29/01/2021

General Announcement::Announcements by CDL Hospitality Trusts

GENERAL ANNOUNCEMENT::ANNOUNCEMENTS BY CDL HOSPITALITY TRUSTS

Issuer & Securities

Issuer/ Manager

CITY DEVELOPMENTS LIMITED

Securities

CITY DEVELOPMENTS LIMITED - SG1R89002252 - C09

Stapled Security

No

Announcement Details

Announcement Title

General Announcement

Date &Time of Broadcast

29-Jan-2021 17:20:36

Status

New

Announcement Sub Title

Announcements by CDL Hospitality Trusts

Announcement Reference

SG210129OTHRR4C1

Submitted By (Co./ Ind. Name)

Enid Ling Peek Fong

Designation

Company Secretary

Description (Please provide a detailed description of the event in the box below)

CDL Hospitality Trusts has on 29 January 2021, released the following announcements:

  1. Unaudited Financial Statements Announcement for the Six Months Period and Year Ended 31 December 2020 and Press Release on "CDL Hospitality Trusts Reports Total Distribution of S$42.1 Million for 2H2020";
  2. Presentation Slides for the Unaudited Results for the Six Months Period and Year Ended 31 December 2020;
  3. Notice of Valuation of Real Assets;
  4. Payment of Management Fees by way of Issue of Stapled Securities in CDL Hospitality Trusts;
  5. Notice of Record and Distribution Payment Date (Taxable Income);
  6. Notice of Record and Distribution Payment Date (Tax Exempt Income);
  7. Notice of Record and Distribution Payment Date (Capital Component);
  8. Disclosure of Change of Interest for Trustee-Manager or Responsible Person in respect of changes in its interest in securities (Form 6) - M&C Business Trust Management Limited; and
  9. Disclosure of Change of Interest for Trustee-Manager or Responsible Person in respect of changes in its interest in securities (Form 6) - M&C REIT Management Limited.

For details, please refer to the announcements released by CDL Hospitality Trusts on the SGX website, www.sgx.com.

29/01/2021

Financial Statements and Related Announcement::Full Yearly Results

FINANCIAL STATEMENTS AND RELATED ANNOUNCEMENT::FULL YEARLY RESULTS

Issuer & Securities

Issuer/ Manager

M&C REIT MANAGEMENT LIMITED

Securities

CDL HOSPITALITY TRUSTS - SG1T66931158 - J85

Stapled Security

Yes

Other Issuer(s) for Stapled Security

Name

DBS TRUSTEE LIMITED

Announcement Details

Announcement Title

Financial Statements and Related Announcement

Date &Time of Broadcast

29-Jan-2021 07:33:08

Status

New

Announcement Sub Title

Full Yearly Results

Announcement Reference

SG210129OTHRL2C5

Submitted By (Co./ Ind. Name)

Soo Lai Sun

Designation

Company Secretary

Description (Please provide a detailed description of the event in the box below - Refer to the Online help for the format)

Please refer to the attached documents:

  1. Unaudited Financial Statements Announcement of CDL Hospitality Trusts, H-REIT and its Subsidiaries and HBT and its Subsidiaries for the Six Months Period and Year Ended 31 December 2020; and
  2. Press Release on "CDL Hospitality Trusts Reports Total Distribution of S$42.1 Million for 2H2020". Additional Details

For Financial Period Ended

31/12/2020

Attachments

CDLHT-Announcement_2H2020_FS.29012021.pdf

CDLHT-FY2020_Press_Release.29012021.pdf

Total size =1243K MB

CDL HOSPITALITY TRUSTS

UNAUDITED FINANCIAL STATEMENTS ANNOUNCEMENT OF CDL HOSPITALITY TRUSTS, H-REIT AND ITS SUBSIDIARIES AND HBT AND ITS SUBSIDIARIES FOR THE SIX MONTHS PERIOD AND YEAR ENDED 31 DECEMBER 2020

TABLE OF CONTENTS

Page

INTRODUCTION

SUMMARY OF CDL HOSPITALITY TRUSTS' RESULTS

1

1(a)

STATEMENTS OF TOTAL RETURN AND STATEMENTS OF COMPREHENSIVE INCOME

2 - 9

1(b)(i)

STATEMENTS OF FINANCIAL POSITION

10 - 12

1(b)(ii)

AGGREGATE AMOUNT OF GROUP'S BORROWINGS AND DEBT SECURITIES

13 - 15

1(c)

STATEMENTS OF CASH FLOWS

16 - 18

1(d)

STATEMENTS OF MOVEMENTS IN UNITHOLDERS' FUNDS

19 - 23

1(e)

