Notes to the financial statements
Year ended 31 March 2016
1.
General (continued)
(c)
Fees under the property management agreements (for the Singapore and China properties) (continued)
(iv)
Energy audit services
For energy audit services, the Group will pay the Property Managers $4,000 per chiller for the first two sets
of chiller and $2,000 for any subsequent set of chiller in a property located in Singapore (being the base
energy audit fee) and RMB10,000 per chiller in a property located in the PRC. In addition to these fees, the
Trust will pay ASPL 40.0% of the cost savings achieved in each property during the first three years after
the completion of the works in such property, subject to a maximum of $40,000 per property for properties
located in Singapore (such amount shall be inclusive of the base energy audit fee and the fees based on
the savings achieved).
(v)
Car park management services
For car park management services, the Trust will pay ASPL the following fees in relation to properties
located in Singapore:
•
in relation to the car parks located at certain 33 properties as set out in the property management
agreements (“Managed Car Parks”), a management fee of $2.16 million per annum (“Base Car Park
Fee”) and 40.0% of hourly parking collections for such car parks (excluding goods and services tax).
For the avoidance of doubt, any hourly car park rebates given to car park users will not be included
in the hourly car park collections for the computation of fees.
•
in the event that additional car parks are added or subsequently removed from the Managed Car
Parks, the Base Car Park Fee shall be adjusted as follows:
•
in relation to a property which has up to 100 car park lots – the Base Car Park Fee shall be increased
or decreased by $35 per car park lot per month multiplied by the number of car park lots in such
property.
•
in relation to a property which has more than 100 car park lots – the Base Car Park Fee shall be
increased or decreased by $25 per car park lot per month multiplied by the number of car park lots
in such property.
ACPL is not required to provide any car park management services.
.149
A-REIT ANNUAL REPORT
2015/2016
