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CapitaLand Mall Trust
Annual Report 2015
Overview
Sustainability
Business
Review
Portfolio
Details
Corporate
Governance &
Transparency
Financials &
Additional
Information
1 General
(continued)
1.2 Asset management fees
Pursuant to the Trust Deed, the asset management fees shall not exceed 0.70% per annum of the Deposited
Property or such higher percentage as may be fixed by an Extraordinary Resolution at a meeting of Unitholders.
Deposited Property refers to all the assets of the Trust, including all its Authorised Investments (as defined in
the Trust Deed) for the time being held or deemed to be held upon the trusts of the Trust Deed.
The asset management fees comprise:
(a) in respect of Authorised Investments which are in the form of real estate, a base component of 0.25%
per annum of Deposited Property and a performance component of 2.85% per annum of gross revenue
of the Trust for each financial year; and
(b) in respect of all other Authorised Investments which are not in the form of real estate, 0.5% per annum
of the investment value of the Authorised Investment, unless such Authorised Investment is an interest
in a property fund (either a real estate investment trust or private property fund) wholly managed by a
wholly-owned subsidiary of CapitaLand Limited, in which case no asset management fee shall be payable
in relation to such Authorised Investment.
In respect of all Authorised Investments which are in the form of real estate acquired by the Trust:
(a) the base component shall be paid to the Manager in the form of cash and/or Units (as the Manager may
elect); and
(b) the performance component shall be paid to the Manager in the form of cash, in the form of Units or a
combination of both (as the Manager may elect).
When paid in the form of Units, the Manager shall be entitled to receive such number of Units as may be
purchased for the relevant amount of the asset management fee at the market price (as defined in the Trust
Deed). The asset management fees are payable quarterly in arrears.
For all acquisitions or disposals of properties or investments, the Manager is entitled to receive acquisition
fee of 1.0% of the purchase price and a divestment fee of 0.5% of the sale price.
1.3 Trustee’s fees
Pursuant to the Trust Deed, the Trustee’s fees shall not exceed 0.10% per annum of the Deposited Property
(subject to a minimum sum of $6,000 per month) payable out of the Deposited Property of the Trust. The Trustee
is also entitled to reimbursement of expenses incurred in the performance of its duties under the Trust Deed.
The Trustee’s fees are payable quarterly in arrears.
