Annual Report 2007 - The Link REIT

Annual Report 2007
The Link Real Estate Investment Trust
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Corporate Governance Report
So far as the Manager is aware, none of the management staff, whose biographies are disclosed in this Annual Report, held any
units in The Link REIT as at 31 March 2007.
Holding of Connected Persons in Units of The Link REIT
Upon making reasonable enquiry and according to information available to the Manager, the following persons, being
connected persons (as defined under the REIT Code) of The Link REIT, held units of The Link REIT as at 31 March 2007:
Name Number of Units Percentage of Holdings
The Children’s Investment Master Fund (1) 392,279,500 18.35%
CapitaLand Limited (2) 68,155,500 3.19%
HSBC Group (3) 6,300,600 0.29%
Wing Hang Bank Limited (4) 100,000 0.00%
Notes:
(1) The Children’s Investment Master Fund is a connected person as it is a significant holder (as defined under the REIT Code). Mr John HO Chi On, a Non-Executive
Director of the Manager is also a Director of The Children’s Investment Fund Management (Asia) Limited. According to information available to the Manager, The
Children’s Investment Master Fund’s unitholding as at 31 March 2007 remains unchanged as compared with the position as at 31 March 2006.
(2) CapitaLand Limited is a connected person as Mr LIEW Mun Leong is a common Director of CapitaLand Limited, (the “Strategic Partner”), and the Manager. Mr LIEW
Mun Leong and Mr PUA Seck Guan were appointed Non-Executive Directors of the Manager pursuant to the Co-operation Agreement and the Supplemental
Agreement signed between the Manager and the Strategic Partner on 27 August 2004 and 26 October 2005, respectively. According to information available to the
Manager, CapitaLand Limited has disposed 22,718,500 units of The Link REIT during the year under review and hence its holding was reduced to 68,155,500 units as
at 31 March 2007.
(3) The Hongkong and Shanghai Banking Corporation Limited and its subsidiaries are connected persons as HSBC Institutional Trust Services (Asia) Limited, an
indirect subsidiary of The Hongkong and Shanghai Banking Corporation Limited, is the Trustee. According to information available to the Manager, HSBC Group’s
unitholding was 6,300,600 units as at 31 March 2007, an increase of 3,587,600 units as compared with 31 March 2006.
(4) Wing Hang Bank Limited is a connected person as Dr Patrick FUNG Yuk Bun, Chairman of Wing Hang Bank Limited, is also a Director of the Manager. According to
information available to the Manager, its unitholding as at 31 March 2007 remains unchanged as compared with the position as at 31 March 2006.
Directors’ Interests in Contracts
No contracts of significance in relation to the Group’s business to which the Manager was a party and in which a Director of the
Manager had a material interest, whether directly or indirectly, subsisted at the end of the year or at any time during the year.
Conflict of Interest
The Manager has instituted stringent internal procedures to monitor and deal with conflict of interest issues. In particular:
i) Directors are required to report and update changes of their other directorships and positions held in other organisations
periodically. A register of such directorships and positions is also maintained;
ii)
Directors in general cannot vote on business in which they have an interest and cannot be counted in the quorum;