130
FRASERS HOSPITALITY TRUST ANNUAL REPORT 2015
FH-REIT was constituted on 12 June 2014 and was inactive until FHT’s listing on SGX-ST on 14 July 2014. FH-BT has
been dormant since its date of registration. FHT is a stapled group comprising units in FH-REIT stapled to units in FH-BT
pursuant to the Stapling Deed dated 20 June 2014. The Distribution Statements comprise results for FH-REIT and its
subsidiaries (collectively “FH-REIT Group”) and the Stapled Group commencing from its date of listing on 14 July 2014.
FHT FH-REIT Group
20 Jun 2014 to
30 Sep 2015
20 Jun 2014 to
30 Sep 2015
Reconciliation of total return to income available for distribution
Note
$’000
$’000
Total return for the period after tax of FH-REIT
135,469
135,469
Non-tax deductible/(non-taxable) items and other adjustments:
Amortisation of debt upfront costs
8(a)
1,917
1,917
Acquisition fee paid in Stapled Securities
19
1,164
1,164
Foreign exchange gain, net
(2,106)
(2,106)
Goodwill on acquisition of subsidiaries written off
5
4,296
4,296
Issuance costs (IPO and Private Placement) not deductible
2,215
2,215
Net change in fair value of investment properties
12
(116,671)
(116,671)
Net change in fair value of derivative financial instruments
(1,744)
(1,744)
Other management fees paid and payable in Stapled Securities
1,874
1,874
Property management fees paid and payable in Stapled Securities
7,429
7,429
REIT Manager’s management fees paid and payable in Stapled Securities
3(a)
9,560
9,560
Realised gain on derivative financial instruments
(24)
(24)
Stamp duties on acquisition of investment properties
38,384
38,384
FH-REIT Trustee’s fee
4
298
298
Other adjustments
11,666
11,666
Net effect of (non-taxable)/non-tax deductible items and other
adjustments
(41,742)
(41,742)
Income available for distribution to Stapled Securityholders
93,727
93,727
Distribution of 3.69 cents per Stapled Security for the period from 14 July
2014 to 31 March 2015
31
44,450
44,450
Distribution of 2.30 cents per Stapled Security for the period from 1 April
2015 to 5 July 2015
31
27,737
27,737
Proposed Distribution of 1.5745 cents per Stapled Security for the period
from 6 July 2015 to 30 September 2015
31
21,540
21,540
Income available for distribution to Stapled Securityholders
93,727
93,727
The accompanying accounting policies and explanatory notes form an integral part of the financial statements.
DISTRIBUTION STATEMENTS
FOR THE FINANCIAL PERIOD FROM 20 JUNE 2014 (DATE OF CONSTITUTION) TO 30 SEPTEMBER 2015
