Description on NAV Fluctuation
FY2012
& FY2013 – Acquisition Position ‘On!'
- Bulk acquisition of Malaysia’s & Japan’s hospitality properties to transform into pure play hospitality REIT through cash, disposal of preference shares in Star Hill Global REIT and new units issuance on November 15, 2011. (Net effect on Asset & Equities)
- Acquisition of Australian 3 properties via debt (RM1581 mil) by pledging the trust’s properties portfolio as collateral to AmBank. (Net effect on Asset & Liabilities)
FY2013 – Higher Financing
Cost after securing debt with value of RM1581 mil & Weakening Australian Dollar leading to
lower revenue. (Equity reduce)
FY2014 – Bank Negara
Malaysia raise overnight policy rate (opr) from 3% to 3.25%, leading the
trust’s finance cost to rise. (Equity reduce)
FY2014 – Revaluation of
portfolio’s properties, causing rise in asset value. (Asset increase, Equity
increase)
Accounting Equation
Asset = Liability + Equity
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