We are pleased to submit this annual report to the member of the Company, together with the audited financial statements for the financial year ended 31 December 2023. In our opinion: (a) the financial statements set out on pages 326 to 343 are drawn up so as to give a true and fair view of the financial position of the Company as at 31 December 2023 and the financial performance, changes in equity of the Company, and the cash flows of the Company for the year ended on that date in accordance with the provisions of the Companies Act 1967 and Singapore Financial Reporting Standards (International); and (b) at the date of this statement, having regard to the financial support of the immediate holding company, CapitaLand Investment Limited, there are reasonable grounds to believe that the Company will be able to pay its debts as and when they fall due. The Board of Directors has, on the date of this statement, authorised these financial statements for issue. DIRECTORS The directors in office at the date of this statement are as follows: Mr Tan Beng Hai, Bob Ms Teo Joo Ling, Serena Mr Sim Juat Quee Michael Gabriel Mr Chia Kim Huat Ms Deborah Lee Siew Yin Mr Max Loh Khum Whai (Appointed on 23 November 2023) Mr Lui Chong Chee (Appointed on 1 February 2024) Mr Goh Soon Keat Kevin Ms Beh Siew Kim DIRECTORS’ INTERESTS IN SHARES OR DEBENTURES According to the register kept by the Company for the purposes of Section 164 of the Companies Act 1967 (the Act), particulars of interests of directors who held office at the end of the financial year (including those held by spouses and children) in shares, debentures, warrants and share options in the Company and in related corporations are as follows: Holdings in the name of the director, spouse and/or infant children At beginning of the year/date of appointment At end of the year Intermediate Holding Company CapitaLand Investment Limited (CLI) Ordinary shares Mr Chia Kim Huat 33,100 33,100 Mr Goh Soon Keat Kevin 708,640 989,953 Ms Beh Siew Kim 248,929 248,929 Award of CLI Performance shares1, 3 to be delivered after 2022 Mr Goh Soon Keat Kevin 333,359 – During the year, 333,359 shares were released, of which 83,340 shares were settled in cash. DIRECTORS’ STATEMENT 318 CAPITALAND ASCOTT TRUST
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