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Independent auditors’ report Unitholders of Ascendas Real Estate Investment Trust (Constituted under a trust deed dated 9 October 2002 (as amended and restated) in the Republic of Singapore) We have audited the accompanying financial statements of Ascendas Real Estate Investment Trust (the “Trust”), which comprise the Balance Sheet and Investment Properties Portfolio Statement of the Trust as at 31 March 2010, and the Statement of Total Return, Distribution Statement, Statement of Movements in Unitholders’ Funds and Cash Flow Statement of the Trust for the year then ended, and a summary of significant accounting policies and other explanatory notes, as set out on pages 104 to 158. Manager’s responsibility for the financial statements The Manager of the Trust is responsible for the preparation and fair presentation of these financial statements in accordance with the recommendations of Statement of Recommended Accounting Practice 7 “Reporting Framework for Unit Trusts” issued by the Institute of Certified Public Accountants of Singapore. This responsibility includes: designing, implementing and maintaining internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances. Auditors’ responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with Singapore Standards on Auditing. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgement, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Trust’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Trust’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the Manager of the Trust, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. 102 Ascendas real estate investment trust
Opinion In our opinion, the financial statements of the Trust present fairly, in all material respects, the financial position of the Trust as at 31 March 2010, the total return, distributable income, movements in Unitholders’ funds and cash flows of the Trust for the year then ended in accordance with the recommendations of Statement of Recommended Accounting Practice 7 “Reporting Framework for Unit Trust” issued by the Institute of Certified Public Accountants of Singapore. KPMG LLP Public Accountants and Certified Public Accountants Singapore 17 May 2010 8th Annual Report FY09/10 103
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8th Annual Report FY09/10 C H A N G
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Changing Times... The implosion of
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About A-REIT Ascendas Real Estate I
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A-REIT’s Competitive Edge Operati
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oct 09 7 19 A-REIT was voted the Wi
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NUMBER OF PROPERTIES IN PORTFOLIO 9
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A-REIT Unit Price Performance FY09/
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8th Annual Report FY09/10 13
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capital structure. A-REIT issued a
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董事会主席献辞变迁
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在这个举步维艰的时
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Portfolio organic growth of 2.9% wa
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was in view of the significant amou
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S$’000 FY09/10 FY08/09 FY07/08 FY
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Sector Revaluation Gain / (Loss) @
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land lease expiry for A-REIT’s po
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Area due for renewal (‘000sf) Ave
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5 6 7 8 5 Mr Koh Soo Keong Independ
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Tan Ser Ping Executive Director Chi
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13 Kathryn Chew 14 Chan Lai Kuan 15
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UNITHOLDERS ASCENDAS FUNDS MANAGEME
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formulate and implement effective m
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North South MRT Line East West MRT
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Hi-Tech Industrial Properties High
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Notes to the financial statements I
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Notes to the financial statements F
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Notes to the financial statements 3
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STATISTICS OF UNITHOLDINGS Issued a
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ADDItional information Interested p
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ADDItional information Historical s
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HOW TO CONTACT US To find out more
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Ascendas Real Estate Investment Tru
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