Annual Report 2007 - The Link REIT

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112 The Link Real Estate Investment Trust Annual Report 2007 Notes to the Consolidated Financial Statements 27 Subsidiaries The Link REIT held the following wholly owned subsidiaries as at 31 March 2007: Name Place of establishment and kind of legal entity/place of operations Principal activities Particulars of issued share capital Interest held Directly held: The Link Holdings Limited Cayman Islands, limited liability company/ Hong Kong Investment holding US$1 100% The Link Management Limited Indirectly held: The Link Properties Limited The Link Finance Limited The Link Finance (Cayman) 2006 Limited Hong Kong, limited liability company/ Hong Kong Cayman Islands, limited liability company/ Hong Kong Hong Kong, limited liability company/ Hong Kong Cayman Islands, limited liability company/ Hong Kong Asset management HK$5,000,001 100% Property holding US$1 100% Financing HK$1 100% Financing US$1 100% 28 Contingent liabilities The Link Holdings Limited, a subsidiary, and the Trustee have jointly and severally executed guarantees in favour of a bank in respect of a facility granted to a subsidiary for issuance of bank guarantees to utilities companies. The facility amounts to HK$70 million (2006: HK$70 million), of which HK$52 million has been utilised as at 31 March 2007 (2006: HK$52 million). 29 Comparatives Certain comparative figures have been reclassified to conform with current year’s presentation. 30 Approval of the financial statements The consolidatedfinancial statements were authorised for issue by the Manager and the Trustee on 8 June 2007.
Annual Report 2007 The Link Real Estate Investment Trust 113 Performance Table As at 31 March 2007 Year ended Period ended 31 March 2007 31 March 2006 Net assets attributable to unitholders as at 31 March HK$26,789 million HK$23,715 million Net asset value per unit as at 31 March HK$12.53 HK$11.09 The highest premium of the traded price to net asset value (Note a) HK$7.47 HK$6.96 Distribution per unit HK67.43 cents HK21.81 cents Market price as at 31 March HK$18.80 HK$16.80 Net yield per unit (Note b) 3.59% 3.73% Number of units in issue as at 31 March 2,137,454,000 2,137,454,000 Note: (a) The highest premium is calculated based on the highest traded price of HK$20.00 (2006: HK$18.05) on The Stock Exchange of Hong Kong Limited during the year/period. The lowest traded price during the year/period was HK$14.50 (2006: HK$11.10) which is higher than the net asset value as at 31 March 2007. Accordingly, no discount of the traded price to net asset value is presented. (b) Net yield per unit is calculated based on distribution per unit for the year ended 31 March 2007 of HK67.43 cents (Period ended 31 March 2006: HK62.68 cents (annualised)) over the last traded price as at 31 March 2007 of HK$18.80 (2006: HK$16.80).
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Stock Code: 823 The Link Real Estat
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Designed and produced by : Equity F
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