DETAILS OF ANY CHANGES IN THE STAPLED SECURITIES

24

2

AUDIT STATEMENT

24

3

AUDITOR'S REPORT

24

4

ACCOUNTING POLICIES

25

5

CHANGES IN ACCOUNTING POLICIES

25

6

EARNINGS PER STAPLED SECURITY AND DISTRIBUTION PER STAPLED SECURITY

25

7

NET ASSET VALUE/NET TANGIBLE ASSET PER STAPLED SECURITY

26

8

REVIEW OF PERFORMANCE

27 - 36

9

VARIANCE BETWEEN FORECAST OR PROSPECTUS STATEMENT AND ACTUAL RESULTS

37

10

OUTLOOK AND PROSPECTS

37 - 38

11

DISTRIBUTIONS

39 - 40

12

DISTRIBUTION STATEMENT

41

13

GENERAL MANDATE RELATING TO INTERESTED PERSON TRANSACTIONS

41

14

CONFIRMATION PURSUANT TO RULE 720(1) OF THE LISTING MANUAL

41

15

SEGMENTAL INFORMATION

41

16

FACTORS LEADING TO ANY CHANGES IN CONTRIBUTIONS TO TURNOVER AND EARNINGS

41

17

BREAKDOWN OF SALES

42

18

ANNUAL DISTRIBUTION TO HOLDERS OF STAPLED SECURITIES

42

19

CONFIRMATION PURSUANT TO RULE 704(13) OF THE LISTING MANUAL

42

A stapled group comprising:

CDL HOSPITALITY REAL ESTATE INVESTMENT TRUST AND ITS SUBSIDIARIES

(a real estate investment trust constituted on 8 June 2006

under the laws of the Republic of Singapore)

and

CDL HOSPITALITY BUSINESS TRUST AND ITS SUBSIDIARIES

(a business trust constituted on 12 June 2006 under the laws of the Republic of Singapore)

CDL HOSPITALITY TRUSTS

UNAUDITED FINANCIAL STATEMENTS ANNOUNCEMENT OF CDL HOSPITALITY TRUSTS, H-REIT AND ITS SUBSIDIARIES AND HBT AND ITS SUBSIDIARIES FOR THE SIX MONTHS PERIOD AND YEAR ENDED 31 DECEMBER 2020

INTRODUCTION

CDL Hospitality Trusts ("CDLHT") is one of Asia's leading hospitality trusts with assets under management of about S$2.9 billion as at 31 December 2020. CDLHT is a stapled group comprising CDL Hospitality Real Estate Investment Trust ("H- REIT"), a real estate investment trust, and CDL Hospitality Business Trust ("HBT"), a business trust (collectively the "Group"). CDLHT was listed on the Singapore Exchange Securities Trading Limited on 19 July 2006. M&C REIT Management Limited is the manager of H-REIT, the first hotel real estate investment trust in Singapore, and M&C Business Trust Management Limited is the trustee-manager of HBT.

CDLHT was established with the principal investment strategy of investing in a portfolio of hospitality and/or hospitality- related real estate assets. As at 31 December 2020, CDLHT owns 15 hotels and two resorts comprising a total of 4,631 rooms as well as a retail mall. The properties under CDLHT's portfolio include:

  1. six hotels in the gateway city of Singapore comprising Orchard Hotel, Grand Copthorne Waterfront Hotel, M Hotel, Copthorne King's Hotel, Studio M Hotel and W Singapore - Sentosa Cove (the "W Hotel" and collectively, the "Singapore Hotels"), as well as a retail mall adjoining Orchard Hotel (Claymore Connect);
  2. two hotels in Perth, Australia comprising Mercure Perth and Ibis Perth (collectively, the "Australia Hotels");
  3. two hotels in Japan's gateway city of Tokyo comprising Hotel MyStays Asakusabashi and Hotel MyStays Kamata (collectively, the "Japan Hotels");
  4. one hotel in New Zealand's gateway city of Auckland, namely Grand Millennium Auckland (the "New Zealand Hotel");
  5. two hotels in United Kingdom (Hilton Cambridge City Centre in Cambridge and The Lowry Hotel in Manchester) (the "UK Hotels");
  6. one hotel in Germany's gateway of Munich, namely Pullman Hotel Munich (the "German Hotel");
  7. one hotel in the historic city centre of Florence, Italy, namely Hotel Cerretani Firenze - MGallery (the "Italy Hotel" or "Hotel Cerretani Firenze" ); and
  8. two resorts in Maldives, comprising Angsana Velavaru and Raffles Maldives Meradhoo (collectively, the "Maldives Resorts").

CDLHT completed its divestment of Novotel Singapore Clarke Quay ("NCQ") on 15 July 2020 and the acquisition of W Hotel on 16 July 2020.1 For the reporting period, the seven Singapore hotels are Orchard Hotel, Grand Copthorne Waterfront Hotel, M Hotel, Copthorne King's Hotel, Studio M Hotel, NCQ and W Hotel.

The above portfolio of properties also exclude Novotel Brisbane, Australia which was divested on 30 October 2020.

HBT Group owns Hilton Cambridge City Centre and The Lowry Hotel and is also the master lessee of H-REIT Group's Japan Hotels, Raffles Maldives Meradhoo and W Hotel. It will continue its function as a master lessee of last resort and may undertake certain hospitality and hospitality-related development projects, acquisitions and investments which may not be suitable or deemed suitable for H-REIT.

CDLHT's distribution policy is to distribute at least 90.0% of its taxable income and all of its tax exempt income (if any), with the actual level of distribution to be determined at the H-REIT Manager's and HBT Trustee-Manager's discretion. CDLHT makes distributions to stapled securityholders on a semi-annual basis, with the amount calculated as at 30 June and 31 December each year for the six-month period ending on each of the said dates. Distributions, when paid, will be in Singapore dollars.

  • For more details, please refer to announcements released by CDLHT on 15 July 2020 and 16 July 2020.

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CDL - City Developments Ltd. published this content on 29 January 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 January 2021 09:53:01 UTC.