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MANAGER’S REPORT Within the portfolio, there is a fine mix, by asset value, of single-tenanted properties (45.6%) typically with long term leases and multi-tenanted properties (54.4%) with short term leases. Long term leases usually incorporate periodic stepped rental increases of which 32.5% of such leases have rental escalation pegged to CPI. Long term leases provide stable growth for the portfolio while short term leases could enjoy positive rental reversion during the upswing of the economy. Short term & long term leases (by Asset Value) Long term leases typically with periodic rental escalation, of which 32.5% of leases are pegged to CPI Multi-Tenanted Buildings 54.4% Single-Tenanted Buildings 45.6% Typically 3-year rolling leases The weighted average lease to expiry is 4.8 years as at 31 March 2010 with 15.3% of A-REIT’s gross rental income due for renewal in FY10/11. The lease expiry profile remains well balanced and extends beyond 2024. Diversified tenant base A-REIT’s portfolio of 93 properties currently house a tenant base of about 930 international and local companies from over 20 countries and spread over a wide range of industries and activities, including research and development, life sciences, information technology, engineering, light manufacturing, logistics service providers, electronics, telecommunications, manufacturing services and backroom office support. These sub- FY10/11 Weighted Average Lease Term to Expiry 20% 15% 10% 5% Business & Science Parks 23.3% Hi-Tech Industrial 24.9% Light Industrial/ Flatted Factories Logistics & Distribution Centres % of Gross Rental Income 0 15.3% FY10/11 FY11/12 15.7% 12.5% FY12/13 14.5% FY13/14 10.4% FY14/15 20.4% 31.4% FY15/16 6.2% 5.9% 1.6% FY16/17 FY17/18 3.5% FY18/19 1.7% FY19/20 4.3% FY20/21 0.0% 0.5% 8.0% FY21/22 FY22/23 FY23/24 28 Ascendas real estate investment trust
land lease expiry for A-REIT’s portfolio Land Tenure Expiry Year Business & Science Parks Hi-Tech Industrial Light Industrial Logistics & Distribution Centres Warehouse Retail Facilities Total Pty S$‘m Pty S$‘m Pty S$‘m Pty S$‘m Pty S$‘m Pty S$‘m
Page 1 and 2: 8th Annual Report FY09/10 C H A N G
Page 3 and 4: Changing Times... The implosion of
Page 5 and 6: About A-REIT Ascendas Real Estate I
Page 7 and 8: A-REIT’s Competitive Edge Operati
Page 9 and 10: oct 09 7 19 A-REIT was voted the Wi
Page 11 and 12: NUMBER OF PROPERTIES IN PORTFOLIO 9
Page 13 and 14: A-REIT Unit Price Performance FY09/
Page 15 and 16: 8th Annual Report FY09/10 13
Page 17 and 18: capital structure. A-REIT issued a
Page 19 and 20: 董事会主席献辞变迁
Page 21 and 22: 在这个举步维艰的时
Page 23 and 24: Portfolio organic growth of 2.9% wa
Page 25 and 26: was in view of the significant amou
Page 27 and 28: S$’000 FY09/10 FY08/09 FY07/08 FY
Page 29: Sector Revaluation Gain / (Loss) @
Page 33 and 34: Area due for renewal (‘000sf) Ave
Page 37 and 38: 5 6 7 8 5 Mr Koh Soo Keong Independ
Page 39 and 40: Tan Ser Ping Executive Director Chi
Page 41 and 42: 13 Kathryn Chew 14 Chan Lai Kuan 15
Page 43 and 44: UNITHOLDERS ASCENDAS FUNDS MANAGEME
Page 45 and 46: formulate and implement effective m
Page 49 and 50: North South MRT Line East West MRT
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Page 53 and 54: LOGISTICS & DISTRIBUTION CENTRES Wa
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Page 57 and 58: Address Gross Income for FY09/10 (S
Page 77 and 78: seen since 2003 1 , significantly h
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to S$1.87 per sq ft, while rents fo
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manufacturers anticipates a more fa
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8th Annual Report FY09/10 83
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the chance to take part in intercom
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A-REIT was voted Singapore’s 8 th
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8th Annual Report FY09/10 89
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A-REIT is externally managed by the
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Executive Committee The Executive C
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Trading Of A-REIT’s Units In gene
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Dealing With INTERESTED Party Trans
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FINANCIAL CONTENTS 100 Report of th
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Statement by the Manager In the opi
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Opinion In our opinion, the financi
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Statement of Total Return Year ende
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Statement of Movements in Unitholde
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Investment Properties Portfolio Sta
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Cash Flow Statement Year ended 31 M
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STATISTICS OF UNITHOLDINGS Issued a
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ADDItional information Interested p
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ADDItional information Historical s
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HOW TO CONTACT US To find out more
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Ascendas Real Estate Investment Tru
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