Page 13 - ar2011

24 March
• Six Battery Road unveiled “Rainforest Rhapsody” – the
largest indoor vertical garden installed in Singapore CBD.
Announced completion of Phase 1 of a S$92.0million asset
enhancement initiative at Six Battery Road, expected to
complete entirely by end-2013.
25 March
• Resignation of Mr Ee Chee Hong as Non-Executive
Director and member of the Executive Committee
(EXCO).
• Appointment of Mr Chong Lit Cheong as Non-Executive
Director and member of the EXCO.
18 April
• Convertible bondholders exercised put option of
S$6.25 million, reducing the aggregate principal of
Convertible Bond due 2013, to S$173.8 million.
19 April
• Announced intention to partner with CapitaLand to
redevelop Market Street Car Park into an ultra-modern
Grade A ofce tower – a S$1.4 billion project to be
completed before end-2014.
• Achieved a distributable income of S$52.1 million in
1Q 2011, a 4.1% decline over 1Q 2010 due to lower rental
income after the sales of two non-Grade A properties
and negative rent reversions, mitigated by higher income
contribution from other CCT properties.
16 June
• Permission granted for the demolition of Market Street
Car Park to make way for a new Grade A ofce tower.
21 June
• Silver Oak Ltd. purchased and redeemedUS$427.0million
Class A1 secured floating rate notes, €30.0 million
Class A2 secured floating rate notes and US$86.5million
Class B secured floating rate notes.
• Silver Oak Ltd. issued secured floating rate notes (Series
002 Notes) amounting to US$645.0 million, one of the
largest AAA-rated securitised note issue in Singapore,
and was 1.7 times subscribed.
• Completed the refinancing of RCS Trust’s total
borrowings of S$964.0 million (CCT’s 60.0% interest is
S$578.4 million) due September 2011.
5 July
• Teamed with Borouge to stage Water for the World™ -
Troubled Waters, a photographic exhibition highlighting
the global water crisis, at four CCT properties held in
conjunction with Singapore Water Week.
14 July
• Achieved a distributable income of S$106.5 million in
1H 2011. 1H 2011 DPU was 3.77 cents.
• Signed a tripartite joint venture agreement for the
development of Market Street ofce tower – CapitaLand
(50.0%), CCT (40.0%) andMitsubishi Estate Asia (10.0%).
15 September
• Unveiled Toyo Ito’s design for the 40-storey Market
Street ofce tower.
13 October
• Achieved a distributable income of S$51.9 million in
3Q 2011.
17 November
• Participated in a corporate profile seminar organised
by the Securities Investors Association (Singapore) for
retail investors.
2 December
• Issued S$200.0 million 3.25% notes due 2015 from the
S$2.0 billion multicurrency Medium Term Note (MTN)
Programme.
13 December
• Obtained total unsecured committed funding of
S$650.0 million (including S$200.0 million MTN) for
refinancing of S$570.0 million secured term loan due
March 2012.
20 December
• Repurchased S$27.0 million of Convertible Bonds
due 2013. Outstanding aggregate principal amount
of Conver tible Bonds due 2013 is reduced to
S$146.8 million.
Year
in Brief
CapitaCommercial Trust Annual Report 2011 11