Business Continuity Management The Managers have established a Business Continuity Management System (BCMS) and are committed to maintaining resilience in our business operations and minimising the impact of potential disruptions on our employees, stakeholders and businesses. The BCMS aims to protect our key stakeholders, data, assets and business activities by embedding business continuity practices in our operations. It outlines clear governance structures, roles and responsibilities, and fostering a resilient culture through training and awareness programmes. Business continuity plans, such as Crisis Management Plan and IT Disaster Recovery Plan, are in place to respond and recover from crises. Regular exercises and continuous improvement reviews are carried out to maintain BCMS’ effectiveness and relevance. Anti-Money Laundering and Countering the Financing of Terrorism Measures As a holder of a Capital Markets Services Licence issued by MAS, the REIT Manager abides by the MAS’ guidelines on the prevention of money laundering and countering the financing of terrorism. Under these guidelines, the main obligations of the REIT Manager are: (a) evaluation of risk; (b) customer due diligence; (c) suspicious transaction reporting; (d) record keeping; (e) employee and CMSL Representative screening; and (f) training. The Managers have a policy on the prevention of money laundering and terrorism financing which includes enhanced due diligence checks on counterparties where suspicions of money laundering or terrorism financing arise and reporting of suspicious transactions to the Commercial Affairs Department (Suspicious Transaction Reporting Office). Under this policy, all relevant records or documents relating to business relations with the Stapled Group’s customers or transactions entered into must be retained for a period of at least five years following the termination of such business relations or the completion of such transactions. All prospective employees, officers and CMSL Representatives of the REIT Manager are also screened against various money laundering and terrorism financing information sources and lists of designated entities and individuals provided by MAS. Periodic training is provided to its Directors, employees and CMSL Representatives to ensure that they are updated on applicable regulations, prevailing techniques and trends and the REIT Manager’s measures to combat money laundering and terrorism financing. Global Sanctions Compliance The Managers have a policy to comply with the applicable sanctions laws and regulations of Singapore and the United Nations. The policy sets out the sanctions risk appetite and the risk management framework to help Directors, employees and third parties identify areas where breaches of applicable sanctions laws may arise and support them in making the right decisions in line with the corporate position, establishing a consistent approach for the Managers’ response to sanctions laws and regulations. STATEMENT OF POLICIES AND PRACTICES OF CAPITALAND ASCOTT BT Apart from the corporate governance practices disclosed above, the Trustee-Manager has prepared a statement of policies and practices in relation to the management and governance of CapitaLand Ascott BT (as described in section 87(1) of the Business Trusts Act 2004) in respect of the financial year ended 31 December 2024 (FY 2024), which is set out on pages 93 to 98 of this Annual Report. 91 Annual Report 2024
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