Page 136 - ar2012

CDL Hospitality TrustS
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24 Related party transactions (cont’d)
HBT H-REIT Group Stapled Group
2012 2011 2012 2011 2012 2011
Balance outstanding $’000 $’000 $’000 $’000 $’000 $’000
Shared service expenses paid/
payable to a related
corporation of the
H-REIT Manager – – 22 11 22 11
Provision of accounting
services by a related
corporation of the
H-REIT Manager – – 18 5 18 5
Rental income received/
receivable from related
corporations of the
H-REIT Manager – – 7,008 7,052 7,008 7,052
Cleaning fees paid/
payable to a related
corporation of the
H-REIT Manager – – 25 13 25 13
As at 31 December 2012, 22,023 (2011: 22,023) square feet of the lettable area of Orchard Hotel Shop-
ping Arcade was occupied by the master lessee of Orchard Hotel, which is a related corporation of the
H-REIT Manager, for no charge.
25 Financial ratios
H-REIT Group Stapled Group
2012 2011 2012 2011
% % % %
Expenses to weighted average net assets 1
- including performance
component of H-REIT
Manager’s management fees 0.91 0.99 0.91 0.99
- excluding performance
component of H-REIT
Manager’s management fees 0.46 0.53 0.46 0.53
Portfolio turnover rate 2 – – – –
1 The annualised ratios are computed in accordance with the guidelines of the Investment
Management Association of Singapore. The expenses used in the computation relate to expenses
of the H-REIT Group and the Stapled Group, excluding property expenses, interest expense and
income tax expense of each entity, where applicable.
2 The annualised ratio is computed based on the lesser of purchases or sales of underlying investment
properties of the H-REIT Group and the Stapled Group expressed as a percentage of daily average
net asset value.
Notes to the Financial Statements