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Q&A
What are the critical success factors for a-iTrust?
We believe that delivering the right product to our customers is of utmost
importance. That means that we always keep in mind our customers’
requirements when we design, build and maintain our IT Parks. By providing
an exciting environment flled with amenities and social activities, workers in
our parks enjoy an international business lifestyle that is found nowhere else.
Lastly, we forge enduring relationships with our customers as they know that
they can always count on us to deliver reliable services. All of these factors
combine to make our IT Parks stand out in the market.
How do you manage the currency risk on distributable income?
We hedge a-iTrust’s distributable income as we do not speculate on currency
movements. We do this by buying forward contracts on a monthly basis
to hedge a substantial portion of income that we expect to repatriate to
Singapore. A total of six forward contracts are tied to each semi-annual
repatriation of income from India to Singapore. This arrangement helps us
mitigate the risk of large currency fuctuations between the period that the
income is earned and the date that the income is repatriated.
What are the biggest opportunities you see over the next year?
We like the fact that India remains the world’s most dominant IT and business
process outsourcing hub. While the weak Indian Rupee has affected our
earnings, it lowers the cost of operating in India, and makes India an even
more compelling investment proposition for companies across the globe. This
gives us greater confdence when negotiating with tenants for the renewal of
1.8 million sq ft of leases expiring in FY14/15. We want to leverage our strong
debt fnancing and equity fund raising capabilities to capitalise on our pipeline
of attractive investment opportunities from the market, our sponsor Ascendas
Group, and aVance Business Hub in Hyderabad.
As we look ahead, we would like to
thank our fellow directors and staff for
their hard work and commitment to
a-iTrust. On behalf of the Board, we
extend a warm welcome to our new
director Mr Manohar Khiatani and
CEO-Designate Mr Sanjeev Dasgupta.
Sanjeev will succeed Jonathan as CEO
of Ascendas Property FundTrustee Pte
Ltd, theTrustee-Manager of a-iTrust, on
11 July 2014. Sanjeev, who has
extensive experience in corporate
fnance and fund management, is well
placed to lead our management team.
We also want to thank Ms Chong Siak
Ching who has relinquished her Board
position, for providing invaluable advice
and guidance to management. Lastly,
we would like to thank you, our valued
unitholders, for your continued support
for a-iTrust.
PhilipYeo
JonathanYap
Chairman
CEO
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