SEO Version
CapitaRetail China
Annual Report 2013
Clarity
94
These notes form an integral part of the financial statements.
The financial statements were authorised for issue by the Manager and the Trustee on 26 February 2014.
1
GENERAL
CapitaRetail China Trust (the “Trust”) is a Singapore–domiciled unit trust constituted pursuant to the trust
deed dated 23 October 2006 as amended by the First Supplemental Deed dated 8 November 2006, Second
Supplemental Deed dated 15 April 2010, Third Supplemental Deed dated 5 April 2012 and Fourth Supplemental Deed
dated 14 February 2014. (collectively the “Trust Deed”) between CapitaRetail China Trust Management Limited (the
“Manager”) and HSBC Institutional Trust Services (Singapore) Limited (the “Trustee”). The Trust Deed is governed by
the laws of the Republic of Singapore. The Trustee is under a duty to take into custody and hold the assets of the
Trust held by it or through its subsidiaries (collectively the “Group”) in trust for the holders (“Unitholders”) of Units in
the Trust (the “Units”).
The Trust was formally admitted to the Official List of the Singapore Exchange Securities Trading Limited (the
“SGX-ST”) on 8 December 2006 (the “Listing Date”) and was included under the Central Provident Fund (“CPF”)
Investment Scheme on 8 December 2006.
The principal activities of the Trust are those relating to investment in a diversified portfolio of income–producing
properties located primarily in the People’s Republic of China (“China”), Hong Kong and Macau and used primarily
for retail purposes.
The principal activities of the subsidiaries are those of investment holding of properties located in China and used
for retail purposes.
The Group has entered into several service agreements in relation to themanagement of the Trust and its property
operations. The fee structures for these services are as follows:
(a) Trustee’s fees
Pursuant to the Trust Deed, the Trustee’s fee shall not exceed 0.03% per annum of the value of all the assets
of the Group (“Deposited Property”), subject to a minimum of $15,000 per month, excluding out of pocket
expenses and Goods and Service Tax.
(b) Manager’s management fees
The Manager is entitled under the Trust Deed to the following management fees:
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investments which are not real estate. Where such authorised investment is an interest in a
property fund (either a real estate investment trust or private property fund) wholly managed by a
wholly-owned subsidiary of CapitaLand Limited, no authorised investment management fee shall be
payable in relation to such authorised investment.
Notes to the
Financial Statements
Year ended 31 December 2013
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