Information on Sunway REIT

The salient features of Sunway REIT are set out below:

Name of fund

:

Sunway REIT

Type of fund

:

Income and growth

Category of fund

:

Real estate investment trust

Duration of fund/ Termination date

:

The earlier of:

999 years falling on 19 May 3009
The date on which Sunway REIT is terminated by the Trustee of the Manager, in such circumstances as set out under the provisions of the Deed
   

Approved fund size

:

3,650,888,858 units

Investment objective

:

To provide Unitholders with an exposure to a diverse portfolio of authorised investments that will provide stable cash distributions with the potential for sustainable growth in net asset value per unit

Investment policies

:

To invest in retail, hospitality, office and other real estate assets, subject to the Securities Commission’s Guidelines on Real Estate Investment Trust
At least 95% of Sunway REIT’s total asset value must be invested in real estate and/or single purpose companies at all times with the remainder 5% invested in cash, deposits and money market instruments.
   

Key acquisition criteria

:

Retail and mixed-use assets
High growth cities and townships in Malaysia
Large ticket size
Compatibility and synergistic to asset portfolio
   

Distribution policy

:

100% distributable income since FP2011 to FY2014 and at least 90% for each subsequent financial year
Quarterly distribution
   

Revaluation policy

:

Annually by an independent registered valuer

Gearing policy

:

Up to 50% of total asset value of the fund

Performance benchmark

:

FTSE Bursa Malaysia Kuala Lumpur Composite Index (KLCI)
Thomson Reuters/Global Property Research/APREA Composite REIT Index Malaysia
   

Manager’s fees

:
Base fee : 0.3% per annum  of total asset value
Performance fee : 3% per annum of net property income, but before  deduction of fees payable to the Property Manager pursuant to the Property Management Agreement
Acquisition fee : 1% of acquisition price
Divestment fee  : 0.5% of sale price
       

Trustee’s fee

: 0.03% per annum of the net asset value of Sunway REIT

Financial year end

: 30 June

Board Lot

:

100 units per board lot

Listing  : Main Market of Bursa Malaysia Securities Berhad
Stock Name : SUNREIT
Stock code : 5176
Date of listing : 8 July 2010
Initial Public offering price :
RM0.88 – retail
RM0.90 - institutional
   
     

 

 
 

 

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