parkwaylife real estate (PREIT) Snapshot

Parkway Life Real Estate Investment Trust Presents at ASEAN Investor Conference 2013 - Singapore, Jun-07-2013 . Venue: Ritz Carlton Hotel, Singapore, Singapore. Speakers: Hock Leong Loo, Chief Financial Officer, Yean Chau Yong, Chief Executive Officer and Executive Director.

Parkway Life Real Estate Investment Trust reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported total return after tax for the period before distribution of SGD 17,788,000 and total return for the period before tax and distribution was SGD 19,015,000 compared to total return for the period after tax before distribution of SGD 17,115,000 and total return for the period before tax and distribution of SGD 18,392,000 for the same period a year ago. Net property income was SGD 21,504,000 compared to SGD 21,115,000 for the same period a year ago. Gross revenue was SGD 23,029,000 compared to SGD 22,776,000 for the same period a year ago. Amount available for distribution to unitholders was SGD 16,715,000 compared to SGD 16,260,000 for the same period a year ago. Distributable income to unitholders was SGD 15,965,000 compared to SGD 15,510,000 for the same period a year ago. Cash flows generated from operating activities was SGD 18,439,000 compared to SGD 20,400,000 for the same period a year ago. Net asset value per unit March 31, 2013 was SGD 1.58 against SGD 1.57 as December 31, 2012. Adjusted net asset value per unit March 31, 2013 was SGD 1.55 against SGD 1.55 as December 31, 2012. Annualised distribution per unit was 10.56 cents against 10.24 cents a year ago, mainly led by acquisitions and rental growth of existing properties offset by an one-off IRAS tax adjustment in first quarter of 2012. Excluding the one-off adjustment, the DPU growth is 7.0%. Higher revenue was also driven by higher rent from the Singapore properties mainly due to increased growth rate of CPI + 1% (that is 6.31%) in Year 6 of lease commencing August 23, 2012.

Parkway Life Real Estate Investment Trust announced a distribution of 2.64 cents per unit in PLife REIT for the period 01 January 2013 to 31 March 2013, comprising a capital component of 0.25 cents per unit, a tax-exempt income component of 0.32 cents per unit and a taxable income component of 2.07 cents per unit. The transfer books and register of unitholders of the company will be closed at 5.00 p.m. on 17 May 2013 for the purpose of determining unitholders' entitlements to PLife REIT's distribution. The company will pay distribution on 11 June 2013.