Page 225 - ar2013

Appendix
223
Interested
Person Transactions
The transactions entered into with interested persons during the financial year, which fall under the Listing Manual
of the Singapore Exchange Securities Trading Limited (SGX-ST) and the Property Funds Appendix of the Code on
Collective Investment Schemes (excluding transactions of less than S$100,000 each), are as follows:
Aggregate value of all interested person
transactions during the financial year
under review (excluding transactions of
less than S$100,000 each)
Name of Interested Person S$’000
CapitaLand Limited and its subsidiaries or associates
- Management fees 1 44,646
- CMT's 30.00% interest in property management agreement on Westgate 2 22,961
- Property management fees & reimbursables 3 61,297
- Project management and consultancy fees for asset enhancement works 3,914
- Rental and service income 1,185
Temasek Holdings (Private) Limited and its associates
- Rental and service income 4,820
- General services 3,816
HSBC Institutional Trust Services (Singapore) Limited
- Trustee fees 1,272
1 For the purposes of Clause 907 of the Listing Manual of the SGX-ST, in arriving at this figure, the market price of the units (being the closing price of the
units traded on the SGX-ST on the relevant date of issue of the units) issued to the Manager for its management fees, was used to determine the amount
of the aggregate asset management fees paid to the Manager for the period from 1 January 2013 to 31 December 2013.
2 S$639,000 was incurred during the year.
3 Excludes the property management fees & reimbursables of S$639,000 in relation to Westgate (see footnote 2 above) which were incurred during the year.
Save as disclosed above, there were no additional Interested Person Transactions (excluding transactions of less than
S$100,000 each) entered into during the financial year under review.
On 10 February 2004, the SGX-ST has granted a waiver to CMT from Rules 905 and 906 of the SGX-ST’s Listing Manual
in relation to payments for management fees, payments for acquisition and divestment fees, payments of property
management fees, reimbursements to the property manager in respect of payroll and related expenses as well as
payments of trustee’s fees. Such payments are not to be included in the aggregated value of total interested person
transactions as governed by Rules 905 and 906 of the SGX-ST’s Listing Manual.
Please also see Note 28 on Related Parties in the financial statements.
Subscription of CMT Units
For the financial year ended 31 December 2013, an aggregate of 2,736,018 units were issued and subscribed for.
As at 31 December 2013, 3,459,156,692 units were in issue and outstanding. On 4 February 2014, 769,429 units were
issued to the Manager as payment of its asset management fees for the fourth quarter of 2013 in relation to CMT’s
40.00% interest in Raffles City Singapore through RCS Trust.