Risk
Management
Investor Relations
and Communications
The Manager has put in place
an enterprise risk management
framework for Starhill Global
REIT, comprising procedures and
protocol to identify and initiate
mitigation of enterprise risks which
may arise in the management and
operations of Starhill Global REIT,
particularly in the areas of asset
acquisitions, asset integration,
financial risk management, and
workplace safety and health.
To address each of these areas,
the Manager has adopted policies
and/or hired or designated staff
with specific expertise in that
area, and continues to assess the
potential impact of risks which may
arise and the necessary response
or process to effectively mitigate
those risks.
ASSET ACQUISITION PROCESS
Prior to any new acquisition, each
of the key risks attributable to
the acquisition or the subsequent
management of the asset is
assessed. Functional heads in the
Manager are responsible for this
process. The Board is made aware
of all key risks considered and that
these have been addressed or
mitigated appropriately.
ASSET INTEGRATION
PROCESS
Following every successful
acquisition, it is imperative that
each asset is quickly integrated
into Starhill Global REIT’s existing
portfolio, from financial, operational
and compliance perspectives.
This process is activated before
the closing of each acquisition,
and completed as soon as
practicable thereafter.
WORKPLACE SAFETY
AND HEALTH
The Manager complies in all
material respects with the
Singapore’s Workplace Safety
and Health Act. We have also put
in place appropriate fire safety
practices for the Singapore assets
of Starhill Global REIT.
Starhill Global REIT keeps Unitholders
and the financial community
abreast of its latest developments
and strategic direction through
equitable, timely and effective
communications. The Manager
employs communications channels
such as announcements, press
releases, briefing sessions, investor
presentations, annual reports, the
corporate video, corporate website
and emails to disseminate and share
information on its financial and
operational performance, business
plans and latest developments.
The Manager is active in engaging
investors and analysts through regular
meetings, property tours and attending
conferences both locally and overseas
throughout the year. In FY 2014/15, the
Manager participated in a number of
investor conferences and roadshows
in Singapore, Hong Kong, Japan,
Malaysia, United Kingdom and the
United States. In May 2015, a site visit
FINANCIAL RISK
MANAGEMENT POLICY
Starhill Global REIT’s returns are
primarily from net operating
income and capital appreciation of
its assets. However, these returns
are exposed to financial risks
including credit, liquidity, interest
rates and foreign currency risks.
Where appropriate, the Manager
may hedge against the volatility
of interest rates, foreign currency
net income and foreign currency
investments. Starhill Global REIT
has a system of controls in place
to create an acceptable balance
between the cost of the financial
risks occurring and the cost of
managing these risks. The Manager
continuously monitors the Group’s
financial risk management process
to ensure that an appropriate
balance between risk and
control is achieved. Financial risk
management policies and systems
are reviewed regularly to reflect
changes in market conditions and
Starhill Global REIT’s activities.
The policies contain the parameters
and processes for managing
these risks, and define the roles
and responsibilities of those who
manage the process. For more
information on financial risk
management, please refer to pages
120 to 124 of this Annual Report.
BUSINESS CONTINUITY
PLANNING
The Manager has developed a
plan to address the impact and
recovery of unforeseen disruptions
or emergency circumstances to its
business and operations. Key areas
such as information technology,
finance, regulatory compliance,
vital record storage and recovery
are addressed, to ensure smooth
continuation of the Manager’s and
the Property Manager’s essential
business operations, in the event of
a major disruption or contingency.
to the recently acquired Myer Centre
Adelaide was conducted for media and
analysts. As at 30 June 2015, Starhill
Global REIT is covered by a total of
11 research houses.
The Manager continues to be
proactive in reaching out to
Unitholders, prospective investors
and analysts. It continues to be
committed to the provision of
accurate information to the investing
public in a timely manner.
RESEARCH COVERAGE
CIMB Research
Daiwa Securities Capital Markets
DBS Vickers Research
Macquarie Capital Securities
Maybank Kim Eng Research
OCBC Securities
Phillip Securities
Religare Capital Markets
RHB Research
UBS Investment Research
UOB Kay Hian Research
OPERATIONAL RISK SELF
ASSESSMENTS (ORSA)
The Manager has an ORSA
protocol to ensure a regular review
and assessment of the internal
processes which have been
implemented under the enterprise
risk management framework.
