Overview
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 defined under Monetary Authority
of Singapore’s Property Fund Guidelines;
• Gearing ratio capped at 40% without credit rating
and 60% with credit rating;
• Property development activities limited to 20%
of Trust 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.
Asset and Property 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 conducted by a-iTrust.
Ascendas Services (India) Private Limited
(“Property Manager”) is responsible for
managing the daily operations and maintenance
of our properties.
Risk management
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 review key risk management principles.
Enterprise-wide risk management process is put in
place to ensure potential risks are identified 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 provides readers with insights into the critical
linkages between the different risks faced by the
Trust, and the key measures taken to mitigate them
as we manage our daily operations.
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