Financial Summary

PROFIT (HK$ MIL) 2014 2015 2016 2017 2018
Total Rental Income $2,080 $2,063 $2,299 $2,431 $2,677
Net Property Income $1,800 $1,784 $2,027 $2,166 $2,405
DISTRIBUTION (HK$) 2014 2015 2016 2017 2018
Distributable Income (mil) $1,234 $1,212 $1,408 $1,487 $1,611
Distribution Amount (mil) $1,171 $1,146 $1,331 $1,413 $1,530
Distribution per Unit $0.2035 $0.1983 $0.2292 $0.2424 $0.2617
VALUATION (HK$) 2014 2015 2016 2017 2018
Gross Value of Portfolio (mil) $62,438 $64,783 $66,842 $76,704 $83,135
Net Asset Value per Unit $8.06 $8.40 $8.72 $10.36 $11.42
FINANCIAL RATIOS 2014 2015 2016 2017 2018
Net Expense Ratio 13.5% 13.5% 11.8% 10.9% 10.2%
Payout Ratio 94.8% 94.5% 94.5% 95.0% 95.0%
Gearing Ratio 23.1% 22.1% 21.7% 18.9% 17.6%
OPERATIONAL STATISTICS 2014 2015 2016 2017 2018
Three Garden Road Office Occupancy 75.4% 91.2% 95.9% 94.2% 99.1%
Three Garden Road Office Passing Rent (HK$ psf) $77.53 $75.39 $78.20 $92.52 $98.61
Langham Place Office Occupancy 100.0% 100.0% 100.0% 97.1% 100.0%
Langham Place Office Passing Rent (HK$ psf) $35.87 $37.50 $39.66 $40.79 $42.68
Langham Place Mall Occupancy 100.0% 100.0% 100.0% 100.0% 100.0%
Langham Place Mall Passing Base Rent (HK$ psf) $165.44 $174.54 $178.74 $176.71 $184.28
PROFIT (HK$ MIL)
2018
2017
2016
2015
2014
Total Rental Income
$2,677
Net Property Income
$2,405
DISTRIBUTION (HK$)
2018
2017
2016
2015
2014
Distributable Income (mil)
$1,611
Distribution Amount (mil)
$1,530
Distribution per Unit
$0.2617
VALUATION (HK$)
2018
2017
2016
2015
2014
Gross Value of Portfolio (mil)
$83,135
Net Asset Value per Unit
$11.42
FINANCIAL RATIOS
2018
2017
2016
2015
2014
Net Expense Ratio
10.2%
Payout Ratio
95.0%
Gearing Ratio
17.6%
OPERATIONAL STATISTICS
2018
2017
2016
2015
2014
Three Garden Road Office Occupancy
99.1%
Three Garden Road Office Passing Rent (HK$ psf)
$98.61
Langham Place Office Occupancy
100.0%
Langham Place Office Passing Rent (HK$ psf)
$42.68
Langham Place Mall Occupancy
100.0%
Langham Place Mall Passing Base Rent (HK$ psf)
$184.28