1H 2007 Outperforms Forecast by 11.9%
A sterling six months' performance from CCT
- CCT achieved DPU growth of 21.2% for 1H 2007
   
CapitaCommercial Trust ("CCT") reported a 21.2% jump in its distribution per unit ("DPU") to 4.23 cents per unit for the first half of the financial year from 1 January 2007 to 30 June 2007 from 3.49 cents per unit reported for the corresponding period in 2006. This is also 11.9% higher than the first half 2007 DPU forecast of 3.78 cents as stated in the CCT circular dated 15 August 2006.

Chairman of CCT Manager, Mr Richard Hale said, "CapitaCommercial Trust has achieved excellent results in the first half. With the continuing strong economic growth in Singapore, the trust´s net asset value and its average rent have also been on the rise." Mr Hale added that to maintain future growth, the trust´s core strategy will include acquiring buildings under development and taking direct stakes in development projects both in Singapore and abroad.

 
    CCT to Acquire New Mixed Development along Wilkie Road
 
On 20 July 2007, CCT entered into an agreement to buy Wilkie Edge, a proposed 12-storey mixed development comprising office, retail and serviced apartment units with basement car park and ancillary facilities for S$262m. If the vendor exercises the option to nominate a party to lease the serviced apartments for a lease consideration of S$79.3m, the purchase consideration to CCT will be S$182.7m. With a gross floor area of about 29,812 square metres, Wilkie Edge is still under development and targeted to complete in the fourth quarter of 2008.

With this acquisition, CCT's total assets will grow to around S$4.8 billion in 2008 from the current S$4.6 billion.
 
Artist´s impression of Wilkie Edge.
Subject to authority's approval..
 


MICA(P) 167/07/2007