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1 DOMICILE AND ACTIVITY (CONTINUED)
Manager’s fee (Continued)
Other fees (Continued)
Development management fee:
5.0% of the total costs of development (excluding cost of land, interest on capital cost or development loans during
the development period and the cost of money required to carry out the development) for any development, re-
development, refurbishment, retrofitting, addition and alteration or renovation works to the relevant property and to
be paid quarterly.
Lease management fee:
1.0% of the monthly gross revenue of the relevant property and to be paid monthly.
General management services fee:
20.0% of the apportioned remuneration cost which is incurred and reimbursable to the Property Manager in respect
of the centralised team of personnel of the Property Manager providing general management services in respect of
the relevant property and to be paid monthly.
Marketing services commission:
— 1 month’s base rent and amenities income for every lease with a duration of less than one year;
— 1.5 months’ base rent and amenities income for every lease with a duration of between one and two and one-
half years;
— 2 months’ base rent and amenities income for every lease with a duration of more than two and one-half years
but less than 10 years;
— 2.0% of the total base rent and amenities income for the entire lease period for every lease with a duration
exceeding 10 years; and
— 2.0% of the sale price in the case of a strata-sale of any part or parcel of any property.
The lease period described under “marketing services commission” above refers to the initial lease period and excludes
any renewal periods. Renewal of an existing lease will be calculated at half of the above marketing services commission
otherwise payable for a new tenancy, and for the net renewal period. The marketing services commission will be subject
to a mark-up of 20.0% if the services of a third-party agent are utilised.
2 BASIS OF PREPARATION
(a) Statement of compliance
The financial statements have been prepared in accordance with the provisions of the Singapore Business Trusts
Act, Chapter 31A (the Act) and the Singapore Financial Reporting Standards (“FRS”).
SAR1112034_TCT_AR_().indb 67 3/23/2012