189
Annual Report 2015
Interested Person Transactions as defined in the Listing Manual of Singapore Exchange Securities Trading Limited and Related
Party Transactions (also ‘interested party transactions’) pursuant to the Property Funds Appendix for real estate investment
trusts issued by the Monetary Authority of Singapore and Business Trusts Act respectively are listed below.
Aggregate value of all
Interested Person and/or
Related Party Transactions
during the financial year
under review
Name of Interested Persons/Related Parties
(excluding transactions less than $100,000)
Republic Hotels & Resorts Limited
$27,549,855
- Rental income in relation to Copthorne King’s Hotel and
Grand Copthorne Waterfront Hotel
- Rental income in relation to Waterfront Conference Centre
(1)
$755,244
City Hotels Pte. Ltd.
- Rental income in relation to Orchard Hotel Singapore
$24,127,633
Harbour View Hotel Pte. Ltd.
- Rental income in relation to M Hotel
$15,089,923
City Century Pte. Ltd.
- Rental income in relation to units at Claymore Connect
$1,431,411
City Developments Limited
- Rental expense in relation to Waterfront Conference Centre
(1)
$755,244
- Corporate secretarial services fees
$138,838
Republic Iconic Hotel Pte. Ltd.
- Rental income in relation to Studio M Hotel
$7,809,770
Millennium & Copthorne International Limited
- Accounting, internal audit, IT and HR function expense for outsourced services
$173,223
Notes:
(1)
This relates to a lease agreement with City Developments Limited ("
CDL
") for the lease of the second level of Waterfront Plaza
which comprises the Waterfront Conference Centre which H-REIT has sub-let to Republic Hotels & Resorts Limited ("
RHRL
").
Rental income received from RHRL is thereafter paid to CDL as rental expense.
Except as disclosed above, there were no additional interested person/related party transactions (excluding transactions of
less than $100,000 each and/or transactions collectively described as "
Exempted Agreements
") entered into during the
financial year under review.
INTERESTED PERSON TRANSACTIONS/
RELATED PARTY TRANSACTIONS
