Investor Relations Policy

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CDL Hospitality Trusts (“CDLHT”) is a stapled group comprising CDL Hospitality Real Estate Investment Trust (“H-REIT”), a real estate investment trust, and CDL Hospitality Business Trust (“HBT”), a business trust. M&C REIT Management Limited, as manager of H-REIT (the “H-REIT Manager”) and M&C Business Trust Management Limited, as trustee-manager of HBT (the “HBT Trustee-Manager”, and together with the H-REIT Manager, the “Managers”), are committed to engaging the Group’s stapled security holders (“Stapled Securityholders”) through regular, effective and fair communication, in accordance with listing rules of the Singapore Exchange Securities Trading Limited (“SGX-ST”), the Code of Corporate Governance 2018 and current best practices.

The Investor Relations (“IR”) department serves as an intermediary between the Managers and Stapled Securityholders, the investment community and the media. Through effective information disclosure and dialogue, the Managers aim to further enhance CDLHT’s corporate transparency and maintain the trust of CDLHT’s stakeholders. In this IR Policy, references to the investment community include CDLHT's potential investors as well as analysts who review CDLHT's performance.

Policy Principles

  • CDLHT’s IR Policy outlines the principles and framework for the Managers to provide IR stakeholders with balanced, clear and pertinent information on matters pertaining to and/or affecting CDLHT, H-REIT and its subsidiaries and HBT and its subsidiaries (the “Group”).
  • In the conduct of its IR activities, the Managers will comply with all applicable securities laws and regulations.
  • All material information relating to CDLHT will be disclosed in an accurate and timely manner through SGXNET. All disclosures submitted to SGX-ST through SGXNET shall also be made available on CDLHT’s website (
  • Should there be any inadvertent disclosure of material information to a select group, the Managers shall ensure that the same information is disclosed publicly to all Stapled Securityholders as promptly as possible, through SGXNET and on CDLHT’s website.
  • This Policy is subject to regular review by the IR Department and approval by the Board of Directors of the Managers (the “Boards”).

Communications Principles

  • The Managers will communicate only through designated spokespersons who will establish and maintain regular dialogue with Stapled Securityholders to solicit and understand their views, as well as respond to queries from members of the investment community or media.
  • Employees of the Managers who are not authorised spokespersons must not respond under any circumstances to inquiries from the investment community or media, unless specifically authorised by designated senior spokespersons. Any inquiry received should be directed to the IR Department.
  • The Managers do not respond to rumours or market speculation. However, if rumours indicate that material information may have been leaked or where there are unusual market or trading activities that could be attributable to such rumours or market speculation, clarifications will be made promptly through announcements via SGXNET.
  • The Managers will provide reasonable access for analysts and the media to allow them to formulate informed opinions of CDLHT and its developments, but will not seek to influence those opinions.
  • The Managers observe a “closed period” or “blackout period” of two weeks before the date of announcement of CDLHT’s quarterly financial results and one month before the date of announcement of CDLHT’s full-year financial results. During such periods, the Managers do not comment on industry outlook nor on the Group’s business performance and financial results prior to the announcement of CDLHT’s financial results.

Communication with Stapled Securityholders and Investment Community

  • The Managers are committed to treat all Stapled Securityholders fairly and equitably, by engaging with Stapled Securityholders, the investment community and the media through various platforms, including:
    1. General meetings of H-REIT and HBT, namely the Annual General Meetings (“AGMs”) and as and when necessary, Extraordinary General Meetings (“EGMs”);
    2. Financial results announcements and results presentations announced via SGXNET and posted on CDLHT’s corporate website;
    3. Biannual analysts’ and media briefings for the half-year and full-year financial results;
    4. Meetings or conference calls to brief the analysts on major announcements including presentations by the Managers and question and answer sessions;
    5. Announcements on SGXNET in compliance with the listing rules of SGX-ST;
    6. Investors’ meetings, local / overseas roadshows and conferences;
    7. Annual reports (which also include sustainability reports);
    8. News releases and statements; and
    9. A dedicated corporate website ( which contains all information relating to CDLHT, from CDLHT’s structure to the portfolio information. All announcements, press releases and presentations issued on SGXNET will be updated on CDLHT's website as soon as practicable after their release. Stapled Securityholders and potential stakeholders have 24-hour access to CDLHT’s website for information.
  • General Meetings

  • CDLHT’s general meetings, especially the AGMs, is the principal communication platform provided for Stapled Securityholders to give them the opportunity to communicate their views and concerns, if any, concerning the Group directly to the Boards and the Managers’ senior management. The Managers encourage Stapled Securityholders to participate constructively at these meetings. The Chief Executive Officer of the Managers will also present the strategies and past-year performance of the Group at these meetings.
  • All Stapled Securityholders will be sent a copy of the notice of AGMs/EGMs, which lists all items of business to be transacted at the general meetings, within the required notice period prior to the AGMs/EGMs. Stapled Securityholders will be informed of the rules, including voting procedures that govern these general meetings.
  • The notices of AGM/EGM will also be announced via SGXNET.
  • All members of the Boards, the Managers’ key management personnel and the external auditors will endeavor to be in attendance at general meetings to address Stapled Securityholders’ queries.
  • In support of greater transparency and to allow for a more efficient voting system, the Managers conduct electronic poll voting at all general meetings whereby Stapled Securityholders present in person or represented by proxy at the meetings will be entitled to vote on a ‘one-share, one-vote’ basis. Detailed results of the votes cast for and against each resolution will be disclosed at the meetings and announced via SGXNET on the same day of the meetings. The minutes of these meetings, which include the key comments and queries raised by Stapled Securityholders and the responses from the Boards, senior management and the external auditors will be made available to Stapled Securityholders upon request.
  • All Stapled Securityholders are entitled to attend and vote at general meetings in person or by proxy. Stapled Securityholders can appoint proxies to attend, speak and vote at general meetings in their absence:
    1. Stapled Securityholders who are not relevant intermediaries may appoint not more than two proxies
    2. Stapled Securityholders who are relevant intermediaries may appoint more than two proxies
  • Investors’ Communication

  • Throughout the year, the Managers communicate with investors, analysts and the media on a regular basis through the analysts and media briefings, meetings with investors, local / overseas roadshows, conferences, and teleconferences.
  • Upon the release of the half-year and full-year financial results, the Managers will hold results briefings for analysts and members of the media.
  • The Managers will make available all financial results announcements, annual reports, SGXNET announcements, presentation materials, media releases, and other corporate information on CDLHT’s corporate website (
  • Stapled Securityholders, the investment community and the media may subscribe to an email alert service at CDLHT’s corporate website to receive regular updates on CDLHT’s corporate information and announcements.
  • Company Contacts

  • Stapled Securityholders can contact CDLHT’s Unit Registrar
    Boardroom Corporate & Advisory Services Pte Ltd
    1 Harbourfront Avenue
    Keppel Bay Tower #14-07
    Singapore 098632
    Tel: +65 6536 5355
    Fax: +65 6536 1360
  • Stapled Securityholders, the investment community and the media can contact CDLHT’s IR team by email at The main line of the Managers is +65 6664 8888 and the IR line of the Managers is +65 6664 8890. Investor-related and media-related queries can be addressed to Ms Mandy Koo, Head, Investments & Investor Relations.
  • Stapled Securityholders’ Privacy

  • The Managers recognise the importance of Stapled Securityholders' privacy and will not disclose Stapled Securityholders' information without their consent, unless required by law to do so.