Notes to the financial statements Year ended 31 December 2024 18. TOTAL UNITHOLDERS’ DISTRIBUTION Unitholders’ distribution for the year is accounted for as distribution from operations and distribution from Unitholders’ contributions: (a) Distribution from operations This refers to distribution made by the Trust that is represented by income received or receivable during the financial year, as the case may be, net of expenses. Such income comprises mainly the following: • dividend from subsidiaries in Singapore, Hong Kong and British Virgin Islands paid out of dividend declared by the subsidiaries in China; and • dividend from subsidiaries in Singapore paid out of net interest income earned by subsidiaries in Singapore on shareholders’ loans extended to subsidiaries in China; and The above income originates from income derived by the subsidiaries in China in respect of the current financial year. (b) Distribution from Unitholders’ contributions This refers to the amount of distribution made by the Trust for the financial year where the underlying cash is not, or may not be, received or receivable as income by the Trust during that period. Such distribution comprises mainly the following: • profits from operations arising from the investment properties which are declared as dividend income after the financial year, as the case may be, and accordingly also received as dividends by the Trust after that year; • profits from operations arising from the investment properties which cannot be declared as dividends; • adjustment for depreciation expenses of the investment properties; and • adjustments for trust expenses that are paid in Units, foreign currency differences attributable to net investment hedges undertaken by the Trust and certain unrealised expenses. Income available for distribution to Unitholders at end of the year Distributions are made on a semi-annual basis, with the amount calculated as at 30 June and 31 December each year for the six-month period ending on each of the said dates. In accordance with the provisions of the Trust Deed, the Manager is required to pay distributions within 90 days from the end of each distribution period. Distributions, when paid, will be in Singapore dollars. 141 Annual Report 2024
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