BUSINESS MODEL TO DRIVE PERFORMANCE
Providing the highest level of service to our stakeholders
| Invest |
|
Finance |
|
Own |
|
Earn rental |
|
Manage |
|
Distribute earnings |
| • |
Seek suitable
acquisition
opportunities
both locally and
internationally which
fit our business
strategy |
| • |
Maintain a limited
development
programme tailored
to market risks and
opportunities |
|
|
| • |
Sustain a strong
balance sheet
through conservative
gearing and credit
metrics that are well
within covenants |
| • |
Optimise the cost
of capital by having
access to all available
forms of funding |
| • |
Limit exposure
to interest rates
fluctuations by fixing
rates over periods
matching loan expiry
profiles |
|
|
| • |
Maintain a balance
of a sectorally and
geographically
diversified
portfolio of quality
properties to
take advantage
of opportunities,
market conditions
and user demand |
|
|
| • |
Optimise the
letting of available
space to financially
sound tenants with
long leases |
|
|
| • |
Preserve and enhance
the value of properties
through on-going
maintenance, upgrading,
refurbishment and
enhancement |
| • |
Using and growing our
skills and understanding
of our operating
environment by
attracting and retaining
the best people through
creating a working
environment that is
conducive to productivity
and performance |
|
|
| • |
Balancing the need
to provide investors
with growing
distributions on an
annual basis with
the objective of
delivering sustainable
earnings in the
long term, we will
continue to invest
in our properties, in
our employees and
the communities in
which we operate |
|
Key Performance Indicators
| Invest |
|
Finance |
|
Own |
|
Earn rental |
|
Manage |
|
Distribute earnings |
Business growth:
| • |
Gross asset base growth |
|
|
Financial management:
| • |
Loan to value ratio |
| • |
Debt expiry profile |
| • |
Interest rate hedging |
| • |
Secured versus unsecured debt |
| • |
Moody’s rating |
|
|
Business growth:
| • |
Gross asset base growth |
|
|
Business growth:
| • |
Gross revenue growth |
| • |
Dividend growth in absolute terms |
|
|
Operational metrics:
| • |
Property cost to income ratio |
| • |
Operating expense ratio |
| • |
Overall vacancies |
| • |
Total arrears (as
a % of collectables) |
|
|
Growth in dividend per
share:
| • |
Internal benchmark (budget) |
| • |
Peer group benchmark |
|
Qualitative factors: Compliance, development of people/culture/values, overall management review and industry participation
