NOTES TO THE
FINANCIAL STATEMENTS
Year ended 31 December 2014
13 UNITS IN ISSUE (CONT’D)
The restrictions of a Unitholder include the following:
•
a Unitholder’s right is limited to the right to require due administration of the Trust in accordance with the
provisions of the Trust Deed; and
•
a Unitholder has no right to request the Manager to repurchase or redeem his units while the units are listed
on the SGX-ST and/or any other recognised stock exchange.
A Unitholder’s liability is limited to the amount paid or payable for any unit in the Trust. The provisions of the Trust
Deed provide that if the issue price of the units held by a Unitholder has been fully paid, no such Unitholder will be
personally liable to indemnify the Trustee or any creditor of the Trustee in the event that the liabilities of the Trust
exceed its assets.
14 GROSS REVENUE
Group
Trust
2014
2013
2014
2013
$’000
$’000
$’000
$’000
Property rental income
100,242
93,517
63,294
60,953
Dividend income
–
–
16,202
14,189
Other income
140
176
–
47
100,382
93,693
79,496
75,189
15 PROPERTY EXPENSES
Group
Trust
2014
2013
2014
2013
$’000
$’000
$’000
$’000
Operations and maintenance expenditure
4,013
3,812
3,118
3,084
Property tax
2,160
1,812
–
–
Property and lease management fees
17
14
–
–
Land rental
384
415
–
–
Others
33
41
–
–
6,607
6,094
3,118
3,084
16 MANAGEMENT FEES
Group
Trust
2014
2013
2014
2013
$’000
$’000
$’000
$’000
Base fees
4,731
4,411
4,731
4,411
Performance fees
4,220
3,942
4,220
3,942
Divestment fees
–
–
438
–
Asset management fees
1,100
1,023
–
–
10,051
9,376
9,389
8,353
128
PA R K WAY L I F E R E I T
