193 / 212
REPORTS
29 RELATED PARTY TRANSACTIONS (CONT’D)
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
2016
2015
2016
2015
2016
2015
$’000
$’000
$’000
$’000
$’000
$’000
Related corporations of the
H-REIT Manager and
HBT Trustee-Manager
Rental income received/receivable
–
–
74,633 75,517 74,633 75,517
Rental expense paid/payable
–
–
855
755
855
755
Shared service expenses paid/
payable
–
–
293
53
293
53
Accounting, information
technology and human
resources service fee paid/
payable
–
40
–
143
–
183
Internal audit services fee paid/
payable
–
–
–
30
–
30
Corporate secretarial services fee
paid/payable
44
40
94
99
138
139
30 FINANCIAL RATIOS
H-REIT Group
Stapled Group
2016
2015
2016
2015
%
%
%
%
Expenses to weighted average net assets
(1)
- including performance component of H-REIT Manager’s
management fees
(2)
0.96
0.94
1.01
1.23
- excluding performance component of H-REIT Manager’s
management fees
(2)
0.55
0.52
0.57
0.81
Portfolio turnover rate
(3)
–
–
–
–
(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)
Excluding acquisition fee and costs associated with the acquisition of a subsidiary.
(3)
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
191
Annual Report 2016