The Manager periodically conducts
ORSA to assess the key risks and
controls identified. This process
also ensures that adequate
resources are allocated to
mitigate these risks.
RISK REPORTING
The Manager actively assesses
and manages legal and compliance
risks for Starhill Global REIT.
Such risks may arise in each of
the various jurisdictions Starhill
Global REIT has assets located in,
with the application of different
laws and regulatory requirements,
the enforceability of counterparty
obligations and/or in the process
of appropriately documenting all
contractual agreements. Quarterly
reports are made to the Manager’s
Audit Committee (on an exceptions
basis), and the Board is regularly
updated on all such matters.
WHISTLE BLOWING POLICY
The Board has established a
whistle blowing policy, pursuant
to which employees and any
other persons may, in confidence,
raise concerns about potential or
actual improprieties in financial
or other operational matters,
so as to facilitate independent
investigations of such matters and
ensure that appropriate remedial
and follow-up action is taken.
On an ongoing basis, the whistle
blowing policy is covered during
staff orientation to promote
fraud awareness.
FY 2014/15 INVESTOR RELATIONS
ACTIVITIES
1Q FY 2014/15
Release of FY 2013 financial results and
analysts’ results briefing
Release of FY 2013 Annual Report
Post-FY 2013 financial results investors’
lunch hosted by Maybank
Maybank Non-Deal Roadshow,
Kuala Lumpur
2Q FY 2014/15
Release of 1Q FY 2014/15 financial results
Post-1Q FY 2014/15 financial results
investors’ lunch hosted by UBS
Annual General Meeting
DBS Vickers Securities The Pulse
of Asia Conference, New York and
San Francisco
Maybank Invest ASEAN 2014 Conference,
Singapore
Maybank Non-Deal Roadshow, Boston
and New York
UBS Non-Deal Roadshow, London
3Q FY 2014/15
Release of 2Q FY 2014/15 financial results
and analysts’ results briefing
Post-2Q FY 2014/15 financial results
investors’ lunch hosted by Macquarie
DBS Pulse of Asia Conference, Singapore
Macquarie ASEAN Conference 2014,
Singapore
UBS ASEAN Conference 2014, Singapore
Daiwa Non-Deal Roadshow, Tokyo
Macquarie Non-Deal Roadshow,
Hong Kong
4Q FY 2014/15
Release of 3Q FY 2014/15 financial results
Post-3Q FY 2014/15 financial results
investors’ lunch hosted by DBS
Morgan Stanley 13th Annual Asia Pacific
Summit, Singapore
5Q FY 2014/15
Release of 4Q FY 2014/15 financial results
and analysts’ results briefing
Post-4Q FY 2014/15 financial results
investors’ lunch hosted by RHB Research
JP Morgan Asia Pacific Real Estate
Conference, Singapore
6Q FY 2014/15
Release of 5Q FY 2014/15 financial results
Post-5Q FY 2014/15 financial results
investors’ lunch hosted by CIMB
Media and analysts’ site visit to
Myer Centre Adelaide
Macquarie Non-Deal Roadshow, Tokyo
Citi Asia-Pacific Property Conference,
Hong Kong
UNITHOLDERS’ ENQUIRIES
If you have any enquiries or would like to find out more about
Starhill Global REIT, please contact:
THE MANAGER
YTL Starhill Global REIT Management Limited
391B Orchard Road
#21-08 Ngee Ann City Tower B
Singapore 238874
Phone: +65 6835 8633
Fax: +65 6835 8644
Email:
Website:
THE UNIT REGISTRAR
Boardroom Corporate & Advisory Services Pte. Ltd.
50 Raffles Place
#32-01 Singapore Land Tower
Singapore 048623
Phone: +65 6536 5355
Fax: +65 6438 8710
Website:
For depository-related matters such as change of details
pertaining to Unitholders’ investment records, please contact:
UNITHOLDER DEPOSITORY
The Central Depository (Pte) Limited
9 North Buona Vista Drive
#01-19/20 The Metropolis
Singapore 138588
Phone: +65 6535 7511
Fax: +65 6535 0775
Email:
Website: www1.cdp.sgx.com
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STARHILL
GLOBAL
REIT
Annual
Report
FY 2014/15
