Property name Date of acquisition Remaining term of lease* Location Occupancy rates at 31 December 2024 Occupancy rates at 31 December 2023 Latest valuation date Valuation as at 31 December 2024 Valuation as at 31 December 2023 Percentage of total net assets attributable to unitholders as at 31 December 2024 Percentage of total net assets attributable to unitholders as at 31 December 2023 (Year) (%) (%) (S$’000) (S$’000) (%) (%) Chongxian Port Investment 25 August 2015 31.0 No. 5 Yunhe Road Yuhang District, Hangzhou Zhejiang Province, PRC 92.2 100 31 December 2024 177,266 205,866 552.87 217.02 Fu Heng Warehouse – Building 1 and 2 9 September 2015 34.4 11 Mingxing Road Dongzhou Industrial Zone, Dongzhou Sub-district, Fuyang District, Hangzhou, Zhejiang Province, PRC 74.5 100 31 December 2024 53,124 54,811 165.69 57.78 Hengde Logistics – Phase 1 6 November 2015 34.5 No 21 Sanhao Road Dongzhou Industrial Zone, Dongzhou Sub-district, Fuyang District, Hangzhou, Zhejiang Province, PRC 91.1 31.4 31 December 2024 137,377 157,187 428.46 165.7 – Phase 2 6 November 2015 28.6 No 2-2 Dongqiao Road Dongzhou Industrial Zone, Dongzhou Sub-district, Fuyang District, Hangzhou, Zhejiang Province, PRC Wuhan Meiluote 16 April 2018 40.5 Yinyan Village, Nanwan Village, Daji Street, Caidian District, Wuhan. PRC 77.4 44.00 31 December 2024 19,572 26,012 61.04 27.42 Fuzhou E – Commerce 8 August 2019 34.4 No. 9 Mingxing Road, Fuyang District, Hangzhou, Zhejiang Province, PRC 72.3 100 31 December 2024 128,430 131,732 400.56 138.87 Chongxian Port Logistics 25 August 2015 31.0 No. 5-2, Yunhe Road, Yuhang District, Hangzhou, Zhejiang Province, PRC 95.9 99.3 31 December 2024 87,235 102,562 272.07 108.12 Stage 1 Properties of Bei Gang Logistics – Building 1 to 8 25 August 2015 27.2 No. 5-4, Yunhe Road, Yuhang District, Hangzhou, Zhejiang Province, PRC 100 100 31 December 2024 110,722 127,459 345.33 134.36 Total investment properties 713,726 805,629 2,226.02 849.27 Other assets and liabilities (net) (681,683) (710,768) (2,126.02) (749.27) Net assets of the Group 32,063 94,861 100 100 * Refers to the remaining tenure of underlying land. The portfolio of ECW comprises seven properties (collectively the “Properties”). The carrying amounts of the investment properties were based on independent valuations as at 31 December 2024 as undertaken by Savills Real Estate Valuation (Guangzhou) Ltd – Shanghai Branch (“Savills”), an independent valuer. Savills 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. Changes in valuations are recognised to the Statement of Total Return. The accompanying notes form an integral part of these financial statements. ANNUAL REPORT 2024 79 INVESTMENT PROPERTIES PORTFOLIO STATEMENT AS AT 31 DECEMBER 2024
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