106
Ascott Residence Trust
Annual Report 2015
DBS Trustee Limited (the “Trustee”) is under a duty to take into custody and hold the assets of Ascott Residence
Trust (the “Trust”) held by it or through its subsidiaries in trust for the holders (“Unitholders”) of units in the Trust
(the “Units”). In accordance with the Securities and Futures Act, Chapter 289 of Singapore, its subsidiary legislation
and the Code on Collective Investment Schemes, the Trustee shall monitor the activities of Ascott Residence Trust
Management Limited (the “Manager”) for compliance with the limitations imposed on the investment and borrowing
powers as set out in the trust deed dated 19 January 2006 (as amended) (the “Trust Deed”) between the Manager
and the Trustee in each annual accounting period and report thereon to Unitholders in an annual report.
To the best knowledge of the Trustee, the Manager has, in all material respects, managed the Trust and its subsidiaries
(the “Group”) during the year covered by these financial statements, set out on pages 109 to 217 in accordance
with the limitations imposed on the investment and borrowing powers set out in the Trust Deed.
For and on behalf of the Trustee,
DBS Trustee Limited
Soh Ee Fong
Director
Singapore
25 February 2016
Report of the Trustee
