Circular to Unitholders - Suntec REIT

4.2.1 Pro Forma DPU
The pro forma financial effects of the Acquisition on Suntec REIT’s DPU for FY2006, as
if the Acquisition was completed on 1 October 2005, and held for FY2006, are as follows:
Existing Properties
Enlarged Portfolio
Net income before tax (S$’000) 79,164 69,586 (1)
Distributable Income (S$’000) 94,935 100,032
Issued Units (’000) 1,302,139 (2) 1,359,841 (3)
DPU (cents) (excluding Deferred Units) 7.29 7.36
Issued Units (’000) (Assuming that all
Deferred Units were issued on the Listing
Date)
DPU (cents) (Assuming that all Deferred
Units were issued on the Listing Date)
Issued Units (’000) (Assuming that the
Convertible Bonds were fully converted on 1
October 2005)
DPU (cents) (Assuming that the Convertible
Bonds were fully converted on 1 October
2005)
Issued Units (’000) (Assuming that all
Deferred Units were issued on the Listing
Date and the Convertible Bonds were fully
converted on 1 October 2005)
DPU (cents) (Assuming that all Deferred
Units were issued on the Listing Date and
the Convertible Bonds were fully converted
on 1 October 2005)
1,509,141 (4) 1,566,843 (5)
6.29 6.38
NA 1,539,052 (6)
NA 6.50
NA 1,746,054 (7)
NA 5.73
Notes:
(1) Includes Suntec REIT’s 33.3% share of loss in ORQPL, where temporary occupation permit (“TOP”) was
only obtained on 24 April 2006 for the South Tower and 26 October 2006 for the North Tower.
(2) Comprises of 1,299,937,526 Units issued as at 30 September 2006 and 2,201,468 Units issued in
October 2006 as partial satisfaction of asset management fees incurred for the quarter ended 30
September 2006.
(3) Comprises the Units set out in Note 2, 50,615,887 Consideration Units assumed to be issued as partial
consideration for the Acquisition at an illustrative price of S$1.86 per Unit, and 5,061,589 Units assumed
to be issued in satisfaction of the acquisition fee payable to the Manager for the Acquisition at an
illustrative price of S$1.86 per Unit. An additional 2,024,386 Units assumed to be issued as part
satisfaction of the asset management fees payable to the Manager at an illustrative price of S$1.85 per
Unit, as a result of the Acquisition.
(4) Comprises the Units set out in Note 2 and 207,002,170 Deferred Units.
(5) Comprises the Units set out in Note 3 and 207,002,170 Deferred Units.
(6) Comprises the Units set out in Note 3 and 179,211,470 Conversion Units assumed to be issued as at 30
September 2006.
(7) Comprises the Units set out in Note 5 and 179,211,470 Conversion Units assumed to be issued as at 30
September 2006.
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