with applicable provisions of the Listing Manual and the Property Funds Appendix). The internal
control procedures also ensure compliance with Chapter 9 of the Listing Manual and the Property
Funds Appendix.
In particular, the following procedures are in place:
Interested Person Transactions
1
Approving Authority,
Procedures and Disclosure
Below S$100,000 per transaction
• Trustee
S$100,000 and above per transaction (which singly, or when
aggregated with other transactions
2
with the same Interested
Person in the same financial year is less than 3.0% of CRCT’s
latest audited net tangible assets/net asset value)
• Trustee
• Audit Committee
Transaction
2
which:
(a) is equal to or exceeds 3.0% of CRCT’s latest audited net
tangible assets/net asset value; or
(b) when aggregated with other transactions
2
with the same
Interested Person in the same financial year is equal to or
exceeds 3.0% of CRCT’s latest audited net tangible
assets/net asset value
• Trustee
• Audit Committee
• Immediate announcement
Transaction
2
which:
(a) is equal to or exceeds 5.0% of CRCT’s latest audited net
tangible assets/net asset value; or
(b) when aggregated with other transactions
2
with the same
Interested Person in the same financial year is equal to or
exceeds 5.0% of CRCT’s latest audited net tangible
assets/net asset value
• Trustee
• Audit Committee
• Unitholders
• Immediate announcement
1 Excluding interested person transactions falling under the exceptions set out in Rules 915 and 916 of the Listing Manual.
2 Any transaction of less than S$100,000 in value is disregarded.
Role of the Audit Committee for Interested Person Transactions
The Manager’s internal control procedures are intended to ensure that Interested Person
Transactions are conducted at arm’s length and on normal commercial terms, and are not prejudicial
to CRCT and Unitholders’ interests.
The Manager maintains a register to record all Interested Person Transactions which are entered into
by CRCT (and the basis on which they are entered into, including the quotations obtained to support
such basis). All Interested Person Transactions are subject to regular periodic reviews by the AC,
which in turn obtains advice from CL IA, to ascertain that the guidelines and procedures established
to monitor Interested Person Transactions, including the relevant provisions of the Listing Manual and
the Property Funds Appendix, as well as any other guidelines which may from time to time be
prescribed by the SGX-ST, the MAS or other relevant authorities, have been complied with. The
review includes an examination of the nature of the transaction and its supporting documents or such
other information deemed necessary by the AC. If a member of the AC has an interest in a
transaction, he is to abstain from participating in the review and approval process in relation to that
transaction. In addition, the Trustee also reviews such audit reports to ascertain that the Listing
Manual and the Property Funds Appendix have been complied with.
Details of all Interested Person Transactions (equal to or exceeding S$100,000 each in value) entered
into by CRCT during FY 2014 are disclosed on page 147 of the Annual Report.
Corporate Governance
40 | CapitaRetail China Trust Annual Report 2014
