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Corporate goverance report
Introduction
a-iTrust is a Business Trust constituted under the Singapore Business Trusts Act and is listed on the Main Board of SGX-ST. It
is principally regulated by:
(a) The Securities and Futures Act (“SFA”);
(b) The Business Trusts Act, Chapter 31A;
(c) The Listing Manual of SGX-ST; and
(d) The Trust Deed.
The Trust has also voluntarily adopted certain key provisions of the Code on Collective Investment Schemes (“CIS”), issued by
the Monetary Authority of Singapore (“MAS”), in particular, the Property Funds Appendix under Appendix 6 of the CIS.
a-iTrust is managed by Ascendas Property Fund Trustee Pte Ltd, the Trustee-Manager. The Trustee-Manager recognises that a
strong and effective corporate governance culture is critical to safeguard the interests of Unitholders as a whole and ensure the
success of the Trust, and is committed to the highest standards of corporate governance.
This report describes the corporate governance policies and practices that the Trustee-Manager has implemented and abides
by, with reference to the Code of Corporate Governance 2005.
Board’s conduct of affairs
The principal function of the Board of the Trustee-Manager is to oversee management of the Trust. It is the responsibility of
the Board to set corporate strategies, direct management, review and approve annual business plans, budgets, investments
and funding of the Trust. The Board also approves appointments and resignations of directors. The Board has established a
framework of prudent and effective risk management practices and internal control procedures to assess and manage business
risks and ensure compliance with applicable laws. The Board’s role includes ensuring that obligations to Unitholders are
understood and met.
The Board has delegated the day-to-day operations of the Trust to an experienced and qualifed team headed by Mr Jonathan Yap
Neng Tong, Executive Director and CEO of the Trustee-Manager. The Board is also assisted by the Audit Committee (“AC”), the
Investment Committee (“IC”), the Nominating Committee (“NC”) and Human Resource and Remuneration Committee (“HRRC”).
The Board meets at least fve times a year to discuss and review the key activities, strategies, policies, potential acquisitions and
fnancial performance of the Trust, including approving the quarterly and full-year fnancial results. As and when necessary, Board
meetings are also supplemented by resolutions circulated to the Directors for decisions. A record of the Directors’ attendance at
Board and Committees meetings for FY2011/2012 is shown below:
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