What did we do in the past months to create long-term superior returns for our shareholders?

Here’s an overview on some our projects completed:

1. The refinancing of existing bank debts of Rs 4.8bn. This has enabled the improvement of the cost of funding and debt maturity profile.

1. CARE Ratings revised the rating on all our debt facilities to CARE MAU AA- Stable from CARE MAU A+ Stable after considering stable performance & high occupancy of all the malls, renewal of lease rentals agreements and the expansion of Bagatelle mall.

1. As part of the refinancing exercise and to optimise the holding structures of our assets, the three wholly owned subsidiaries- Beau Vallon Shopping Mall Ltd, The Floreal Commercial Centre Ltd and Bagaprop Ltd were merged into the holding company Ascencia Ltd (short form). In the process, all the existing term loans presently sitting at the subsidiary levels were repaid. The effective date of the amalgamation is 01 July 2022.

From left to right: Belinda Wong – Vacher, Atish Rajcoomarsing, Jason Chin Chew, Ashvin Chatoorsing Daryl Pitchen

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