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EC World Real Estate Investment Trust ANNUAL REPORT 2016
Group
Year ended
31 December
2016*
Period from
5 August 2015
to 31 December
2015
Note
S$’000
S$’000
Gross revenue
3
95,534
25,218
Property expenses
4
(11,631)
(4,321)
Net property income
83,903
20,897
Finance income
527
319
Finance costs
5
(20,146)
(3,806)
Manager's base fees
(1,911)
–
Trustee’s fees
(121)
(20)
Exchange differences
15,298
3,173
Other trust expenses
6
(3,003)
(181)
Net income
74,547
20,382
Net change in fair value of investment properties
14
(1,732)
949,332
Net change in fair value of financial derivatives
12
30
–
Total return for the year/period before income tax
72,845
969,714
Income tax expenses
7
(17,025)
(272,900)
Total return for the year/period after income
tax before distribution
55,820
696,814
Earnings per unit (cents)
8
– Basic
3.77
N/M
– Diluted
3.77
N/M
* The year ended 31 December 2016 constitutes both the results when ECW was a private trust from 1 January 2016 to 27 July 2016 and after it was
listed on SGX-ST from 28 July 2016 to 31 December 2016.
N/M: Not Meaningful
Consolidated STATEMENT
OF TOTAL RETURN
For the Financial Year ended 31 December 2016
The accompanying notes form an integral part of these financial statements.