MANAGER’S REPORT
DYNAMIC DE-RISKING STRATEGY
2014 was a challenging year. Notwithstanding that, CIT
successfully acquired four properties, totalling S$140.8
million. As at 31 December 2014, CIT’s portfolio stood at
50 assets with a value of S$1.37 billion and occupancy
remained stable at approximately 96.0%, above the
industrial average market of 90.9%
1
The Manager continued to proactively manage
its lease expiries and improved its tenant mix to
strengthen its portfolio. During the year, the Manager
renewed 1.88 million sq ft of leases with a positive
average rental version of 4.6%. With a diversified
base of 168 tenants, the top 10 tenants accounted
for approximately 37.3% of rental income as at
31 December 2014. CIT’s Weighted Average Lease Expiry
(“WALE”) stood at 4.0 years with an average portfolio
rent of S$1.08 psf per month.
TOP 10 TENANTS ACCOUNT FOR 37.3% OF RENTAL INCOME
AS AT 31 DECEMBER 2014
6.9
5.0
4.9
3.8
3.3
3.1
2.9
2.8
2.5
2.1
Venture Corporation Limited
Nobel Design Holdings Ltd
Hoe Leong Corporation Ltd
CWT Limited
HG Metal Manufacturing Limited
EuroSports Auto Pte Ltd
Beyonics International Pte Ltd
Seksun International Pte Ltd
Tye Soon Limited
Compact Metal Industries Ltd
10.0
5.0
0.0
1.0
6.0
2.0
7.0
3.0
8.0
4.0
9.0
%
TRADE SECTOR (BY RENTAL INCOME)
AS AT 31 DECEMBER 2014
Construction
Manufacturing
Transportation
and Storage
Precision Engineering
Other Services
Wholesale, Retail Trade
Services and Others
Professional, Scientific
and Technical Activities
4.0%
26.1%
9.4%
27.3%
3.0%
26.4%
3.8%
1 JTC 4th quarter market report
CAMBRIDGE INDUSTRIAL TRUST | ANNUAL REPORT 2014
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