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Trading Of A-REIT’s Units
In general, company policy encourages the directors and employees of the Manager to hold Units but prohibits them
from trading actively in the Units:
1. During the period commencing two weeks before the public announcement of A-REIT’s financial statements
for each quarter of its financial year, or one month before the full year results, as the case may be, and ending
on the date of announcement of the relevant results. This is in line with the best practices set out in the Listing
Manual; and
2. At any time whilst in possession of price sensitive information that is not available in the market.
The Directors and officers are advised not to deal in the Units on short term considerations.
In addition, the Manager has given an undertaking to the MAS that it will announce to the SGX-ST the particulars of its
holdings in the Units and any changes thereto within two days after the date on which it acquires or disposes any Units,
as the case may be. The Manager has also undertaken that it will not deal in the Units during the period commencing
two weeks before the public announcement of A-REIT’s quarterly results or one month before the full year results, and
if applicable, property valuation, and ending on the date of announcement of the relevant results.
Assessment And Management Of Business RiskS
Effective risk management is a fundamental part of A-REIT’s business operations. Recognising and managing risk is
central to the business and to protecting Unitholders’ interests and value. A-REIT operates within general 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 Manager recognises that there is a significant amount of risk inherent in making property investment decisions.
Accordingly, the Manager has set out procedures to be followed when making such decisions. In accordance with this
policy, the Manager ensures comprehensive due diligence is carried out in relation to each proposed investment and
a suitable determination is made as to whether the anticipated return on investment is appropriate having regard to
the level of risk of that investment.
In assessing business risks, the Board considers the economic environment and the property industry risk. The Board,
at times by the Executive Committee, reviews and approves all investment decisions. Management meets regularly to
review the operations of the Manager and A-REIT and to ensure timely disclosure in compliance with the regulations.
The Manager has established a whistle-blower policy which reflects the Manager’s commitment to conduct its business
within a framework that fosters the highest ethical and legal standards. In line with this commitment and A-REIT’s
commitment to open communication, the whistle-blower policy aims to provide an avenue for employees to raise
concerns and reassurance that they will be protected from reprisals or victimisation for whistle-blowing in good faith.
The Chairman of the Audit Committee is the one of the first contacts for issues raised under this policy.
8th Annual Report FY09/10
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