CMT has consistently outperformed its DPU forecasts. Central to CMT’s growth were the yield-accretive investments, pro-active management, innovative asset enhancements, improved rental rates and the step-up rentals which CMT has built into its leases.

In the year 2003, CMT’s unit price appreciated by over 41 percent, from the closing price of $1.01 on 31 December 2002 to the closing price of $1.43 on 31 December 2003. The acquisition of IMM boosted the forecast 2003 DPU from the earlier IPO forecast of 6.96 cents to 8.04 cents. Actual DPU of 4.41 cents (annualised : 8.53 cents) paid out for the second half of 2003 was 6 percent higher than the revised forecast and was achieved primarily because of the growth elements put in place and the initiatives undertaken by the Manager.

1. Annualised forecast based on the forecast, together with the accompanying assumptions, in the CMT offering circular dated 28 June 2002.
2. Based on the forecast, together with the accompanying assumptions, in the CMT offering circular dated 28 June 2002.
3. Based on the forecast, together with the accompanying assumptions, in the CMT circular dated 11 June 2003.
4. Based on the forecast, together with the accompanying assumptions, in the CMT circular dated 11 June 2003 for all the properties for the period from June to December 2003 pro-rated for the period from 26 June to 31 December 2003.
5. Based on the forecast, together with the accompanying assumptions, in the CMT offer information statement dated 9 December 2003.

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