Page 186 - ar2012

Interested party transactions
Transactions entered into with related parties during the fnancial year falling within the Listing Manual of the SGX-ST and the CIS Code
are as follows:
Aggregate value of all interested party
transactions during the fnancial period
under review (excluding transactions
less than $100,000)
Name of interested party $’000
JTC Corporation
– Land rent 29,633
– Licence fees paid for development projects 320
– Land premium and processing fee 136,422
Ascendas Pte Ltd and its subsidiaries
– Property service fees 23,058
– Service charge and reimbursables 3,201
– Management fees 29,142(1)
– Acquisition fees 5,453 (2)
– Development management fees 4,852(3)
– Acquisition of properties 228,597
– Carpark income (3,496)
– Incentive payment (467)
– Marketing fees paid during the year 6,874
HSBC Institutional Trust Services (Singapore) Ltd
– Trustee fees 1,752
Total 465,341
(1) The Manager’s Fee comprises:
(i) a base management fee of 0.5% per annum of the Deposited Property. With effect from 19 November 2007, the Manager has
elected to receive 20% of the base management fee in units and 80% in cash for all properties.
(ii) an annual performance fee (2012: Nil and 2011: paid in cash) of:
• 0.1% per annum of the Deposited Property, provided that the annual growth in distributions per unit in a given fnancial year
(calculated before accounting for the performance fee in that fnancial year) exceeds 2.5%; and
• an additional 0.1% per annum of the Deposited Property, provided that the growth in distributions per unit in a given fnancial year
(calculated before accounting for the performance fee in that fnancial year) exceeds 5.0%.
No performance fee was payable for the current fnancial year.
ADDITIONAL INFORMATION
ASCENDAS REAL ESTATE INVESTMENT TRUST
ANNUAL REPORT FY11/12
186