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OTHERS
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RELATED PARTY TRANSACTIONS BETWEEN STARHILL GLOBAL REIT AND RELATED PARTIES
Name of related party
Aggregate value of related party
transactions during the financial
period under review
(excluding transactions less than
S$100,000
(9)
and transactions
conducted under unitholders’
mandate pursuant to Rule 920)
Aggregate value of related party
transactions during the financial
period under review under
unitholders’ mandate
pursuant to Rule 920
(excluding transactions less
than S$100,000)
S$’000
S$’000
HSBC Institutional Trust Services (Singapore) Limited
Trustee fees
(3)
487
–
YTL Corporation Berhad and its subsidiaries and associates
Management fees
(1)(3)
and reimbursements
(2)(3)
15,289
–
Property management fees and reimbursements
(7)
5,732
–
Managing agent and ancillary service fees
(4)
2,133
–
Rental income
(5)
3,036
–
Servicer fees
(3)
842
–
Divestment fee
(3)(6)
25
–
Asset redevelopment fee
(8)
6,449
–
Total
33,993
–
Notes:
(1)
The Manager has elected to receive 100% of its base management fees in cash during the year ended 30 June 2017.
(2)
Relates to the non-deal road show expenses of approximately S$33,000 paid to the Manager during the year ended 30 June 2017.
(3)
The fees and charges payable by Starhill Global REIT under the Starhill Global REIT Trust Deed dated 8 August 2005 (as amended) are deemed to have been specifically
approved by Unitholders upon subscription of Units and are therefore not subject to Rules 905 and 906 of the SGX-ST listing manual to the extent that there is no subsequent
change to the fees (or the basis of determining the fees) charged under the trust deed, which will adversely affect Starhill Global REIT. In addition, the entry into the Servicer
Agreement dated 6 May 2010 in relation to the acquisition of Starhill Gallery and Lot 10 Property was approved by Unitholders at the extraordinary general meeting held on
4 June 2010 and the servicer fees payable thereunder will not be subject to Rules 905 and 906 of the SGX-ST listing manual, to the extent that there is no subsequent change
to the rates for such fees.
(4)
Relates to the total contract sum entered into during the year ended 30 June 2017 in relation to the common property of Wisma Atria.
(5)
Rental income is for the entire period of the lease.
(6)
Comprises divestment fee paid to the Manager of 0.5% of the sale price of the divestment of Harajuku Secondo during the year ended 30 June 2017, details of which are
contained in the Manager’s announcement dated 15 May 2017.
(7)
The total estimated fees and charges payable under the Ngee Ann City property management agreement and the Wisma Atria property management agreement (both
dated 17 August 2005, as amended) for the extended term of five years from 20 September 2015 was aggregated for purposes of Rules 905 and 906 of the SGX-ST listing
manual during the financial period of 18 months ended 30 June 2015 and accordingly, such fees and charges will not be subject to aggregation in subsequent financial years,
to the extent that there is no subsequent change to the rates and/or basis of determining such fees and charges.
(8)
Relates to the appointment of YTL Land Sdn Bhd as contractor for the rejuvenation of the Lot 10 Property.
(9)
Save for the divestment fee.
Additional
information