# 11. TOTAL DISTRIBUTABLE INCOME

Total distributable income is the (loss) profit for the period, before distribution to unitholders as adjusted to eliminate the effects of Adjustments (as defined and set out in the Trust Deed) which have been recorded in the condensed consolidated income statement for the relevant period. The Adjustments to arrive at total distributable income for the period are set out below:

<table><tr><td rowspan="2"></td><td>2020</td><td>2019</td></tr><tr><td>HK$'000 
(unaudited)</td><td>HK$'000 
(unaudited)</td></tr><tr><td>(Loss) profit for the period, before distribution to unitholders</td><td>(8,491,803)</td><td>3,186,527</td></tr><tr><td>Adjustments:</td><td></td><td></td></tr><tr><td>M'anagers fees payable in units</td><td>71,660</td><td>75,757</td></tr><tr><td>Decrease (increase) in fair value of investment properties</td><td>9,172,565</td><td>(2,455,700)</td></tr><tr><td>Fair value changes on financial assets at fair value 
through profit or loss</td><td>1,939</td><td>-</td></tr><tr><td>Non-cash finance costs</td><td>12,434</td><td>20,955</td></tr><tr><td>Deferred tax</td><td>37,277</td><td>41,384</td></tr><tr><td>Total distributable income</td><td>804,072</td><td>868,923</td></tr></table>

# 12. DISTRIBUTION STATEMENT

<table><tr><td rowspan="2"></td><td>2020</td><td>2019</td></tr><tr><td>HK$'000 
(unaudited)</td><td>HK$'000 
(unaudited)</td></tr><tr><td>Total distributable income (note 11)</td><td>804,072</td><td>868,923</td></tr><tr><td>Percentage of distributable income for distribution (note (i))</td><td>90%</td><td>90%</td></tr><tr><td>Total distribution amount to be paid</td><td>723,665</td><td>782,031</td></tr><tr><td>Distribution per unit to unitholders (note (ii))</td><td>HK$0.1229</td><td>HK$0.1332</td></tr></table>

Notes:

(i) It is the policy of the Manager to distribute 90% (six months ended 30 June 2019: 90%) of available distributable income as the distributions for the six months ended 30 June 2020 (the "Interim Distribution Period").

(ii) The interim distribution per unit of HK\$0.1229 for the six months ended 30 June 2020 is calculated based on the interim distribution to be paid of HK\$723,665,000 for the period and 5,888,833,523 units in issue as at 30 June 2020. Such interim distribution will be subject to further adjustments upon the issuance of units on or before 25 September 2020, which is the record date set for such period. The interim distribution will be paid to unitholders on 9 October 2020.

The interim distribution per unit of HK\$0.1332 for the six months ended 30 June 2019 was calculated based on the interim distribution paid of HK\$782,031,000 for the period and 5,872,789,311 units as of 20 September 2019, which was the record date for the period. The interim distribution was paid to unitholders on 4 October 2019.

# 13. BASIC (LOSS) EARNINGS PER UNIT

The basic (loss) earnings per unit during the six months ended 30 June 2020 is calculated by dividing the loss for the period before distribution to unitholders of HK\$8,491,803,000 (2019: profit for the period before distribution to unitholders of HK\$3,186,527,000) by the weighted average number of units of 5,892,170,575 (2019: 5,860,193,423) in issue during the period, taking into account the units issuable as manager's fee for its service for each of the six months ended 30 June 2020 and 2019.

There were no diluted potential units in issue during the six months ended 30 June 2020 and 2019, therefore the diluted earnings per unit has not been presented.

# 14. TRADE AND OTHER RECEIVABLES

<table><tr><td rowspan="2"></td><td>At 
30 June 
2020</td><td>At 
31 December 
2019</td></tr><tr><td>HK$'000 
(unaudited)</td><td>HK$'000 
(audited)</td></tr><tr><td>Trade receivables</td><td>37,322</td><td>10,467</td></tr><tr><td>Deferred lease receivables</td><td>183,545</td><td>166,052</td></tr><tr><td>Deposits, prepayments and other receivables</td><td>81,466</td><td>82,845</td></tr><tr><td></td><td>302,333</td><td>259,364</td></tr></table>

Aging analysis of the Group's trade receivables presented based on the invoice date at the end of the reporting period is as follows:

<table><tr><td rowspan="2"></td><td>At 
30 June 
2020</td><td>At 
31 December 
2019</td></tr><tr><td>HK$'000 
(unaudited)</td><td>HK$'000 
(audited)</td></tr><tr><td>0 - 3 months</td><td>30,838</td><td>10,467</td></tr><tr><td>3 - 6 months</td><td>4,179</td><td>-</td></tr><tr><td>Over 6 months</td><td>2,305</td><td>-</td></tr><tr><td></td><td>37,322</td><td>10,467</td></tr></table>