Annual Report 2012 - singapore land limited

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Singapore Land Limited - Annual Report 2012
MANAGEMENT REVIEW
WEST MALL
Being directly connected to the Bukit Batok MRT, West
Mall remained a focal point for residents of Bukit Batok,
Jurong East, Hillview, Upper Bukit Timah and Clementi.
Shopper traffi c recorded at the mall for the year was
around 12 million.
An upbeat acrobatic performance from Shandong, China
ushered in the Chinese New Year at the mall. The acrobatic
performance together with the Carlsberg roadshow and
lion dance by 10 majestic lions from the Bukit Batok
West Mall
Community Club brought delight to shoppers. During the
year, the mall supported public outreach programmes
organised by the Bukit Batok Community Club such as
Line Dancing and Community Music Time. The mall also
took part in the Earth Hour on 31 March 2012.
In addition, events such as the Tamiya racing championship,
Taiwanese pop singer Alien Huang, 3-on-3 basketball
championship brought many young fans to the mall.
Total rental revenue achieved in 2012 was $31.1 million, an
increase of 2% compared with 2011.The mall maintained
an average occupancy rate of 99%. 27 leases with an
area of 43,661 square feet which expired in the year were
renewed or replaced at 20% higher than the expiring
rents. New tenants such as Ximen Jie (retailing Taiwanese
snacks), Funco Gamez, VAVA (ladies’ fashion apparels),
Surfers Paradise, Hair Inn and a new cinema operator
Cathay Cineplex were brought in to enhance the tenant mix
by providing wider choices of products and entertainment
for the shoppers. The new cinema operator commenced
operations in early February 2013.
Many tenants took the effort to refresh their shop-fronts
with trendy new look. Digital kilowatt meters were installed
at electrical switchboard to record energy consumption
of the different building services so as to monitor and
minimize energy wastages.
Velocity @ Novena Square
NOVENA SQUARE
The Group has a 20% interest in Novena Square, a
commercial development located above the Novena MRT
Station. For the year 2012, the development enjoyed 99%
occupancy for the retail mall, Velocity@Novena Square
(“Velocity”) as well as offi ce Towers A and B.
The retail mall, Velocity strengthened its sports positioning
with several innovative sports events. Three new events
- caged fl oorball challenge, paintball competition and
human-sized foosball tournament were introduced and
was well-received by shoppers. In September 2012,
Velocity forged a new alliance with the Sports Clinic of Tan
Tock Seng Hospital. The partnership allows the Sports
Clinic to share crucial sports information free to shoppers
through a series of monthly talks and vital information
posted on Velocity’s Facebook page.