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CapitaLand Mall Trust
Annual Report 2015
Independent Auditors’ Report
Unitholders of CapitaLand Mall Trust
(formerly known as CapitaMall Trust)
(Established in the Republic of Singapore pursuant to a Trust Deed dated 29 October 2001 (as amended))
Report on the financial statements
We have audited the accompanying financial statements of CapitaLand Mall Trust (formerly known as CapitaMall
Trust) (the “Trust”) and its subsidiaries (the “Group”), which comprise the Statements of Financial Position and
Portfolio Statements of the Group and the Trust as at 31 December 2015, and the Statements of Total Return,
Distribution Statements, Statements of Movements in Unitholders’ Funds and Statements of Cash Flows of the
Group and the Trust for the year then ended, and a summary of significant accounting policies and other explanatory
information, as set out on pages 129 to 202.
Manager’s responsibility for the financial statements
The Manager of the Trust is responsible for the preparation and fair presentation of these financial statements in
accordance with the recommendations of
Statement of Recommended Accounting Practice 7 “Reporting Framework
for Unit Trusts”
issued by the Institute of Singapore Chartered Accountants, and for such internal control as the
Manager of the Trust determines is necessary to enable the preparation of financial statements that are free from
material misstatements, whether due to fraud or error.
Auditors’ responsibility
Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our
audit in accordance with Singapore Standards on Auditing. Those standards require that we comply with ethical
requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements
are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the
financial statements. The procedures selected depend on the auditor’s judgement, including the assessment of
the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk
assessments, the auditor considers internal control relevant to the Trust’s preparation and fair presentation of the
financial statements in order to design audit procedures that are appropriate in the circumstances, but not for
the purpose of expressing an opinion on the effectiveness of the Trust’s internal control. An audit also includes
evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made
by the Manager of the Trust, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit
opinion.
Opinion
In our opinion, the consolidated financial statements of the Group and the financial statements of the Trust present
fairly, in all material respects, the financial position of the Group and of the Trust as at 31 December 2015 and the
total return, distributable income, movements in Unitholders’ funds and cash flows of the Group and of the Trust
for the year then ended in accordance with the recommendations of
Statement of Recommended Accounting
Practice 7
“
Reporting Framework for Unit Trusts
” issued by the Institute of Singapore Chartered Accountants.
KPMG LLP
Public Accountants and
Chartered Accountants
Singapore
12 February 2016
