SEO Version
Chairman’s Statement
Listed in Singapore in June 2010, Treasury China Trust (TCT) is a leading owner,
manager and developer of commercial real estate in China with the principal objective
of delivering comprehensive value to unitholders.
Since its initial foray into the Chinese market in 2005, TCT has established a formidable
market presence in the commercial real estate sector in the key Chinese commercial
and financial centres of Shanghai and Beijing and embarked upon a regional expansion
program into the second tier cities represented by the acquisition of a large retail asset
in the coastal city of Qingdao and the formation of a strategic partnership in the central
western city of Xi’an. As of 31 December 2011, TCT’s gross assets under management
(AUM) is in excess of RMB12bn (S$2.7bn), representing close to 800,000 square
metres of income-producing of fice buildings and shopping malls and a high-quality
development pipeline.
Leveraging its synergistic combination of sophisticated Western management practices,
including strong commitment to high quality corporate governance and transparency,
and its intimate local market knowledge and extensive network, TCT administers a
unique and distinctive business model that delivers an all encompassing framework
overseen by a highly experienced on-the-ground team of more than 80 property and
finance professionals.
About Treasury China Trust
“2011 has witnessed a strong operating performance for TCT with revenues
increasing sequentially quarter-on-quarter, registering total income for the group
of RMB476.08 million for the 12 months ending 31 December 2011 and Core
Portfolio committed occupancy at 97.80%. Of equal importance the second half of
2011 registered annualised income of more than RMB500 million from operating
activities for the first time in TCT’s near 5 year history and provides confidence
as to annual revenue growth for the 2012 year ahead. This improving operating
environment underwrites the ongoing focus on the development of The HQ, which
progressed satisfactorily during 2011 and as March 2012 had achieved 27% leasing
pre-commitment for the expanded retail podium. This augurs well for the extremely
positive impact The HQ should have on TCT’s revenues and net asset value upon
completion in 2013.”
Richard Barrett, Chairman
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3/23/2012
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