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Croesus Retail Trust

Business/Industry: Real Estate Investment Trust

Corporate Profile:
Croesus Retail Trust is the first Asia-Pacific retail business trust listed in Singapore with a portfolio located in Japan. It focuses on investing in a diversified portfolio of retail real estate assets located in the Asia-Pacific region, with a focus on Japan.

Key Business Activities:
In FY2016 (ended June 2016), CRT’s portfolio of assets grew from seven to 11 income-producing properties valued at S$1.5 billion. It has hedged close to 100% of its expected distribution up to June 2018 to minimise the exposure to exchange rate fluctuations. Expansion is also underway with the acquisition of four new malls, bringing aggregate net lettable area across its 11 assets to 426,100.5sqm with an average occupancy rate of 98.1%.

Key Financial Updates (3QFY2017):
In 3QFY2017, Croesus Retail Trust recorded a 15.2% DPU growth to 2.08 Singapore cents. Its gross revenue grew 22.4% to JPY 3,019million due to better sales and new acquisitions. Accordingly, CRT’s net property income for the quarter rose 14.4% to JPY 1,611million.

Current Market Cap ≈ $779.6million
Current Share price: $1.01 (03 June 2017)
Average Daily Value Traded ≈ $1.44million (6 months ending 31 May 2017)
Average Volume Traded ≈ 1,574,168 (6 months ending 31 May 2017)

*Source: Annual Report
Q1 2017 Quarterly Report