Page 49 - TreasuryChinaTrust

Treasury China Trust Annual Report 2010 48

STATEMENT BY THE TRUSTEE-MANAGER

In our opinion:

(a) the financial statements set out on pages 51 to 84 are drawn up so as to give a true and fair view of the state of affairs of the Group and of the Trust as at 31 December 2010 and of the results, changes in unitholders’ funds and cash flows of the Group for the period ended on that date in accordance with the provisions of the Singapore Business Trusts Act, Chapter 31A and Singapore Financial Reporting Standards; and

(b) at the date of this statement, there are reasonable grounds to believe that the Trust will be able to pay its debts as and when they fall due.

With respect to the consolidated income statement of the Group for the period ended 31 December 2010:

– Fees or charges paid or payable out of the trust property to the Trustee-Manager are in accordance with the Trust Deed dated 19 May 2010;

– Interested person transactions are not detrimental to the interests of all the unitholders as a whole based on the circumstances at the time of the transaction; and

– The Board is not aware of any violation of duties of the Trustee-Manager which would have a materially adverse effect on the business of the Trust or on the interests of all the unitholders as a whole.

The Board of Directors has, on the date of this statement, authorised these financial statements for issue.

For and on behalf of the Board of Directors of the Trustee-Manager

Richard Barrett

Director

Rory Williams

Director

Singapore 25 February 2011