2Q & 1H FY24/25 Financial Results Briefing

Hi, good morning. This is your mayor. Welcome to NLP's second quarter results for the financial year ending March 2020. I now hand over the session to Shange for kick off the presentation. Hi, my name is Yewan. We continue to do the key highlights for the quarter before going into details of the financial results. Key highlights. Okay, so for the quarter, our gross revenue is 1.8% lower year on year at 183.3 million. NPI is 2.1% lower year on year at 158.6 million. NTTU is 10.6% lower, 2.027%. Popular capacity remains stable at 96%, with an average revenue version of a negative 0.6, mainly due to our China portfolio.

Excluding the China portfolio, our revenue version is a positive 3.6%. We have reduced payroll to 1.3%. As we leverage at 40.2%, higher than 39.6%, again, the last quarter, mainly because of the strengthening of the JPY, as well as lower fair value on our financial derivatives. Our debt has been looked at for 84% that means debt maturity of 3.6 years, and income for the next 12 months. The reserves have been hedging the same dollars, or I can buy the same dollars. We have three properties in Malaysia where we announced divestment and spending completion. A total of about 15 million. And what the concrete that is in the portal would be one property in Singapore and one property in Malaysia. We also proactively issued 180 million of perps at 4.3%.

This is the intention of redeeming the 180 million, which is at 5.2% at the end of September. So the 180 million at 4.3% was issued at the end of August, while the redemption was at the end of September. You would notice in our financial results that there is a one-part overlap in the distribution. But in the meantime, I need to clean up a lot of overlap. We have achieved some really good proceeds to pardon loads of similar interests. Moving on to 2Q versus 2Q1 results. First revenue was lower mainly due to the low contribution from China. Second revenue contribution from domestic properties as well as currency weakness. This is mitigated by tons of performance in the rest of our countries. As well as contributions from acquisitions completed at the end of last financial year and the beginning of this financial year.

On a contract monthly basis, cost revenue would be sad and NCI would have declined by 0.3%. Foreign costs increased mainly due to higher average interest rates on our existing debt, where we replaced our expiring or expired IRS's at higher rates. Incremental borrowing, so fund 1Q, FR24 and 4Q, FR23 results. And then the increase is actually partly due to the low repayments that proceed. So out of the 8.2% increase, which is about 2.3 million, it's due to incremental borrowing to fund the acquisitions. While the remaining, whatever increase in our IRS is actually offset by interest savings on the low repayments is 14% investment as well as our proactive capital management.

And accordingly, our PI is 8% lower, 109 million versus 118 million. But leading to a DTU of 2.02 cents, 10.6% lower than 2.268 cents. Excluding the DG of 6.1 million in this quarter and DG of 8.8 million in total last year, our adjusted PI would have been 7.2% lower. And the adjusted DTU excluding the effects of that investment gain would have been 9.07 cents versus 2.091 cents last year. For the one-half results, versus one-half last year, the reasons behind the cost revenue and end time estimates are largely the same. And so I have mentioned earlier, foreign costs also similar trending as what I mentioned, 2.8% last year.

Amount is attributable to unit holders with 7.5% lower than last year. Transcause leading to a DTU of 9.8% lower than last year, 4.095 cents. This quarter, this first half, this is 4.5% last year. Excluding DG, our first half, DTU would have been 7.9% lower, 3.861 cents. This first half of F of 24.75, this is 4.191 cents versus one-half last year. For the quarter, our gross revenue is 0.9% higher, 2Q versus 1Q. This is mainly due to higher contribution from our same-store asset in Singapore and Australia. And full contribution from the acquisitions within 1Q last year, 1Q this year. Partly offsetted by lower contributions from China as a currency witness.