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Enhanced stability
Although a-iTrust is structured as a
business trust, we have voluntarily
adopted the following restrictions to
enhance the stability of distributions
to unitholders:
Adherence to safeguarding
provisions on allowable
investments as defned under
Monetary Authority of Singapore’s
Property Fund Appendix;
Gearing ratio capped at 40%
without credit rating and 60%
with credit rating;
Property development activities
limited to 20% ofTrust property; and
Minimum 90% of distributable
income to be distributed.
Tax-exempt distributions
Distributions made by a-iTrust, being
a registered business trust, are
exempt from Singapore income
tax in the hands of all unitholders,
i.e. regardless of whether they are
corporates or individuals, foreign
or local. Our distributions are free
of Singapore withholding tax or tax
deducted at source.
Trust management
a-iTrust is managed by Ascendas
Property Fund Trustee Pte. Ltd.
(“Trustee-Manager”), a wholly-
owned subsidiary of Ascendas
Group. The Trustee-Manager has the
dual responsibility of safeguarding
the interests of unitholders, and
managing the business of a-iTrust.
Ascendas Services (India) Private
Limited (“Property Manager”) is
responsible for managing the daily
operation and maintenance of
our properties.
It is our policy that a-iTrust
implements a consistent risk
management approach and
methodology across its entities,
recognising that risk management
is integral and essential to
achieving our strategic goals
and business outcomes.
a-iTrust has minimal direct
employees. Ascendas Property Fund
Trustee Pte. Ltd. and Ascendas
Services (India) Private Limited act
as the Trustee-Manager and Property
Manager respectively. Hence
the risk management processes
and practices will be executed by
Ascendas Property Fund Trustee
Pte. Ltd., Ascendas Services (India)
Private Limited and such other
parties providing services to a-iTrust,
for or on behalf of a-iTrust.
a-iTrust accepts, as an organisational
philosophy, that:
Management of risk is critical to
governance and forms part of
management’s responsibilities
at all levels within the Trust
(Board, senior management and,
ultimately, all staff);
Guidance for discharge of these
responsibilities will be provided
via key strategic and operational
risk management principles
applicable throughout the Trust;
and
External assistance may
be engaged periodically to
independently verify
implementation of this
policy and key risk
management principles.
Enterprise-wide risk management
process is put in place to ensure
potential risks are identifed and key
controls to mitigate these risks are
established and implemented. This
is continuously assessed, monitored
and reviewed in light of changing
circumstances and regulatory
requirements and realigned
as required.
Risk management information is
integrated throughout the different
sections of our Annual Report and
is highlighted with the logo. This
arrangement provides readers with
insights into the critical linkages
between the different risks faced
by the Trust, and the steps taken to
mitigate them as we manage our
daily operations.
Trust structure
Risk management