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30 RELATED PARTIES
For the purposes of these financial statements, parties are considered to be related to the Group if the Group has the
ability, directly or indirectly, to control the party or exercise significant influence over the party in making financial and
operating decisions, or vice versa, or where the Trustee-Manager or the Group and the party are subject to common
control. Related parties may be individuals or other entities.
Other than those disclosed elsewhere in the financial statements, there were the following significant related party
transactions during the year based on agreed terms:
Year
ended
31/12/2011
Year from
19/5/2010 to
31/12/2010
$’000 $’000
Treasury Holdings Property Management (Shanghai) Co., Ltd
Rental income received/receivable 697 639
Property management fees paid/payable 3,052 2,648
Development management service fee paid/payable 1,952 –
Reimbursements 1,556 –
Treasury Holdings Real Estate Pte. Ltd.
Trustee-Manager’s fees paid/payable 15,028 6,425
Acquisition fee paid/payable 2,152 –
Reimbursements 334 –
Property management fees, Trustee-Manager’s fees and other fees are payable to subsidiaries of Treasury Holdings
China Limited which is a wholly owned subsidiary of a company that is wholly owned by significant unitholders of
Treasury China Trust.
Reimbursements to Treasury Holdings Property Management (Shanghai) Co., Ltd, the Property Manager of the Group,
comprise mainly remuneration of its personnel who render their services to the Group.
Reimbursements to Treasury Holdings Real Estate Pte. Ltd., the Trustee-Manager, comprise mainly certain employment
benefits relating to the directors of the Trustee-Manager.
SAR1112034_TCT_AR_().indb 113 3/23/2012