N o t e s t o t h e f i n a n c i a l s t a t e m e n t s
Year ended 31 March 2015
21 Gross revenue
Group
Trust
2015
2014
2015
2014
$’000
$’000
$’000
$’000
(Restated)
Property rental income
596,145 545,992 578,819 538,163
Other income
77,342
67,600
76,551
67,529
673,487 613,592 655,370 605,692
Included in gross revenue of the Group and Trust are contingent rents amounting to $218,000 (2014: $Nil).
22 Property operating expenses
Group
Trust
2015
2014
2015
2014
$’000
$’000
$’000
$’000
(Restated)
Land rent
30,026
26,050
30,026
26,050
Maintenance and conservancy
26,435
25,579
24,924
24,653
Property service fees
25,875
20,986
25,037
20,763
Property tax
55,670
42,878
54,590
42,525
Utilities
50,037
46,871
49,417
46,499
Depreciation of plant and equipment
151
687
151
687
Other operating expenses
22,566
14,568
20,260
13,241
210,760 177,619 204,405 174,418
23 Management fee
Management fee relates to base management fee of $38,137,000 (2014: $35,594,000). Included in management fee is an
aggregate of 3,183,590 (2014: 3,236,380) units amounting to approximately $7,627,000 (2014: $7,118,000) that were
issued or will be issued to the Manager as satisfaction of the management fee payable in units at unit prices ranging from
$2.3229 to $2.5433 (2014: $2.1621 to $2.3219) per unit.
24 Trust expenses
Group
Trust
2015
2014
2015
2014
$’000
$’000
$’000
$’000
(Restated)
Auditors’ remuneration
– audit fees
362
305
233
218
– non-audit fees
125
97
125
97
Professional fees
1,325
606
644
458
Trustee fee
2,323
2,146
2,323
2,146
Other expenses
1,494
2,034
1,116
1,966
5,629
5,188
4,441
4,885
Other expenses for the Group and Trust include depreciation of plant and equipment of $216,000 (2014: $8,000) and
$189,000 (2014: $Nil), respectively.
ASCENDAS REAL ESTATE INVESTMENT TRUST ANNUAL REPORT 2014/15
