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CDLHT: Announcement on the Unaudited Financial Statements of CDL Hospitality Trusts, H-REIT and its Subsidiaries and HBT and its Subsidiaries for the Second Quarter and Six Months ended 30 June 2017

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by July 28, 2017 General

General Announcement::Announcements by CDL Hospitality Trusts, an associate of …

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General Announcement::Announcements by CDL Hospitality Trusts, an associate of Millennium & Copthorne Hotels plc

Issuer & Securities


Issuer/ Manager

CITY DEVELOPMENTS LIMITED


Securities CITY DEVELOPMENTS LIMITED – SG1R89002252 – C09

Stapled Security No

Announcement Details


Announcement Title

General Announcement


Date & Time of Broadcast 28-Jul-2017 07:58:37

Status New

Announcement Sub Title Announcements by CDL Hospitality Trusts, an associate of Millennium & Copthorne Hotels plc


Announcement Reference SG170728OTHRJR35

Submitted By (Co./ Ind. Name) Enid Ling Peek Fong

Designation Company Secretary

CDL Hospitality Trusts, an associate of Millennium & Copthorne Hotels plc, has released the following announcements to Singapore Exchange Securities Limited on 28 July 2017:-

  1. Unaudited Second Quarter and Six Months ended 30 June 2017 Financial Statements Announcement and Press Release on “CDL Hospitality Trusts Reports Total Distribution of S$24.9 Million for 2Q 2017”

  2. Presentation Slides for the Unaudited Results for the Second Quarter and Six Months ended 30 June 2017


    Description (Please provide a detailed description of the event in the box below)

  3. Payment of Management Fee by way of Issue of Stapled Securities in CDL Hospitality Trusts

  4. Notice of Books Closure Taxable Income

  5. Notice of Books Closure Tax Exempt Income

  6. Notice of Books Closure Capital Component

  7. Disclosure of Change of Interest for Trustee-Manager or Responsible Person in respect of changes in its interest in securities (Form 6) in relation to M&C REIT Management Limited

For details, please refer to the announcements posted by CDL Hospitality Trusts on the SGX website, www.sgx.com

http://infopub.sgx.com/Apps?A=COW_CorpAnnouncement_Content&B=Announcem…

28/7/2017

Financial Statements and Related Announcement::Half Yearly Results

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Financial Statements and Related Announcement::Half Yearly Results Issuer & Securities


Issuer/ Manager

M&C REIT MANAGEMENT LIMITED


Securities CDL HOSPITALITY TRUSTS – SG1T66931158 – J85

Stapled Security Yes

Other Issuer(s) for Stapled Security


Name

DBS TRUSTEE LIMITED

Announcement Details


Announcement Title

Financial Statements and Related Announcement


Date & Time of Broadcast 28-Jul-2017 07:24:46

Status New

Announcement Sub Title Half Yearly Results

Announcement Reference SG170728OTHRPNCA

Submitted By (Co./ Ind. Name) Soo Lai Sun

Designation Company Secretary

Description (Please provide a detailed description of the event in the box below – Refer to the Online help for the format)

Please refer to the attached documents:

  1. Unaudited Financial Statements Announcement of CDL Hospitality Trusts, H-REIT and its Subsidiaries and HBT and its Subsidiaries for the Second Quarter and Six Months ended 30 June 2017; and

  2. Press Release on “CDL Hospitality Trusts Reports Total Distribution of S$24.9 Million for 2Q 2017”.

Additional Details


For Financial Period Ended

30/06/2017


Attachments

SGX_Announcement_2Q2017_FINAL.pdf

CDLHT_2Q2017_Press Release_Final.pdf Total size =839K

http://infopub.sgx.com/Apps?A=COW_CorpAnnouncement_Content&B=Announcem…

28/7/2017


CDL HOSPITALITY TRUSTS

UNAUDITED FINANCIAL STATEMENTS ANNOUNCEMENT OF CDL HOSPITALITY TRUSTS, H-REIT AND ITS SUBSIDIARIES AND HBT AND ITS SUBSIDIARIES FOR THE SECOND QUARTER AND SIX MONTHS ENDED 30 JUNE 2017

TABLE OF CONTENTS

INTRODUCTION

Page

1 – 2

SUMMARY OF CDL HOSPITALITY TRUSTS’ RESULTS

3

1(a)

STATEMENTS OF TOTAL RETURN AND STATEMENTS OF COMPREHENSIVE INCOME

4 – 10

1(b)(i)

STATEMENTS OF FINANCIAL POSITION

11 – 12

1(b)(ii)

AGGREGATE AMOUNT OF GROUP’S BORROWINGS AND DEBT SECURITIES

13 – 15

1(c)

STATEMENTS OF CASH FLOWS

16 – 18

1(d)

STATEMENT OF MOVEMENTS IN STAPLED SECURITYHOLDERS’ FUNDS

19 – 23

1(e)

