CapitaLand Ascendas REIT (ACDSF) Q2 2023 Earnings Call Transcript

CapitaLand Ascendas REIT (OTCPK:ACDSF) Q2 2023 Earnings Conference Call July 31, 2023 5:30 AM ET

Company Participants

Terence Lim – Investor Relations

Yeow Kit Peng – Head, Capital Markets & Investor Relations

William Tay – Chief Executive Officer

James Goh – Head, Portfolio Management

Koo Lee Sze – Chief Financial Officer

Conference Call Participants

Mervin Song – JPMorgan

Joy Wang – HSBC

Terence Lim

Good evening, ladies and gentlemen. My name is Terence from Investor Relations. Welcome to 622 Lorong 1 Toa Payoh, a property that we just recently acquired earlier this year.

Thank you for attending CapitaLand Ascendas REIT Financial Results briefing for the period ending 30 June, 2023. We have management representatives from the CLAR management today. They are Mr. William Tay, CEO; Ms. Koo Lee Sze, CFO; Ms. Yeow Kit Peng, Head of Capital Markets and Investor Relations; and Mr. James Goh, Head of Portfolio Management. Today’s briefing will consist of the presentation, followed by a Q&A session. Please note that today’s session will be recorded and will be available via webcast.

Before we start, let me brief you those present on the fire evacuation plan. These are the fire evacuation routes for you to take to the assembly area. The next slide shows you the assembly area besides this building.

We will now proceed with the presentation of our financial results for the first half period ended 30 June, 2023. You’ll be presented by Ms. Yeow Kit Peng, Head of Capital Markets and Investor Relations. Kit Peng, please.

Yeow Kit Peng

Good evening, everybody, and welcome to CapitaLand Ascendas REIT first half 2023 results briefing. Key highlights, financial performance, the distribution income for the first half of 2023 is 1% lower at $327.5 million, distribution per unit is $0.007719, 2% lower year-on-year. Investment properties, $17 billion, 2.5% higher than 30 June, 2022. On the asset management side, portfolio occupancy was stable at 94.4%, and a

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