Breakdown of total unitholders’ distribution for FY2014 is as follows:
Distribution
1 January 2014 to
30 June 2014
1 July 2014 to
31 December 2014
1 January 2014 to
31 December 2014
Distribution rate
3.937 cents per unit
4.264 cents per unit
8.201 cents per unit
Payment Date
25 August 2014
27 February 2015
Ascott Reit will continue to make distributions to Unitholders on a semi-annual basis, with the amount
calculated as at 30 June and 31 December each year for the six months period ending on each of
the said dates.
ASSETS
The value of Ascott Reit’s total assets as at 31 December 2014 was S$4,121.9 million, compared with
S$3,582.0 million as at 31 December 2013. The increase of S$539.9 million was mainly due to the
2014 Acquisitions.
CHANGE IN VALUE OF SERVICED RESIDENCE PROPERTIES AND ASSETS HELD FOR SALE
The net change in fair value of serviced residence properties has no impact on the Unitholder’s
distribution.
In accordance with the Code on Collective Investment Schemes issued by the Monetary Authority of
Singapore, valuations of Ascott Reit’s serviced residence properties are to be conducted once every
year. Any increase or decrease in fair value is credited or charged to the Statement of Total Return
as net appreciation or depreciation on revaluation of serviced residence properties.
As at 31 December 2014, independent full valuations for the Group’s portfolio (except for the four
properties acquired in 4Q 2014 and Somerset Ampang Kuala Lumpur) were carried out by Jones
Lang LaSalle Property Consultants Pte Ltd. For the four properties acquired in 4Q 2014, the
independent valuations obtained for the acquisition were adopted as at 31 December 2014. The
independent full valuation for Somerset Ampang Kuala Lumpur was carried out by C H Williams
Talhar & Wong Sdn Bhd (as consultant to Jones Lang LaSalle Property Consultants Pte Ltd) on
31 December 2014.
In determining the fair value of the Group’s portfolio, the Discounted Cash Flow approach was used.
Pursuant to the launch of the strata sale of the units at Somerset Grand Fortune Garden Property
Beijing, these units have been classified as assets held for sale and the valuation of Somerset Grand
Fortune Garden Property Beijing was based on the direct comparison and investment approaches.
The valuation method used was consistent with that used for the 31 December 2013 valuation.
The Group’s portfolio of serviced residence properties (including asset held for sale) was revalued
at S$3,811.4 million, resulting in a surplus of S$63.0 million which was recognised in the
Consolidated Statement of Total Return in FY 2014. The surplus was mainly due to higher valuation
of the Group’s serviced residences in China, United Kingdom, Belgium and Japan. The net impact
on the Consolidated Statement of Total Return was S$49.3 million (net of tax and non-controlling
interests).
Pursuing Growth | 57
