GuocoLand : Announcement of financial results for the 2nd quarter ended 31 December 2021 by GuocoLand Limited's associate, Tower Real Estate Investment Trust

Quarterly rpt on consolidated results for the financial period ended 31 Dec 2021

TOWER REAL ESTATE INVESTMENT TRUST

Financial Year End	30 Jun 2022
Quarter	2 Qtr
Quarterly report for the financial	31 Dec 2021
period ended
The figures	have not been audited

Attachments

Tower REIT Q2 Results (31.12.2021).pdf

237.0 kB

Default Currency Other Currency

Currency: Malaysian Ringgit (MYR)

SUMMARY OF KEY FINANCIAL INFORMATION

31 Dec 2021

		INDIVIDUAL PERIOD	CUMULATIVE PERIOD
		CURRENT	PRECEDING YEAR	CURRENT	PRECEDING
		YEAR	CORRESPONDING	YEAR TO	YEAR
		QUARTER	QUARTER	DATE	CORRESPONDING
					PERIOD
		31 Dec 2021	31 Dec 2020	31 Dec 2021	31 Dec 2020
		$$'000	$$'000	$$'000	$$'000
1	Revenue	8,150	8,587	16,362	15,098
2	Profit/(loss) before	1,527	1,447	3,659	3,014
	tax
3	Profit/(loss) for the	1,527	1,447	3,659	3,014
	period
4	Profit/(loss)	1,527	1,447	3,659	3,014
	attributable to
	ordinary equity
	holders of the
	parent
5	Basic	0.54	0.52	1.30	1.07
	earnings/(loss) per
	share (Subunit)
6	Proposed/Declared	1.20	1.05	1.20	1.05
	dividend per share
	(Subunit)
		AS AT END OF CURRENT	AS AT PRECEDING FINANCIAL
		QUARTER	YEAR END
7	Net assets per		1.8628		1.8613
	share attributable
	to ordinary equity
	holders of the
	parent ($$)

Definition of Subunit:

In a currency system, there is usually a main unit (base) and subunit that is a fraction amount of the main unit. Example for the subunit as follows:

Country	Base Unit	Subunit
Malaysia	Ringgit	Sen
United States	Dollar	Cent
United Kingdom	Pound	Pence

Announcement Info

Company Name	TOWER REAL ESTATE INVESTMENT TRUST
Stock Name	TWRREIT
Date Announced	21 Jan 2022
Category	Financial Results
Reference Number	FRA-21012022-00003

TOWER REAL ESTATE INVESTMENT TRUST

CONDENSED FINANCIAL STATEMENTS

FOR THE SECOND QUARTER ENDED 31 DECEMBER 2021

Contents	Page
Condensed Statement of Comprehensive Income	1
Condensed Statement of Financial Position	2
Condensed Statement of Changes In Net Asset Value	3
Condensed Statement of Cash Flow	4
Notes to the Financial Statements	5 - 12

TOWER REAL ESTATE INVESTMENT TRUST

CONDENSED STATEMENT OF COMPREHENSIVE INCOME

FOR THE SECOND QUARTER ENDED 31 DECEMBER 2021

The figures have not been audited.	Individual Quarter		Cumulative Quarter
			Preceding Year				Preceding
	Current Year		Corresponding		Current Year		Year
	Quarter Ended		Quarter Ended		To Date		To Date
	31.12.2021	31.12.2020	31.12.2021	31.12.2020
	RM'000		RM'000		RM'000		RM'000
Income
Gross revenue	8,150	8,587	16,362	15,098
Property operating expenses	(3,453)		(3,759)		(6,474)		(6,842)
Net property income	4,697	4,828	9,888	8,256
Interest income	14	11	24	21
Other income	16		-		18		28
	4,727	4,839	9,930	8,305
Expenses
Manager's fees	(573)	(577)	(1,161)	(1,101)
Trustee's fee	(39)	(40)	(79)	(80)
Administrative expenses	(205)	(488)	(273)	(1,032)
Interest expenses	(2,383)		(2,287)		(4,758)		(3,078)
	(3,200)		(3,392)		(6,271)		(5,291)
Net Trust Income	1,527	1,447	3,659	3,014
Change in fair value of investment properties	-		-		-		-
Income before tax	1,527	1,447	3,659	3,014
Taxation	-		-		-		-
Income after tax	1,527	1,447	3,659	3,014
Other comprehensive income	-		-		-		-
Total comprehensive income for the period	1,527	1,447	3,659	3,014
Total comprehensive income for the period							-
is made up as follows:
- Realised	1,527	1,447	3,659	3,014
- Unrealised	-	-	-	-
	1,527	1,447	3,659	3,014
BASIC EARNINGS PER UNIT (SEN)
- Realised	0.54	0.52	1.30	1.07
- Unrealised	-	-	-	-
	0.54	0.52	1.30	1.07

The Condensed Statement of Comprehensive Income should be read in conjunction with the audited financial statements for the financial year ended 30 June 2021 and the accompanying explanatory notes attached.

1

TOWER REAL ESTATE INVESTMENT TRUST

CONDENSED STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2021

	Unaudited		Audited
	As At		As At
	31.12.2021	30.06.2021
	RM'000		RM'000
ASSETS
Non-current assets
Plant and equipment	12,616		11,965
Investment properties	811,800		811,800
	824,416		823,765
Current Assets
Trade receivables	544		487
Other receivables, deposits and prepayments	305		327
Cash and bank balances	2,912		2,553
	3,761		3,367
TOTAL ASSETS	828,177	827,132
LIABILITIES
Non-current liabilities
Tenants' deposits	5,636		6,248
Borrowings	259,965		259,856
Deferred tax liability	19,414		19,414
	285,015		285,518
Current liabilities
Trade payables	17		863
Other payables and provisions	5,111		5,291
Tenants' deposits	4,723		4,253
Borrowings	10,800		9,100
	20,651		19,507
TOTAL LIABILITIES	305,666		305,025
NET ASSET VALUE	522,511	522,107
REPRESENTED BY:
Unitholders' capital	285,345	285,345
Undistributed income - unrealised	174,846	174,846
Undistributed income - realised	62,320		61,916
	522,511		522,107
NUMBER OF UNITS IN CIRCULATION (UNITS)	280,500,000	280,500,000
NET ASSET VALUE PER UNIT (RM)
- Before income distribution	1.8628	1.8613
- After income distribution	1.8508		1.8497

The Condensed Statement of Financial Position should be read in conjunction with the audited financial statements for the financial year ended 30 June 2021 and the accompanying explanatory notes attached.

2