218
Ascott Residence Trust
Annual Report 2015
Additional Information
Interested Person (as defined in the listing manual) and
Interested Party (as defined in the Property Funds Appendix) Transactions
The transactions entered into during the financial year are as follow:
Name of Interested Persons
Aggregate value
(1)
of all
interested person/party
transactions during the
financial year under review
(excluding transactions
less than S$100,000 and
transactions conducted
under Unitholders’
mandate pursuant
to rule 920)
S$’000
Aggregate value
(1)
of all
interested person/party
transactions during the
financial year under review
under Unitholder’s mandate
pursuant to rule 920
(excluding transactions
less than S$100,000)
S$’000
Capitaland Limited and its subsidiaries
Acquisition of interests in three serviced residence
properties and four rental housing properties
246,000
(2)
–
Serviced residence management fees
94,268
(3)
–
Manager’s management fees
24,363
–
Acquisition fees
6,311
–
Asset management fees
2,196
(4)
–
Divestment fees
389
–
Project management fee
212
–
DBS Trustee Limited
Trustee’s fees
436
–
Total
374,175
–
(1)
The aggregate value is for the contract period.
(2)
This had been approved by unitholders at Extraordinary General Meeting held on 24 July 2015.
(3)
S$40.7 million had been approved by unitholders at Extraordinary General Meeting held on 24 July 2015.
(4)
S$0.8 million had been approved by unitholders at Extraordinary General Meeting held on 24 July 2015.
Operating Expenses and Taxation
According to disclosure requirements under paragraph 11.1 item (i) of the Appendix 6 to Code on Collective
Investment Scheme, the total operating expenses (comprising direct expenses and all fees paid to the Manager
and interested parties) incurred by Ascott Reit in FY 2015 was S$242.3 million. This translates to 11.1% of the
property fund’s net asset value as at 31 December 2015. Taxation incurred was S$36.8 million.