CAPITALAND COMMERCIAL TRUST
Annual Report 2018
WE ARE
SHAPING OUR FUTURE
WE ARE
SHAPING OUR FUTURE
Grounded with the right values and learning experiences, children have the potential to develop into pillars of strength and models of success.
Similarly, grounded on firm values, responsibility, foresight and agility, CapitaLand Commercial Trust continues to succeed from strength to strength through professional excellence and value creation. It is about the way we nurture our people, build communities, curate our environment, grow our portfolio and shape our future.
OUR VISION
OUR MISSION
To be a leading commercial REIT backed by a portfolio of quality income-producing commercial buildings, and led by a dedicated and experienced management team.
To deliver long-term sustainable distribution and total returns to Unitholders.
CONTENTS
SHAPING OUR FUTURE ON FIRM VALUES
Overview
02 2018 Highlights
04 Financial Highlights
07 Year in Brief 2018
08 Message to Unitholders
15 Property Portfolio
18 Value Creation
SHAPING OUR FUTURE WITH RESPONSIBILITY
Corporate Governance & Transparency
22 Trust Structure & Organisation Structure
23 Board of Directors
28 The Manager
29 Corporate Governance
55 Enterprise Risk Management
59 Investor Relations & Communications
Sustainability
61 Sustainability Management
SHAPING OUR FUTURE WITH FORESIGHT AND AGILITY
Business Review
92 Independent Market Review
100 Operations Review
108 Financial Review
116 Property Details
125 Glossary
Financials & Additional Information
127 Financial Statements and Notes
222 Additional Information
230 Statistics of Unitholdings
Corporate Information
Any discrepancies in the tables and charts between the listed figures and totals thereof are due to rounding. Where applicable, figures and percentages are rounded to one decimal place.
CORPORATE PROFILE
CapitaLand Commercial Trust
(CCT or the Trust) was the first and is the largest commercial (office) REIT listed on Singapore Exchange Securities Trading Limited (SGX-ST) with a market capitalisation of S$6.6 billion as at
31 December 2018. CCT aims to own and invest in commercial real estate and real estate-related assets which are largely income producing, in Singapore and key gateway cities in developed markets. CCT will remain predominantly focused in Singapore with an overseas exposure of up to 20% of its portfolio property value over time. The total deposited properties of CCT was S$11.2 billion as at 31 December 2018, comprising a portfolio of 10 prime commercial properties in Singapore and Germany, including joint ventures. CCT's overseas exposure is currently in Germany and accounts for 5% of its portfolio property value.
Listed on SGX-ST since 11 May 2004,
CCT was created through a distribution in specie by CapitaLand Limited (CapitaLand) to its shareholders.
The Trust is managed by an external manager, CapitaLand Commercial Trust Management Limited (CCTML, or the Manager), which is an indirect wholly owned subsidiary of CapitaLand, one of Asia's largest real estate companies headquartered and listed in Singapore.
SHAPING OUR FUTURE ON FIRM VALUES
We shape our future on firm values of respect, integrity, creativity and excellence. We also shape our future on principles of consistent and disciplined portfolio investment and capital management to generate sustainable income and distribution growth.
This is evident through our vibrant workplace communities, our resilient asset performance, our timely investments, divestments and capital recycling, our robust balance sheet as well as our efficient property operating platform.
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Disclaimer
CapitaLand Commercial Trust published this content on 13 March 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 13 March 2019 00:02:07 UTC