As at 2020 Second Quarter Financial Results (7 Aug 2020)
BHG Retail REIT is the first pure-play China retail REIT sponsored by an established PRC homegrown retail property operator (Beijing Hualian Department Store Co), listed on 11 Dec 2015. It has ownership/interest in 6 properties worth S$0.93 billion (RMB 4.7 billion) as at 30 Jun 2020.
| Gross rental income
(by sector) |
Percentage |
| Fashion |
39.4% |
| F&B |
22.3% |
| Supermarket |
18.6% |
| Services |
8.2% |
| Recreation |
5.8% |
| Lifestyle |
5.4% |
| Specialty Stores |
0.3% |
| Gross rental income
(by geographical location) |
Percentage |
| China |
100% |
| Metrics |
2Q 2020 |
1Q 2020 |
| Gearing Ratio
(Aggregate Leverage) |
35.9% |
35.3% |
| Weighted Average Debt to Maturity
(Average Term to Maturity) |
2.2 years |
2.2 years |
| Average Cost of Debt (p.a.) |
3.9% |
4.2% |
| Occupancy Rate |
92.9% |
94.7% |
| Weighted Average Lease Expiry
(by GRI) |
3.7 years |
3.7 years |
| Top 10 tenants
(gross rental income) |
24.4% |
(as at
31 Dec 19) |
| Top tenant
(gross rental income) |
15.8% |
(as at
31 Dec 19) |
|
1H 2020 |
1H 2019 |
| Metrics |
S$ mil |
S$ mil |
| Gross Revenue |
27.8 |
38.1 |
| Property operating
expenses |
(11.3) |
(12.9) |
| Net Property Income |
16.5 |
25.2 |
| Distributable Income |
4.3 |
9.0 |
| DPU |
0.89c |
2.08c |
Changed to semi-annual reporting. No Q2 2020 comparison with Q2 2019.
PORTFOLIO
CHINA
| Property |
NPI (%) |
Occupancy
2Q 2020 |
Occupancy
1Q 2020 |
| Beijing
Wanliu
(60%) |
58.8 |
93.7 |
95.0 |
| Chengdu
Konggang |
14.1 |
88.8 |
91.2 |
| Hefei
Mengchenglu |
10.3 |
89.9 |
92.0 |
| Hefei
Changjiangxilu |
6.8 |
90.0 |
94.3 |
| Xining
Huayuan |
5.9 |
100.0 |
100.0 |
| Dalian
Jinsanjiao |
4.1 |
100.0 |
100.0 |
...
