ASCENDAS india trust ANNUAL REPORT 2014/15
The Board of Directors of Ascendas Property Fund Trustee Pte. Ltd. as Trustee-Manager (the “Trustee-Manager”) of Ascendas India
Trust (the “Trust”) is responsible for safeguarding the interests of the Unitholders as a whole and managing the business of the
Trust. The Trustee-Manager has general power of management over the business and assets of the Trust and its main responsibility
is to manage the Trust’s assets and liabilities for the benefit of the Unitholders as a whole. In the event of a conflict between the
interests of the Unitholders as a whole and its own interests, the Trustee-Manager will give priority to the interests of the Unitholders
as a whole over its own interests.
The Board of the Trustee-Manager (“Board”), in exercising its power and carrying out its duties as Trustee-Manager of Trust, has
put in place measures to ensure that the following are met:
• The property of the Trust is properly accounted for and is kept distinct from the property held by Trustee-Manager in its own
capacity;
• Adherence with the business scope of the Trust as set out in the Trust Deed;
• Potential conflicts between the interests of the Trustee-Manager and the interests of the Unitholders of the Trust as a whole
are appropriately managed;
• Interested person transactions are transparent, properly recorded and reviewed;
• Expenses and cost allocations payable to the Trustee-Manager out of the property of the Trust, and that fees and expenses
charged to the Trust are appropriate and in accordance with the Trust Deed; and
• Compliance with the Business Trusts Act and with the Listing Rules of Singapore Exchange Securities Trading Ltd.
Trust Property Properly Accounted For
Towards ensuring that the property of the Trust is properly accounted for and is kept distinct from the property held by the
Trustee-Manager in its own capacity, the accounting records of the Trust are kept by a team of accounting professionals separate
from the team that keeps the accounting records of the Trustee-Manager.
Adherence To Business Scope
The Trust is established to invest in real estate (which may be by way of direct ownership of real estate or by way of holding
shares or units or interests in special purpose vehicles), real estate related assets and/or such other authorised investments and the
Trustee-Manager manages the property of the Trust so that the principal investments of the Trust are real estate. The Investment
Committee (“IC”) assists the Board in ensuring adherence to the business scope. The responsibilities of the IC are set out in the
Corporate Governance Report.
S t a t e m e n t o n P o l i c i e s a n d P r a c t i c e s
In Relation to the Management and Governance of the Trust Pursuant to Section 87 of the Business Trusts Act, Chapter 31A of Singapore
