Portfolio Overview

  • 15
     
    Number of Properties
  • ~ 2,800
    leases
    Extensive Network of Tenants
  • 338.0
    million
    Annual Shopper Traffic
  • 5.4
    million
    Sq ft NLA
  • 16
    years
    Track Record

Data as at 31 December 2018 (includes Sembawang Shopping Centre which has been divested on 18 June 2018).



Portfolio Lease Expiry Profile1

(As at 31 December 2018)

Our tenants typically have three-year lease terms. The portfolio lease expiry profile remained evenly spread out as at 31 December 2018, with 28.4% and 27.3% of the leases by gross rental income due for renewal in 2019 and 2020 respectively. The portfolio weighted average lease expiry by gross rental income was 1.9 years. For new leases in 2018, the weighted average lease expiry based on the date of commencement of the leases was 2.4 years and accounted for 33.4% of the leases by gross rental income.

Year Number of Leases % of Gross Rental Income2
2019 8993 28.4
2020 844 27.3
2021 831 29.5
2022 179 11.5
2023 23 1.7
2024 and beyond 16 1.6
Total 2,792 100.0
Notes:
  1. Based on committed leases. Includes CMT's 40.00% interest in Raffles City Singapore (excluding hotel lease) and excludes Funan which was closed on 1 July 2016 for redevelopment and SSC which was divested on 18 June 2018.
  2. Based on the month in which the lease expires and excludes gross turnover rent.
  3. Of which 761 leases are retail leases.


Portfolio Lease Expiry Profile for 20191

(As at 31 December 2018)
Property Number of Leases % of Property NLA2 % of Property Rental Income3
Tampines Mall 38 22.3 23.4
Junction 8 60 34.8 37.7
IMM Building4 188 36.4 35.4
Plaza Singapura 74 27.6 26.9
Bugis Junction 96 53.1 43.9
Raffles City Singapore4 119 32.9 34.6
Lot One Shoppers' Mall 41 13.4 19.9
The Atrium@Orchard4 27 9.3 14.7
Clarke Quay 23 27.7 25.5
Bugis+ 17 12.2 16.1
Bedok Mall 37 15.1 15.8
Westgate 51 32.9 24.4
Other assets5 128 31.6 36.4
CMT Portfolio 8996 29.4 28.4
Notes:
  1. Based on committed leases. Includes CMT's 40.00% interest in Raffles City Singapore (excluding hotel lease) and excludes Funan which was closed on 1 July 2016 for redevelopment and SSC which was divested on 18 June 2018.
  2. As a percentage of NLA for each respective property as at 31 December 2018.
  3. As a percentage of gross rental income for each respective property and excludes gross turnover rent.
  4. Includes non-retail leases for IMM Building, Raffles City Singapore and The Atrium@Orchard.
  5. Includes JCube and Bukit Panjang Plaza.
  6. Of which 761 leases are retail leases.

10 Largest Tenants of CMT1

(As at 31 December 2018)

CMT's gross rental income is well distributed within its portfolio of close to 2,800 leases. As at 31 December 2018, no single tenant contributed more than 3.5% of the total gross rental income. Collectively, the 10 largest tenants accounted for about 19.8% of the total gross rental income.

Tenant Trade Sector % of Gross Rental Income2
RC Hotels (Pte.) Ltd. Hotel 3.3
Temasek Holdings (Private) Limited Office 2.9
Cold Storage Singapore (1983) Pte Ltd Supermarket / Beauty & Health / Services / Warehouse 2.4
NTUC Enterprise Supermarket / Beauty & Health / Services/ Food & Beverage 2.2
Robinson & Company (Singapore) Private Limited Department Store / Beauty & Health 2.0
BHG (Singapore) Pte. Ltd. Department Store 1.7
Wing Tai Retail Management Pte. Ltd. Fashion / Sporting Goods / Shoes & Bags 1.5
Auric Pacific Group Limited Food & Beverage 1.3
BreadTalk Group Limited Food & Beverage 1.3
Isetan (Singapore) Limited Department Store / Supermarket 1.2
Total   19.8
Notes:
  1. Includes CMT's 40.00% interest in Raffles City Singapore and excludes Funan which was closed on 1 July 2016 for redevelopment and SSC which was divested on 18 June 2018.
  2. Based on gross rental income for the month of December 2018 and excludes gross turnover rent.

Trade Sector Analysis

CMT's portfolio is well diversified and leverages on many different trade sectors for rental income. As at 31 December 2018, Food & Beverage (F&B) remained the largest contributor to gross rental income at 31.3% of the total portfolio. Fashion remained the second largest contributor to gross rental income at 12.3%.

Downtown and suburban malls contribute almost equally to CMT's gross revenue and asset valuation. Our portfolio has approximately 80% exposure to the necessity shopping segment which has shown resilience over the years.

Breakdown of CMT Portfolio1 by Trade Sector
(% of Gross Rental Income2)


(As at 31 December 2018)

Notes:
  1. Includes CMT's 40.00% interest in Raffles City Singapore (excluding hotel lease) and excludes Funan which was closed on 1 July 2016 for redevelopment and SSC which was divested on 18 June 2018.
  2. Excludes gross turnover rent.
  3. Includes tenants approved as thematic dining, entertainment and a performance centre in Bugis+.
  4. Others include Art Gallery and Luxury.