94
Ascott Residence Trust
Annual Report 2015
Financial Review
Fixed vs Floating Rate Profile
80%
20%
79%
21%
2015
Maturity
S$’m %
Fixed Rate 1,428.7 79
Floating Rate 386.5 21
Total
1,815.2
1
100
2014
Maturity
S$’m %
Fixed Rate 1,234.5 80
Floating Rate 316.4 20
Total
1,550.9
1
100
1
Net of unamortised fees and expenses incurred for debt raising exercise.
Fixed Rate Loans
This has taken into account the interest rate swaps
entered into to convert floating rate loans to fixed rate
loans. As at 31 December 2015, S$1,428.7
1
million or
79% of the Group’s borrowings are on fixed interest
rates, including S$218.6
1
million due for refinancing in
2016, in line with the maturity dates of the underlying
loans.
CASH FLOW
As at 31 December 2015, Ascott Reit’s cash and cash
equivalents was S$220.5 million, an increase of S$27.9
million over last year. The major cash flow movements
are as follows:
S$’m
Proceeds from issue of medium term notes
280.7
Proceeds from issue of perpetual securities, net of transaction costs
247.2
Cash generated from operations
201.6
Net proceeds from bank borrowings
90.0
Proceeds from divestments of serviced residence properties
58.1
Proceeds from disposal of assets held for sale
9.1
Acquisitions of serviced residence properties / plant and equipment
(430.4)
Repayment of medium term notes
(150.0)
Distributions to Unitholders and perpetual securities holders
(138.1)
Payment of interest and income tax
(72.7)
Capital expenditure on serviced residence properties
(35.2)
Payments for acquisition of ownership interests in subsidiaries with no change in control
(31.6)
