Dynamic financial and prudent risk management
continued to be a key thrust in 2015 to ensure that PLife
REIT remains well cushioned against the financial market
Palmary Inn Suma
divestment gain (after tax) of S$9,110,000 which was
equally distributed to its Unitholders throughout the four
quarters in FY2015.
The freed up capital from the divestment was progressively
redeployed to acquire seven higher yielding Japan nursing
homes as PLife REIT fortifies its growth in Japan. Following
its acquisition of Habitation Jyosui and Ocean View Shonan
Arasaki in December 2014 and January 2015 respectively,
PLife REIT further acquired another five quality Japan
nursing homes in March 2015. Despite the increasingly
competitive landscape in the Japan healthcare market,
PLife REIT was able to secure beachheads and continued
on its dominant market position.
The additional contributions from the new Japan
properties coupled with the stable income stream from
our existing portfolio continue to offer steady growth for
our Unitholders. Excluding the one-time divestment gain,
PLife REIT’s FY2015 DPU from recurring operations grew
by 2.2%.
Strong DPU (CENTS) Growth Since IPO
DPU has grown steadily at a rate of 86.6%
1
since IPO
2
.
1 Calculation excludes one-off divestment gain distributed in FY2015
2 Accumulated DPU payout since IPO, including 4Q 2015 is 81.1 cents (inclusive of 3Q 2007 pro-rated payout)
3 Since FY2012, S$3 million per annum of amount available for distribution has been retained for capital expenditure
14.0
12.0
10.0
8.0
6.0
DPU
(cents)
FY2014
11.52
FY2015
FY2013
10.75
FY2011
9.60
FY2012
10.31
3
FY2010
8.79
FY2009
7.74
FY2008
6.83
FY2007
(annualised)
6.32
13.29
+86.6%
1
ParkwayLife REIT
Annual Report 2015
5
