DEALINGS IN PLIFE REIT’S UNITS
The Trust Deed requires each director to give notice to the Manager of his acquisition of units or of changes in the number
of units which he holds or in which he has an interest, within two business days after such acquisition or the occurrence
of the event giving rise to changes in the number of units which he holds or in which he has an interest. This is in line with
the requirements of the Section 137Y of the SFA (
relating to notification of unitholdings by directors and Chief Executive
Officer of the Manager
). The Chief Executive Officer of the Manager is also required to give similar notice under the new
section.
All dealings in units by the directors and the Chief Executive Officer will be announced via SGXNET, with the announcement
to be posted on the SGX-ST website at
.
The directors and employees of the Manager are encouraged, as a matter of internal policy, to hold units but are prohibited
from dealing in the units:
(a)
in the period commencing one month before the public announcement of PLife REIT’s annual results and (where
applicable) property valuations and two weeks before the public announcement of PLife REIT’s quarterly results,
and ending on the date of announcement of the relevant results or as the case may be, property valuations; and
(b)
at any time while in possession of unpublished price sensitive information.
The directors and employees of theManager have been directed to refrain fromdealing in units on short-termconsiderations.
In addition, the Manager has undertaken that it will not deal in the units during the period commencing one month before
the public announcement of PLife REIT’s annual results and (where applicable) property valuations and two weeks before
the public announcement of PLife REIT’s quarterly results, and ending on the date of announcement of the relevant results
or as the case may be, property valuations.
Further, the Section 137ZC of the SFA (
relating to notification of unitholdings by responsible persons
) requires the
Manager to,
inter alia
, announce via SGXNET the particulars of any acquisition or disposal of interest in PLife REIT’s units
by the Manager no later than the end of the business day following the day on which the Manager became aware of the
acquisition or disposal.
RISK ASSESSMENT AND MANAGEMENT OF BUSINESS RISK
Effective risk management is a fundamental part of PLife REIT’s business operations. Recognising and managing risk
is central to the business and protecting Unitholders’ interests and value. PLife REIT operates within overall guidelines
and specific parameters set by the Board. Each transaction is comprehensively analysed to understand the risk involved.
Responsibility for managing risk lies initially with the business unit concerned, working within the overall strategy outlined
by the Board.
The Board meets quarterly (or more often, if necessary) and will review the financial performance of the Manager and PLife
REIT against a previously approved budget. The Board will also review the business risks of PLife REIT, examine liability
management and will act upon any comments from the auditors of PLife REIT.
As a result of the licensing regime for managers of REITs under the SFA, the Manager, as a holder of a CMS Licence, has
established internal procedures to ensure compliance with the relevant laws, regulations and guidelines relating to anti-
money laundering and countering the financing of terrorism and has also adopted procedures to ensure that all material
outsourcing comply with the MAS Guidelines on Outsourcing issued in October 2004 and last updated on 1 July 2005.
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Annual Report 2015
61
