Page 91 - Report_to_Unitholders_2012

Notes to the Financial Statements
1. General (Cont'd)
(c) Property management fees
Under the property management agreements in respect of each property, the property managers will
provide lease management services, property tax services and marketing co-ordination services in relation
to that property. The property managers are entitled to the following fees:
• 2.0% per annum of the gross revenue;
• 2.0% per annum of the net property income; and
• 0.5% per annum of the net property income in lieu of leasing commissions otherwise payable to
the property managers and/or third party agents.
(d) Acquisition fee
For any authorised investment acquired from time to time by the Trustee on behalf of the Trust, the
acquisition fee payable to the Manager shall be:
• up to 1.5% of the purchase price in the case of any authorised investment (as defined in the Trust
Deed) acquired by the Trust for less than $200 million; and
• 1.0% of the purchase price in the case of any authorised investment acquired by the Trust for $200
million or more.
The acquisition fee payable in respect of any authorised investment acquired from time to time by the
Trustee on behalf of the Trust from CapitaMalls China Income Fund, CapitaMalls China Development
Fund II, CapitaMalls China Development Fund III, CapitaMalls China Incubator Fund or CapitaMalls Asia
Limited shall be 1.0% of the purchase price paid by the Trust.
No acquisition fee was payable for the acquisition of the initial property portfolio of the Trust.
The acquisition fee is payable to the Manager in the form of cash and/or Units (as the Manager may
elect) at the prevailing market price provided that in respect of any acquisition of real estate assets from
interested parties, such a fee should, if required by the applicable laws, rules and/or regulations, be in
the form of Units issued by the Trust at prevailing market price(s) and subject to such transfer restrictions
as may be imposed.
Any payment to third party agents or brokers in connection with the acquisition of any authorised
investments for the Trust shall be paid by the Manager to such persons out of the deposited property of
the Trust or the assets of the relevant special purpose vehicle, and not out of the acquisition fee received
or to be received by the Manager.
(e) Divestment fee
The Manager is entitled to receive a divestment fee of 0.5% of the sale price of any authorised investment
disposed directly or indirectly by the Trust, prorated if applicable to the proportion of the Trust’s interest.
The divestment fee is payable to the Manager in the form of cash and/or Units (as the Manager may elect)
at the prevailing market price provided that in respect of any divestment of real estate assets to interested
parties, such a fee should, if required by the applicable laws, rules and/or regulations, be in the form of
Units issued by the Trust at prevailing market price(s) and subject to such transfer restrictions as may
be imposed.
CapitaRETAIL china trust | Report to UNITHOLDERS 2012 89