CIT’s distributable income increases and portfolio revalues upwards.

Key highlights include:


• 2Q2011 amount available for distribution was S$12.3 million as compared to S$11.9 million for 1Q2011. This translated to a 2Q2011 distribution per unit (“DPU”) of 1.036 cents, which is 3.5% more than 1Q2011 DPU of 1.001 cents.

• Portfolio valuation as at 30 June 2011 resulted in an increase of 5.5%, or S$47.8 million, on a like-for-like basis, from the 31 December 2010 valuation. CIT’s total assets stand at S$1.1 billion as at 30 June 2011.

In addition, as previously disclosed to the market, the following items were completed during the quarter:

• Secured a S$320.0 million new term loan facility with a syndicate of four financial institutions. All-in debt cost is approximately 4.23% p.a.

• Completed the acquisitions of 4 & 6 Clementi Loop and 60 Tuas South Street 1 with a total valuation of S$46.4 million.

• Concluded a fully underwritten and renounceable Rights Issue with approx. 132.1 million new Rights Units issued on 15 April 2011 raising S$56.7 million.