80 / 132
78
EC World Real Estate Investment Trust ANNUAL REPORT 2016
Property name
Date of
acquisition
Remaning
term of
lease*
Location
Occupancy
rates at 31
December
2016
Occupancy
rates at 31
December
2015
Latest
valuation
date
Valuation
as at 31
December
2016
Valuation
as at 31
December
2015
Percentage
of total
net assets
attributable to
Unitholders
as at 31
December
2016
Percentage
of total
net assets
attributable to
Unitholders
as at 31
December
2015
(Years)
%
%
(S$’000)
(S$’000)
%
%
Stage 1 Properties of
Bei Gang Logistics
100% 100.0% 31 Dec 2016
269,490
281,486
37.12
41.22
– Building 1 to 8
25 Aug 2015 35.2 No. 5-4 Yunhe Road, Chongxian
Neighbourhood, Yuhang District,
Hangzhou, Zhejiang Province, PRC
1,333,297
1,383,809
183.62
202.65
Other assets and liabilities (net)
(607,178)
(700,939)
(83.62)
(102.65)
Net assets of the Group
726,119
682,870
100.00
100.00
* Refers to the remaining tenure of underlying land. Remaining term of lease includes option to renew the land leases.
The carrying amounts of the China investment properties were based on independent valuations as at 31 December 2016. The valuations were undertaken by Colliers International (Hong Kong)
Limited (“Colliers”) an independent valuer. Colliers has appropriate professional qualifications and experience in the location and category of the properties being valued. The valuations of the
investment properties were based on the Discounted Cash Flow method. The net movement in valuation has been taken to the Statements of Total Return. It is the intention of the Group to hold the
investment properties for the long term.
The accompanying notes form an integral part of these financial statements.
INVESTMENT PROPERTIES PORTFOLIO STATEMENT
As at 31 December 2016