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Based on the internal controls established and maintained
within the Trust and its subsidiaries, work performed by
the internal and external auditors, and reviews performed
by Management, various Board Committees and the
Board, the Audit Committee and the Board are of the
opinion that the internal controls addressing fnancial,
operational, compliance and information technology risks
of the Trust and its subsidiaries were adequate as at 31
March 2014.
Communication with unitholders
The Trustee-Manager is committed to open and regular
communication with the investment community, in
particular, with its Unitholders. Quarterly results with
detailed fnancial and operational metrics are publicly
available on the Trust’s and SGX-ST’s websites. The Trust’s
website contains fnancial information, annual reports,
investor presentation slides, distribution notices, press
releases and other material information which have been
uploaded on the SGX-ST’s website.
Investor relations matters are handled by Management.
Management meets with analysts and institutional
investors regularly to promote the Trust, communicate
its business performance and developments, and gather
views and feedback. Management participates in local
and overseas conferences organised by securities houses
and banks. Management also addresses queries raised
by individual Unitholders via phone calls, emails or the
website. Such regular interactions allow Management
to consider feedback from the investment community
before formulating capital management strategies and
Unitholders’ resolutions. An investor relations policy has
been put in place as part of Management’s commitment
to provide timely and transparent information to the
investment community.
Conduct of Unitholders’ meetings
For the forthcoming AGM, the Board will be in attendance
to address Unitholders’ queries. EY, the external auditor
for the Trust, has also been invited to attend the AGM
and assist directors in addressing queries from
Unitholders relating to the conduct of the audit and
the preparation and content of the audited fnancial
statements of the Trust.
The Board fully supports Unitholders’ participation at
AGMs. A registered Unitholder may appoint a proxy to
attend and vote, or may vote in absentia by facsimile.
The Trustee-Manager had employed electronic poll voting
since the AGM in 2012. It also promptly issues a detailed
announcement of the poll results (both in absolute
numbers and percentages of votes cast for and against
a resolution) on SGX-ST’s website after the close of
the AGM.
The Trustee-Manager has decided not to allow
corporations providing custodial or nominee shareholding
services to appoint more than two proxies as it would be
logistically challenging to do so.
The Company Secretary prepares minutes of Unitholders’
meetings, which incorporate substantial comments
or queries from Unitholders and responses from the
Board and Management. These minutes are available to
Unitholders upon request in writing.
Dealings in units
The Trust has adopted a trading policy based on SGX-
ST’s best practices on dealings in securities. Directors
and employees of the Trustee-Manager and relevant
employees of the Trustee-Manager’s related corporations
have been informed about the prohibition from dealing in
the Units as follows:
during the period commencing one month before
the public announcement of the Trust’s annual
fnancial results and two weeks before the public
announcement of the Trust’s quarterly fnancial results,
and ending on the date of announcement of the
relevant results; and
at any time while in possession of price sensitive
information.
The policy also discourages trading on short-term
considerations.
Each director of the Trustee-Manager is required to
give notice in writing to the Trustee-Manager of his/her
acquisition of Units or changes to the number of Units
held in his/her interests, within two business days after
such director is appointed or upon the occurrence of any
of the aforesaid events.
All dealings in Units by directors will be announced via
SGXNET, with the announcement to be posted on the
internet on SGX-ST’s website and the Trust’s website.
http://www.sgx.com
http://www.a-itrust.com
In addition, the Trustee-Manager will announce to the
SGX-ST the particulars of its holdings in the Units and any
changes thereto, by the end of the business day following
the day on which it acquires or disposes of any Units.