CCT Q3 2010 Quarterly Earnings Report

Q3 2010 results for CCT:

• Press Release
• Financial Statements
• Presentation Slides

Key Points

• The DPU for the reporting quarter is 1.99 cents.
• For the financial period from 1 July 2010 to 30 September 2010 (3Q 2010), distributable income is S$56.2 million, a year-on-year increase of 7.9% from S$52.1 million.
• Distribution yield is 5.5% based on 3Q 2010 DPU and the closing price of S$1.44 per unit on 20 October 2010.
• Grade A offices registered near 100% occupancy, and overall portfolio achieved a rate of 98.2%.
• Standard & Poor's Ratings Services assigned to the Trust a long-term global corporate credit rating of ‘BBB+’ with a stable outlook. Currently, the Trust has a corporate family rating of ‘Baa2’ with a positive outlook from Moody’s. 
• Total assets at about S$6 billion.
• The adjusted NAV per Unit is S$1 40, assuming the distributable income has been paid out to the unitholders.
• Gearing ratio at 31.5%.

Author's Note
The DPU for the reporting quarter is 1.99 cents. There will not be any distribution this quarter as the reit has a semi-annual distribution policy. DPU was 1.97 cents for the previous quarter.