Page 182 - ar2013

CapitaMall Trust Annual Report 2013 180 Clarity
Notes to the
Financial Statements
8 ASSOCIATE AND JOINT VENTURES (continued)
Joint Ventures
Infinity Mall Trust and Infinity Office Trust
(a) Infinity Mall Trust
Infinity Mall Trust is an unlisted special purpose trust established under a trust deed (“Infinity Mall Trust
Trust Deed”) dated 25 May 2011 entered into between the Trustee, CMA Singapore Investments (4) Pte. Ltd.,
CL JM Pte. Ltd. and JG Trustee Pte. Ltd. (as trustee of Infinity Mall Trust). Infinity Mall Trust is 30.0% owned by
the Trust, 50.0% by CMA Singapore Investments (4) Pte. Ltd. and 20.0% by CL JM Pte. Ltd.
Infinity Mall Trust owns Westgate, at Jurong Gateway. Westgate obtained its temporary occupation permit
on 25 November 2013 and commenced operations on 2 December 2013.
Infinity Mall Trust has entered into property management agreement in relation to management of Infinity
Mall Trust and its property operations. The fee structures of these services are as follows:
(i) 2.00% per annum of the gross revenue of the properties;
(ii) 2.00% per annum of the net property income of the properties; and
(iii) 0.50% per annum of the net property income of the properties, in lieu of leasing commissions.
The property management fees are payable monthly in arrears.
(b) Infinity Office Trust
Infinity Office Trust is an unlisted special purpose trust established under a trust deed (“Infinity Office Trust
Trust Deed”) dated 25 May 2011 entered into between the Trustee, CMA Singapore Investments (5) Pte. Ltd.,
CL JO Pte. Ltd. and JG2 Trustee Pte. Ltd. (as trustee of Infinity Office Trust). Infinity Office Trust is 30.0%
owned by the Trust, 50.0% by CMA Singapore Investments (5) Pte. Ltd. and 20.0% by CL JO Pte. Ltd.
Infinity Office Trust owns Westgate Tower, at Jurong Gateway which is expected to be completed by
end 2014. Please also refer to Note 35 - Subsequent Event.
RCS Trust
RCS Trust is an unlisted special purpose trust established under a trust deed (“RCS Trust Trust Deed”) dated
18 July 2006 entered into between HSBC Institutional Trust Services (Singapore) Limited as trustee-manager
of RCS Trust (“RCS Trust Trustee-Manager”), HSBC Institutional Trust Services (Singapore) Limited as trustee
of CapitaCommercial Trust (“CCT Trustee”), the Trustee, CapitaCommercial Trust Management Limited (CCTML
as manager of CCT) and the Manager. RCS Trust is 40.0% owned by the Trust and 60.0% owned by CCT.
RCS Trust has entered into several service agreements in relation to management of RCS Trust and its property
operations. The fee structures of these services are as follows: