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(Extracted from Annual Report 2022)

Strong, Stable Growth Over The Years

PLife REIT has consistently performed up to expectations and has successfully delivered yet another year of stable growth. Its robust fundamentals, focused growth strategy and prudent financial management strategies will support sustainable returns for Unitholders.

As at 31 December 2022, PLife REIT owns a resilient portfolio of 61 high-quality healthcare and aged care properties valued at approximately S$2.20 billion1.

Note:
  1. Based on latest appraised values (excludes adjustment for the right-of-use assets)
  2. Total portfolio value as at 31 December of each year
  3. As part of our asset recycling initiatives, we have divested seven Japan nursing homes in FY14, four Japan nursing homes in FY16 and a non-core Japan industrial property in FY21

Financial Performance At A Glance

Sound Financial Metrics

PLife REIT maintains a robust balance sheet which provides greater financial flexibility to explore compelling investment opportunities in line with its mission to deliver regular and stable returns for its Unitholders.

Key Metrics

(As at 31 December 2022)

Note:
  1. As at 31 December 2022, debts due in 2023 comprise short term loan drawdown of $36.3m for the purposes of general working capital, as well as fixed rate notes of JPY2.0b ($20.3m) which will be fully repaid on maturity date (i.e. 6 June 2023) via the proceeds of recent issued 6-year JPY5.0b fixed rate notes due in 2028
  2. Total Debts (exclude lease liabilities, if any) before transaction costs – Total As
  3. With effect from 1 January 2022, the gearing limit for S-REITs shall be 45% and 50% for adjusted-ICR of below 2.5x or at least 2.5x respectively