95 Annual Report 2024 to be determined at the Manager’s discretion. Distributions are generally paid within 35 market days after the relevant record date. Timely Disclosure of Information The Manager is committed to keeping all Unitholders, other stakeholders, analysts and the media informed of CICT’s performance and any changes in the CICT Group or its business which is likely to materially affect the price or value of the Units, by posting announcements and news releases on SGXNet and the Website in compliance with regulatory reporting requirements, on a timely and consistent basis. In FY 2024, the Manager provided Unitholders with half-year and full-year financial statements within the relevant periods under the Listing Manual. Such financial statements were reviewed and approved by the Board before being announced on SGXNet and accompanied by news releases. In presenting the financial statements to Unitholders, the Board sought to provide Unitholders with a balanced, clear and comprehensible assessment of CICT and the CICT Group’s performance, position and prospects. The Manager provides Unitholders, on a voluntary basis, with quarterly business updates between such announcements, which contain information on the CICT Group’s key operating and financial metrics. In addition, the Manager also keeps CICT’s Unitholders, stakeholders and analysts informed of the performance and changes in the CICT Group or its business which would likely materially affect the price or value of the Units. The Manager also conducts analysts’ and media briefings, and uploads the briefing materials used on SGXNet. The Manager has a formal policy on corporate disclosure controls and procedures to ensure that CICT complies with its disclosure obligations under the Listing Manual. These controls and procedures incorporate the decision-making process and an obligation on internal reporting of the decisions made. Investor Relations The Manager has an Investor Relations department which facilitates effective communication with Unitholders and analysts. The Manager also has a corporate communications function supported by CLl’s Group Communications department which works closely with the media and oversees CICT’s media communications efforts. The Manager maintains the Website containing information on CICT including its Prospectus, announcements and news releases, financial statements and investor presentations. The Manager actively engages with Unitholders to solicit and understand their views, and has a Unitholders’ Communication and Investor Relations Policy (IR Policy) to promote regular, effective and fair communications with Unitholders. The IR Policy, which sets out the mechanism through which Unitholders may contact the Manager with questions and through which the Manager may respond to such questions, is available on the Website. Managing Stakeholder Relationships The Board’s role includes considering sustainability as part of its strategy formulation. The Manager adopts an inclusive approach for CICT by considering and balancing the needs and interests of material stakeholders. The Manager is committed to sustainability and incorporates the key principles of environmental and social responsibility, and corporate governance in CICT’s business strategies and operations. The Manager has arrangements to identify, engage and manage relationships with material stakeholder groups from time to time, and gathers feedback on the sustainability issues most important to them. The Manager also updates the Website with current information on its sustainability approach and stakeholder engagements, to facilitate communication and engagement with CICT’s stakeholders. The rights of CICT’s creditors, which comprises of lending banks, are protected with a well-spread debt maturity, healthy interest coverage ratio and gearing ratio below the regulated limit. Regular internal reviews are also conducted to ensure that various capital management metrics remain compliant with loan covenants. ADDITIONAL INFORMATION Executive Committee The Board has also established an EC, which oversees the day-to-day activities of the Manager and CICT. The EC is guided by its terms of reference, in particular, the EC approves specific budgets for capital expenditure on development projects, acquisitions and enhancements/upgrading of properties within its approved financial limits; reviews management reports and operating budgets; and awards contracts for development projects. The members of the EC also meet informally during the year. Dealings with Interested Persons Review Procedures for Interested Person Transactions The Manager has internal control procedures to ensure that interested person transactions (IPTs) are in compliance with Chapter 9 of the Listing Manual and the Property Funds Appendix. The Manager would have to demonstrate to the ARC that such IPTs are undertaken at arm’s length, on normal commercial terms and are not prejudicial to CICT and Unitholders’ interests, which may include obtaining (where practicable) third party quotations or valuations from independent valuers (in accordance with the Listing Manual and Property Funds Appendix).
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