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Report of the Trustee-Manager of Treasury
China Trust
The directors of Treasury Holdings Real Estate Pte. Ltd. (“Trustee-Manager”), the Trustee-Manager of Treasury China Trust (the
“Trust”) and its subsidiaries (together referred to as the “Group”), are pleased to submit this annual report to the Unitholders
of the Trust, together with the audited financial statements for the financial year ended 31 December 2011.
Directors
The directors of the Trustee-Manager in office at the date of this report are as follows:
Richard Joseph Barrett (Chairman and Non-Executive Director)
Stuart Hamilton Leckie (Vice Chairman and Lead Independent Non-Executive Director)
Richard Anthony David (Executive Director and Chief Executive Officer)
Raymond Yeoman Frederick Horney (Independent Non-Executive Director)
Jen Shek Voon (Independent Non-Executive Director)
Dr. Tan Khee Giap (Appointed on 25 July 2011, Independent Non-Executive Director)
Rory John Williams (Non-Executive Director)
Mr Wong Fong Fui resigned as a director on 25 July 2011.
Principal activities of the Trust
The principal activity of the Trust is to own, invest in and proactively manage income-producing real estates used primarily for
office, retail, industrial/logistics purposes as well as hotels and serviced apartments located in the People’s Republic of China,
the Hong Kong Special Administrative Region and the Macau Special Administrative Region, and real estate-related assets in
relation to the foregoing. The Trust may acquire, hold or develop land, under-performing assets or uncompleted developments
to be used as commercial real estate located in Greater China, with the objective of providing proactive management solutions
to deliver maximum value that results in either the holding of the properties upon completion or the disposal of the properties
on a strategic basis to deliver strong distributable income growth.
Directors’ Interests
According to the register kept by the Trustee-Manager for the purposes of Section 76 of the Singapore Business Trusts Act,
Chapter 31A (the “Act”), particulars of interests of directors who held office at the end of the financial year in units of the
Trust are as follows:
Direct Interest in Units Deemed Interest in Units
As at
1/1/2011
As at
31/12/2011
As at
1/1/2011
As at
31/12/2011
Richard Joseph Barrett 15,649,720 15,649,720 29,127,870 29,541,770
Stuart Hamilton Leckie – – 500,000 800,000
Richard Anthony David – 276,451 210,000 –
Raymond Yeoman Frederick Horney – – 10,392,500 10,767,500
Jen Shek Voon – 82,064 55,000 –
Rory John Williams 400,000 400,000 475,000 610,000
Except as disclosed under the “Unit options” section of this report, neither at the end of, nor at any time during the financial
year, was the Trustee-Manager a party to any arrangement whose objects are, or one of whose objects is, to enable the
directors of the Trustee-Manager to acquire benefits by means of the acquisition of units in or debentures of the Trust.
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