185
Annual Report 2015
29 RELATED PARTY TRANSACTIONS
The H-REIT Manager and the master lessees of Orchard Hotel, Grand Copthorne Waterfront Hotel, M Hotel, Copthorne
King’s Hotel and Studio M Hotel are indirect wholly-owned subsidiaries of a substantial holder of the Stapled Securities
in the Stapled Group.
In the normal course of the operations of H-REIT, the H-REIT Manager’s management and acquisition fees and H-REIT
Trustee’s fee have been paid or are payable to the H-REIT Manager and H-REIT Trustee respectively.
In the normal course of the operations of HBT, the HBT Trustee-Manager’s trustee, management and acquisition fees
have been paid or are payable to the HBT Trustee-Manager.
During the financial year, other than the transactions disclosed elsewhere in the financial statements, there were the
following related party transactions:
HBT Group
H-REIT Group
Stapled Group
2015
2014
2015
2014
2015
2014
$’000
$’000
$’000
$’000
$’000
$’000
Transaction value
Shared service expenses
paid/payable to
a related corporation of the
H-REIT Manager
–
–
53
103
53
103
Provision of accounting, IT
and HR services by a
related corporation of the
H-REIT Manager
40
–
143
106
183
106
Rental expense paid/payable to a
related corporation of the
H-REIT Manager
–
–
755
755
755
755
Rental income received/receivable
from related corporations of the
H-REIT Manager
–
–
75,517
82,254
75,517
82,254
Provision of internal audit services
by a related corporation of the
H-REIT manager
–
–
30
20
30
20
Provision of corporate secretarial
services by a related corporation
of the H-REIT Manager/
HBT Trustee- Manager
40
16
99
64
139
80
Balance outstanding
Shared service expenses paid/
payable to a related corporation
of the H-REIT Manager
–
–
6
16
6
16
Provision of accounting, IT and HR
services by a related corporation
of the H-REIT Manager
–
–
–
27
–
27
Rental income received/receivable
from related corporations of the
H-REIT Manager
–
–
6,073
6,728
6,073
6,728
Provision of internal audit services
by a related corporation of the
H-REIT Manager
–
–
–
21
–
21
NOTES TO THE FINANCIAL STATEMENTS
