HSBC Institutional Trust Services (Singapore) Limited (the “Trustee”) is under a duty to take into
custody and hold the assets of CapitaRetail China Trust (the “Trust”) in trust for the Unitholders. In
accordance with the Securities and Futures Act (Cap. 289), its subsidiary legislation and the Code
on Collective Investment Schemes, the Trustee shall monitor the activities of CapitaRetail China Trust
Management Limited (the “Manager”) for compliance with the limitations imposed on the investment
and borrowing powers as set out in the Trust Deed dated 23 October 2006 (as amended by a first
supplemental deed dated 8 November 2006, a second supplemental deed dated 15 April 2010, a
third supplemental deed dated 5 April 2012 and a fourth supplemental deed dated 14 February
2014) (collectively the “Trust Deed”) between the Manager and the Trustee in each annual
accounting period and report thereon to Unitholders in an annual report.
To the best knowledge of the Trustee, the Manager has, in all material respects, managed the Trust
during the year covered by these financial statements, set out on pages 80 to 146, in accordance
with the limitations imposed on the investment and borrowing powers set out in the Trust Deed.
For and on behalf of the Trustee,
HSBC Institutional Trust Services (Singapore) Limited
Antony Wade Lewis
Director
Singapore
26 February 2015
Report of the Trustee
Year ended 31 December 2014
Delivering Performance | 77
