4. GROSS REVENUE
5. PROPERTY OPERATING EXPENSES
6. MANAGER’S MANAGEMENT FEES
7. FINANCE COSTS
During the financial year, transaction costs expensed for refinancing a bank loan was S$714,000 (2013: Nil).
NOTES TO THE
FINANCIAL STATEMENTS
31 DECEMBER 2014
Group
Trust
2014
2013
2014
2013
S$’000
S$’000
S$’000
S$’000
Rental income
93,255
83,280
3,615
3,458
Dividend income from subsidiaries
–
–
52,771
46,401
93,255
83,280
56,386
49,859
Group
Trust
2014
2013
2014
2013
S$’000
S$’000
S$’000
S$’000
Property tax expense
62
63
62
63
Valuation expenses
211
197
35
32
Insurance expenses
89
67
–
–
Professional fees
387
468
–
24
Impairment allowance on trade receivables
546
2,150
–
–
Others
87
127
–
1
1,382
3,072
97
120
Group and Trust
2014
2013
S$’000
S$’000
Base fees
4,544
3,967
Performance fees
4,594
4,010
9,138
7,977
Group and Trust
2014
2013
S$’000
S$’000
Interest expense
13,376
11,132
Amortised borrowing costs
1,841
1,241
15,217
12,373
64
FIRST REIT
ANNUAL REPORT 2014
