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46 CDL Hospitality Trusts
corporate governance
The H-REIT Manager has general powers of management over the assets of H-REIT. The H-REIT Manager’s main
responsibility is to manage H-REIT’s assets and liabilities for the beneft of the holders of H-REIT units.
The H-REIT Manager is responsible for formulating the business plans in relation to H-REIT’s properties. The H-REIT
Manager works closely with the master lessees to implement H-REIT’s strategies. In addition, the H-REIT Manager
sets the strategic direction of H-REIT and gives recommendations to H-REIT Trustee, on the acquisition, divestment
or enhancement of H-REIT’s assets in accordance with its stated investment strategy.
Other roles and responsibilities of the H-REIT Manager include:
• Managing Orchard Hotel Shopping Arcade with a view to maintaining the physical condition of the property for
the beneft of the tenants and the shoppers/patrons alike, including engaging real estate consultants to provide
leasing services in respect of the vacant shop spaces in the property with a view to maintaining high occupancy
levels.
• Using its best endeavours to carry on and conduct its business in a proper and effcient manner and to ensure
that H-REIT’s responsibilities as a lessor are carried on and conducted in a proper and effcient manner and to
conduct all transactions with or for H-REIT at arm’s length and on normal commercial terms.
• Ensuring that H-REIT complies with the applicable provisions of the Securities and Futures Act, Chapter 289 of
Singapore and all other relevant legislation, the Listing Rules issued by Singapore Exchange Securities Trading
Limited (“ Listing Manual”), the Code on Collective Investment Schemes (including the Property Funds Appendix)
and the Capital Markets Services Licence for REIT Management issued by the Monetary Authority of Singapore
(“MAS”), the H-REIT Trust Deed, the Stapling Deed dated 12 June 2006, the tax ruling issued by the Inland
Revenue Authority of Singapore on the taxation of H-REIT and the holders of the Stapled Securities and all relevant
contracts.
H-REIT, constituted as a trust, is externally managed by the H-REIT Manager and accordingly, has no personnel of its
own. The H-REIT Manager appoints experienced and well-qualifed management to run its day-to-day operations.
The H-REIT Manager, not H-REIT, remunerates all Directors and employees of the H-REIT Manager.
The H-REIT Manager holds a Capital Markets Services (“CMS ”) Licence issued by the MAS to conduct real estate
investment trust management activities as required under the licensing regime for real estate investment trust managers.