Page 195 - ar2013.pdf

ANNUAL REPORT FY12/13 191
Additional Information
Interested party transactions
Transactions entered into with related parties during the financial year falling under the Listing Manual of the SGX-ST and the Property Funds
Appendix (excluding transactions of less than $100,000 each) are as follows:
Aggregate value of all interested party
transactions during the financial period
under review (excluding transactions
less than $100,000)
Name of interested party $’000
JTC Corporation
– Land rent 34,847
– Land premium and processing fee 4,100
Ascendas Pte Ltd and its subsidiaries
– Property service and other property management fees 16,783
– Service charge and reimbursables 6,909
– Management fee 40,205 (1)
– Acquisition fee 1,260 (2)
– Development management fee 1,110 (3)
– Acquisition of property 126,000
– Marketing fees paid/payable during the year 9,694
– Car park income (1,224)
– Incentive payment (935)
HSBC Institutional Trust Services (Singapore) Ltd
– Trustee fees 2,000
240,749
Total
(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 (FY12/13: payable in cash and FY11/12: Nil) of:
t QFS BOOVN PG UIF %FQPTJUFE 1SPQFSUZ QSPWJEFE UIBU UIF BOOVBM HSPXUI JO EJTUSJCVUJPO QFS VOJU JO B HJWFO GJOBODJBM ZFBS DBMDVMBUFE CFGPSF
BDDPVOUJOH GPS UIF QFSGPSNBODF GFF JO UIBU GJOBODJBM ZFBS FYDFFET BOE
t BO BEEJUJPOBM QFS BOOVN PG UIF %FQPTJUFE 1SPQFSUZ QSPWJEFE UIBU UIF HSPXUI JO EJTUSJCVUJPO QFS VOJU JO B HJWFO GJOBODJBM ZFBS DBMDVMBUFE CFGPSF
accounting for the performance fee in that financial year) exceeds 5.0%.
(2) an acquisition fee of 1.0% of the purchase price of investment property acquired by the Trustee on behalf of the Trust.
(3) Development management fee, not exceeding 3.0% of the total project cost incurred in development projects undertaken by the Trust. In cases where
the market pricing for comparables services is materially lower, the Manager will reduce the development management fee to less than 3.0%. In addition,
when the estimated total project cost is greater than $100.0 million, the Trustee and the Manager’s independent directors will first review and approve
the quantum of the development management fee.
Please also see Significant Related Party Transactions in Note 29 to the financial statements.