Term Leases<br />

8th Annual <strong>Report</strong> FY09/10<br />

27

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