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<strong>Annual</strong> <strong>Report</strong> <strong>2007</strong><br />
<strong>The</strong> <strong>Link</strong> Real Estate Investment Trust<br />
9<br />
Chairman’s Statement<br />
■<br />
<strong>The</strong> facelift at the Hau Tak Shopping Centre is shown by the contrast<br />
between the enhanced East Wing (left) and West Wing, in which<br />
renovation work is currently ongoing.<br />
■<br />
Our asset enhancement projects optimise our properties’ potential and<br />
rejuvenate the environment to bring shoppers an inviting experience.<br />
In addition to improving revenue, we are lowering operating<br />
costs. An example is the reduction of the number of property<br />
management agents and carpark operators. Relationships<br />
are now focused only on the top performers. We are also<br />
introducing energy-saving devices where applicable and<br />
appropriate. Initiatives like these help us control operating<br />
costs without compromising the quality of service delivery.<br />
People<br />
Since I joined the Board in April this year, I have begun to<br />
build strong working relationships with the management<br />
team and I would like to offer the Board’s sincere thanks<br />
to our management and staff. <strong>The</strong>ir professionalism and<br />
dedication are essential to our success.<br />
the results of which will be announced as soon as an<br />
appointment is made.<br />
Outlook<br />
While good progress has been made already in growing the<br />
value of <strong>The</strong> <strong>Link</strong>’s assets, there is much more to be done.<br />
We see many opportunities to grow returns to unitholders,<br />
while making a significant contribution to the daily lives of<br />
many Hong Kong people by providing them with greatly<br />
improved shopping facilities. I am confident that our strong<br />
professional management team can take these opportunities<br />
and create value for our unitholders, shoppers, tenants and<br />
the community of Hong Kong.<br />
Mr Paul CHENG Ming Fun stepped down as Chairman on 31<br />
March <strong>2007</strong>, having led <strong>The</strong> <strong>Link</strong> <strong>REIT</strong> since before its listing.<br />
We offer our best wishes to him on his retirement.<br />
On 30 April <strong>2007</strong>, the Board announced that due to health<br />
reasons, Mr Victor SO Hing Woh, Executive Director and<br />
Chief Executive Officer, does not intend to serve a further full<br />
term after his current three year service contract expires on<br />
15 July <strong>2007</strong>. A search is in progress to identify a successor,<br />
Nicholas Robert SALLNOW-SMITH<br />
Chairman<br />
<strong>The</strong> <strong>Link</strong> Management Limited<br />
as Manager of <strong>The</strong> <strong>Link</strong> Real Estate Investment Trust<br />
8 June <strong>2007</strong>
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