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CDL Hospitality TrustS
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M&C REIT Management Limited, as manager of H-REIT (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 will work closely with the master lessees to implement H-REIT’s strategies. In addition, the
H-REIT Manager will set the strategic direction of H-REIT and give recommendations to DBS Trustee Limited,
as trustee of H-REIT (the “ 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 at a good yield.
• Using its best endeavours to ensure that the business of H-REIT is carried on in a proper and efcient
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 relevant applicable laws and regulations, including the applicable
provisions of the Securities and Futures Act, Chapter 289 of Singapore, the Listing Rules issued by
Singapore Exchange Securities Trading Limited (“Listing Manual”), the Code on Collective Investment
Schemes (including the Property Funds Appendix), the conditions set out in the Capital Markets
Services Licence for REIT Management issued by the Monetary Authority of Singapore (“MAS ”), the
H-REIT Trust Deed, the tax rulings issued by the Inland Revenue Authority of Singapore on the taxation
of H-REIT and the holders of the Stapled Securities (the “ Security Holders”) 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. In addition, employees of the H-REIT Manager who are engaged in investment management, asset
management, fnancing, marketing and investor relations functions are holders of CMS representative licences.
As HBT was dormant during the year ended 31 December 2012 (“FY 2012 ”), M&C Business Trust Management
Limited, as the trustee-manager of HBT (the “HBT Trustee-Manager”) was similarly dormant for the year under
review. Accordingly, no compensation was paid to the Directors of the HBT Trustee-Manager and no executive
ofcers were employed by the HBT Trustee-Manager during the year under review.
Corporate Governance
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