As at 2020 Second Quarter Financial Results (7 Aug 2020)
BHG Retail REIT is the first pure-play China retail REIT sponsored by an established PRC homegrown retail property operator (Beijing Hualian Department Store Co), listed on 11 Dec 2015. It has ownership/interest in 6 properties worth S$0.93 billion (RMB 4.7 billion) as at 30 Jun 2020.
| Gross rental income (by sector) |
Percentage |
| Fashion | 39.4% |
| F&B | 22.3% |
| Supermarket | 18.6% |
| Services | 8.2% |
| Recreation | 5.8% |
| Lifestyle | 5.4% |
| Specialty Stores | 0.3% |
| Gross rental income (by geographical location) |
Percentage |
| China | 100% |
| Metrics | 2Q 2020 | 1Q 2020 |
| Gearing Ratio (Aggregate Leverage) |
35.9% | 35.3% |
| Weighted Average Debt to Maturity (Average Term to Maturity) |
2.2 years | 2.2 years |
| Average Cost of Debt (p.a.) | 3.9% | 4.2% |
| Occupancy Rate | 92.9% | 94.7% |
| Weighted Average Lease Expiry (by GRI) |
3.7 years | 3.7 years |
| Top 10 tenants (gross rental income) |
24.4% | (as at 31 Dec 19) |
| Top tenant (gross rental income) |
15.8% | (as at 31 Dec 19) |
| 1H 2020 | 1H 2019 | |
| Metrics | S$ mil | S$ mil |
| Gross Revenue | 27.8 | 38.1 |
| Property operating expenses |
(11.3) | (12.9) |
| Net Property Income | 16.5 | 25.2 |
| Distributable Income | 4.3 | 9.0 |
| DPU | 0.89c | 2.08c |
Changed to semi-annual reporting. No Q2 2020 comparison with Q2 2019.
PORTFOLIO
CHINA
| Property | NPI (%) | Occupancy 2Q 2020 |
Occupancy 1Q 2020 |
| Beijing Wanliu (60%) |
58.8 | 93.7 | 95.0 |
| Chengdu Konggang |
14.1 | 88.8 | 91.2 |
| Hefei Mengchenglu |
10.3 | 89.9 | 92.0 |
| Hefei Changjiangxilu |
6.8 | 90.0 | 94.3 |
| Xining Huayuan |
5.9 | 100.0 | 100.0 |
| Dalian Jinsanjiao |
4.1 | 100.0 | 100.0 |
