Annual Report 2007 - The Link REIT

Annual Report 2007
The Link Real Estate Investment Trust
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Corporate Governance Report
iii)
reviewed and considered the amendments to the Trust Deed of The Link REIT and the Notice of Amendments to
unitholders; and
iv)
reviewed and considered the continuous disclosure obligations of The Link REIT as issuer of its units under the Securities
and Exchange Law of Japan and Investment Trust and Investment Corporation Law of Japan.
The attendance record of the Disclosures Committee is as follows:
DISCLOSURES COMMITTEE Year ended 31 March 2007 Year ending 31 March 2008 #
Number of meetings held 4 1
Members
Nicholas Robert SALLNOW-SMITH (1) (Chairman) n/a 1/1
Paul CHENG Ming Fun (2) (Ex-Chairman) 4/4 n/a
CHEW Fook Aun (3) 1/1 1/1
Anthony CHOW Wing Kin (4) 4/4 1/1
Thomas PANG Pui Yin (5) 3/3 n/a
PUA Seck Guan 2/4 1/1
Victor SO Hing Woh 4/4 1/1
# Meetings held in thefinancial year to date
(1) Mr Nicholas Robert SALLNOW-SMITH was appointed as the Chiarman of the Disclosures Committee with effect from 1 April 2007
(2) Mr Paul CHENG Ming Fun retired as the Chairman of the Disclosures Committee with effect from 1 April 2007
(3) Mr CHEW Fook Aun was appointed as a member of the Disclosures Committee with effect from 1 February 2007
(4) Mr Anthony CHOW Wing Kin was appointed as a member of the Disclosures Committee with effect from 22 May 2006
(5) Mr Thomas PANG Pui Yin ceased to be a member of the Disclosures Committee with effect from 1 February 2007
Review of Internal Controls and Assessment of Business Risk
The Board has reviewed the internal controls and assessed the business risk of The Link REIT in general with the assistance of
various Board Committees. The Board has considered thefinancial performance of The Link REIT against an approved budget. It
has accepted the periodical risk review reports and the compliance reports examined and endorsed by the Audit Committee.
The Board is committed to implementing effective risk management and internal control processes to identify and manage
risks that may adversely affect successful operations of The Link REIT.
During the year, a high level review of risks inherent in the Group's core business processes and the key controls established to
manage those risks was conducted. In addition, majorfinancial, property and legal risks were reviewed by the Audit Committee
periodically. An internal audit team has conducted reviews of internal controls covering the property leasing and management
processes and thefinancial systems of the Group. Internal audit reports highlighting auditfindings and recommendations for
improvement have been reviewed by the Audit Committee.
The Board is generally satisfied as to the effectiveness and adequacy of internal controls covering the key processes and
systems of the Group.