Revenue and profit after tax were 0.38% and 137% respectively above last year. This is mainly driven by fair value gains of Rs 537m and decrease in the charge for COVID relief.

A controlled dividend policy was imposed during the past year and a final dividend back to pre-pandemic level was declared as at 30 June 2021. This comprised an aggregate dividend distribution of Rs 0.64 (2020: Rs 0.53).

We are proactive architects of opportunity for start-ups and SMEs. Our B’Local initiative aims to boost further the local economy via the implementation of a framework to assist our local entrepreneurs in the development of their products and services.

The recent opening of the new “42 Market Street” at Bagatelle Mall, has welcomed around 30 local entrepreneurs and created new jobs within our mall. The Management has also ensured that the second entrance of Bagatelle Mall, and Decathlon’s opening, have a positive impact on the customer experience.

In terms of future development, Phoenix Mall will accommodate a Metro Station in 2022 which will be fully funded by Ascencia. It will be placed right at the entrance of the shopping mall.

As climate change worsens, dangerous weather events are becoming more frequent and severe. This can directly harm biodiversity, destroy the places they live and wreak havoc on people's livelihoods and communities. Now more than ever we are pursuing our sustainability journey.

So far, we have gradually been using green energy produced by our PV Farms, recycling the waste through the ‘sorting at source’ initiative and levelling it up with a collaboration with JUA Ltd, which will use food waste from our tenants of Bagatelle Mall and turn it into compost and reusable energy.

Since the beginning we have made painstaking effort to align our operations in a sustainable manner. The inclusion of Ascencia in the Sustainability Index of the Stock Exchange of Mauritius (SEMSI) stands proof of our efforts bearing its fruit. We believe that such inclusion shall reinforce the four key pillars of sustainability: namely the economic, environmental, social and governance aspects.

We will continue fulfilling our customer promise, to Shaping Singular Places, by implementing diverse strategic and tactical initiatives described in details in our capitals section. We will use the latest technologies available to connect all relevant stakeholders within our ecosystem.

I wish to thank the CEO of Ascencia, Frédéric Tyack, and his Property Development and Asset Management team, for their unflinching engagement and creativity to keep the malls vibrant and the tenants afloat during these tough times.

I also wish to thank the Fund Management team, led by Belinda Vacher, who has continually interacted with our shareholders, fund providers and stakeholders to keep them abreast of our initiatives in order to navigate through these uncertainties.

I take this opportunity to thank all of you: fellow Board members, our shareholders, our partners, the authorities, our tenants, shoppers, service providers, and our employees, for being at our side and for your positive contribution to our success.