Financial Summary

PROFIT (HK$ MIL) 2015 2016 2017 2018 2019
Total Rental Income $2,063 $2,299 $2,431 $2,677 $2,778
Net Property Income $1,784 $2,027 $2,166 $2,405 $2,481
DISTRIBUTION (HK$) 2015 2016 2017 2018 2019
Distributable Income (mil) $1,212 $1,408 $1,487 $1,611 $1,648
Distribution Amount (mil) $1,146 $1,331 $1,413 $1,530 $1,566
Distribution per Unit $0.1983 $0.2292 $0.2424 $0.2614 $0.2666
VALUATION (HK$) 2015 2016 2017 2018 2019
Gross Value of Portfolio (mil) $64,783 $66,842 $76,704 $83,135 $81,178
Net Asset Value per Unit $8.40 $8.72 $10.36 $11.42 $11.04
FINANCIAL RATIOS 2015 2016 2017 2018 2019
Net Expense Ratio 13.5% 11.8% 10.9% 10.2% 10.7%
Payout Ratio 94.5% 94.5% 95.0% 95.0% 95.0%
Gearing Ratio 22.1% 21.7% 18.9% 17.6% 18.0%
OPERATIONAL STATISTICS 2015 2016 2017 2018 2019
Three Garden Road Office Occupancy 91.2% 95.9% 94.2% 99.1% 93.0%
Three Garden Road Office Passing Rent (HK$ psf) $75.4 $78.2 $92.5 $98.6 $107.8
Langham Place Office Occupancy 100.0% 100.0% 97.1% 100.0% 97.7%
Langham Place Office Passing Rent (HK$ psf) $37.5 $39.7 $40.8 $42.7 $46.5
Langham Place Mall Occupancy 100.0% 100.0% 100.0% 100.0% 100.0%
Langham Place Mall Passing Base Rent (HK$ psf) $174.5 $178.7 $176.7 $184.3 $190.5
PROFIT (HK$ MIL)
2019
2018
2017
2016
2015
Total Rental Income
$2,778
Net Property Income
$2,481
DISTRIBUTION (HK$)
2019
2018
2017
2016
2015
Distributable Income (mil)
$1,648
Distribution Amount (mil)
$1,566
Distribution per Unit
$0.2666
VALUATION (HK$)
2019
2018
2017
2016
2015
Gross Value of Portfolio (mil)
$81,178
Net Asset Value per Unit
$11.04
FINANCIAL RATIOS
2019
2018
2017
2016
2015
Net Expense Ratio
10.7%
Payout Ratio
95.0%
Gearing Ratio
18.0%
OPERATIONAL STATISTICS
2019
2018
2017
2016
2015
Three Garden Road Office Occupancy
93.0%
Three Garden Road Office Passing Rent (HK$ psf)
$107.8
Langham Place Office Occupancy
97.7%
Langham Place Office Passing Rent (HK$ psf)
$46.5
Langham Place Mall Occupancy
100.0%
Langham Place Mall Passing Base Rent (HK$ psf)
$190.5