Highlights for the year ended 31 March 2013 George Hongchoy, Chief Executive Officer of The Link Management, said, “Building on our solid foundation and focused business model, we delivered sustainable growth in revenue, distribution per unit and net asset value per unit, which increased by 9.7%, 13.1% and 28.7% respectively compared to the previous financial year. The compound average annualised total return to our unitholders, comprising aggregate distribution paid and unit price appreciation, reached 23.8% since our listing in 2005.
“In identifying asset enhancement projects, we have adopted a district approach which takes a macro view on individual districts to capitalise on potential projects, and have invested considerably in recent years in Tseung Kwan O district and Tuen Mun / Tin Shui Wai district, both of which enjoy rapidly growing population, rising household income and improvement of transport infrastructure.”
In the year under review, five asset enhancement projects were completed, of which two include market upgrade, and two are properties ranked outside of top 50 by valuation. Eight asset enhancement projects are now underway, and five projects pending statutory approvals. The second phase enhancement works for Chung Fu Plaza will be concluded mid this year, while Yau Oi Commercial Centre and On Ting Commercial Complex will become our flagship in the Tuen Mun district upon completion of asset enhancement works.
“To set a clear target for sustainability performance, we have embarked on a ‘20/20 Vision’ which aims to reduce our annual energy consumption by 20% from the 2010 level by 2020. This commitment follows industry best practice by establishing a clear target to assess how we minimise our operations’ impact on the environment,” said Mr Hongchoy.
“To further enhance property management service quality and professionalism, we have launched ‘The Link Executive Development Programme in Shopping Mall Management’ by partnering with Hong Kong Polytechnic University.
“To enhance staff’s sense of belonging, we have rolled out ‘Employee Unit Purchase Plan’ in July 2012, which essentially turns our employees into Unitholders by subsidising eligible staff to purchase units of The Link REIT in the open market.”
The annual results presentation file can be downloaded at this address:
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