DETAILS OF ANY CHANGES IN THE STAPLED SECURITIES

24

2

AUDIT STATEMENT

25

3

AUDITORS’ REPORT

25

4

ACCOUNTING POLICIES

25

5

CHANGES IN ACCOUNTING POLICIES

25

6

EARNINGS PER STAPLED SECURITY AND DISTRIBUTION PER STAPLED SECURITY

26

7

NET ASSET VALUE/NET TANGIBLE ASSET PER STAPLED SECURITY

27

8

REVIEW OF PERFORMANCE

28 – 34

9

VARIANCE BETWEEN FORECAST OR PROSPECTUS STATEMENT AND ACTUAL

34

10

OUTLOOK AND PROSPECTS

35

11

DISTRIBUTIONS

36 – 37

12

DISTRIBUTION STATEMENT

38

13

GENERAL MANDATE RELATING TO INTERESTED PERSON TRANSACTIONS

38

14

CONFIRMATION PURSUANT TO RULE 705(5) OF THE LISTING MANUAL

38

15

CONFIRMATION PURSUANT TO RULE 720(1) OF THE LISTING MANUAL

38

A stapled group comprising:

CDL HOSPITALITY REAL ESTATE INVESTMENT TRUST AND ITS SUBSIDIARIES

(a real estate investment trust constituted on 8 June 2006 under the laws of the Republic of Singapore)

and

CDL HOSPITALITY BUSINESS TRUST AND ITS SUBSIDIARIES

(a business trust constituted on 12 June 2006 under the laws of the Republic of Singapore)


CDL HOSPITALITY TRUSTS

UNAUDITED FINANCIAL STATEMENTS ANNOUNCEMENT OF CDL HOSPITALITY TRUSTS, H-REIT AND ITS SUBSIDIARIES AND HBT AND ITS SUBSIDIARIES FOR THE SECOND QUARTER AND SIX MONTHS ENDED 30 JUNE 2017

INTRODUCTION

CDL Hospitality Trusts (“CDLHT”) is one of Asia’s leading hospitality trusts with assets valued at S$2.7 billion. CDLHT is a stapled group comprising CDL Hospitality Real Estate Investment Trust (“H-REIT”), a real estate investment trust, and CDL Hospitality Business Trust (“HBT”), a business trust. CDLHT was listed on the Singapore Exchange Securities Trading Limited on 19 July 2006. M&C REIT Management Limited is the manager of H-REIT, the first hotel real estate investment trust in Singapore, and M&C Business Trust Management Limited is the trustee-manager of HBT.

CDLHT was established with the principal investment strategy of investing in a portfolio of hospitality and/or hospitality- related real estate assets. As at 14 July 2017, CDLHT owns 17 hotels and two resorts comprising a total of 5,414 rooms as well as a retail mall. The properties under CDLHT’s portfolio include:

  1. six hotels in the gateway city of Singapore comprising Orchard Hotel, Grand Copthorne Waterfront Hotel, M Hotel, Copthorne King’s Hotel, Novotel Singapore Clarke Quay and Studio M Hotel (collectively, the “Singapore Hotels”), as well as a retail mall adjoining Orchard Hotel (Claymore Connect);

  2. five hotels in Brisbane and Perth, Australia comprising Novotel Brisbane, Mercure Brisbane, Ibis Brisbane, Mercure Perth and Ibis Perth (collectively, the “Australia Hotels”);

  3. two hotels in Japan’s gateway city of Tokyo comprising Hotel MyStays Asakusabashi and Hotel MyStays Kamata (collectively, the “Japan Hotels”);

  4. one hotel in New Zealand’s gateway city of Auckland (Grand Millennium Auckland, previously known as Rendezvous Hotel Auckland) (the “New Zealand Hotel”);

  5. two hotels in United Kingdom (Hilton Cambridge City Centre in Cambridge and The Lowry Hotel in Manchester) (the “UK Hotels”);

  6. one hotel in Germany’s gateway of Munich, namely Pullman Hotel Munich (the “Germany Hotel”); and

  7. two resorts in Maldives, comprising Angsana Velavaru and Jumeirah Dhevanafushi (collectively, the “Maldives Resorts”).

In December 2013, the HBT Trustee-Manager activated HBT. As at 30 June 2017, it owns Hilton Cambridge City Centre and is the master lessee of the Japan Hotels and Jumeirah Dhevanafushi, both of which are owned by the H-REIT group. It will continue its functions as a master lessee of last resort and may undertake certain hospitality and hospitality-related development projects, acquisitions and investments which may not be suitable or deemed suitable for H-REIT.

On 4 May 2017, HBT through its indirectly wholly-owned subsidiary, CDL HBT North Ltd, completed the acquisition of The Lowry Hotel through the acquisition of 100% of the issued share capital of The Lowry Hotel Limited.

On 27 June 2017, H-REIT through its wholly-owned subsidiary, CDLHT Munich One Pte. Ltd., entered into a share purchase agreement for the acquisition of an effective interest of 94.5% in Pullman Hotel Munich and its office, retail components and the fixture, furniture and equipment used by the Germany Hotel. The acquisition was completed on 14 July 2017.

1

CDL – City Developments Ltd. published this content on 28 July 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 28 July 2017 01:12:08 UTC.

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