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OUR ROLE

CapitaCommercial Trust (CCT), constituted as a trust, is externally managed by CapitaCommercial Trust Management Limited (Manager). The Manager appoints experienced and well-qualified personnel to run the dayto- day operations of CCT.

On 23 August 2010, the Manager obtained a Capital Markets Services (CMS) Licence issued by the Monetary Authority of Singapore (MAS) to carry out real estate investment trust (REIT) management as required under the new licensing regime for REIT managers which took effect from 1 August 2008.

Our primary role as the Manager is to set the strategic direction of CCT and make recommendations to HSBC Institutional Trust Services (Singapore) Limited, as the trustee of CCT (Trustee), on the acquisition, divestment or enhancement of the assets of CCT in accordance with its stated investment strategy.

As the Manager, we have general powers of management over the assets of CCT. Our primary responsibility is to manage the assets and liabilities of CCT for the benefit of Unitholders with a focus on generating rental income and, where appropriate, increasing CCT's assets over time so as to enhance the return on investments and ultimately, the distributions and total return to Unitholders.

Our other functions and responsibilities as the Manager include:

• preparing property plans annually for review by the directors of the Manager (Directors), including proposals and forecasts on net income, capital expenditure, sales and valuations, explanation of major variances to previous forecasts, written commentary on key issues and underlying assumptions on rental rates, occupancy costs and any other relevant assumptions. These plans explain the performance of CCT's assets.
• preparing the accounts of CCT.
• ensuring compliance with relevant laws and regulations, including the applicable provisions of the Securities and Futures Act, Chapter 289 (SFA), the Listing Manual of Singapore Exchange Securities Trading Limited (SGXST) (Listing Manual), the Code on Collective Investment Schemes (CIS Code) issued by MAS and the tax rulings issued by the Inland Revenue Authority of Singapore on the taxation of CCT and its Unitholders.
• attending to all regular communications with Unitholders.
• supervising the property manager, CapitaLand Commercial Management Pte. Ltd. which performs the day-to-day property management functions (including leasing, accounting, marketing, promotion, co-ordination and property management) for CCT's properties, including playing a key role in directing the property management function for Raffles City Singapore, through its 60.0% interest in CapitaLand (RCS) Property Management Pte. Ltd. which provides property management services to Raffles City Singapore (CapitaLand Commercial Management Pte. Ltd. and CapitaLand (RCS) Property Management Pte. Ltd. collectively known as the Property Manager).

The trust deed constituting CCT (Trust Deed) outlines certain circumstances under which the Manager can be removed, by notice in writing given by the Trustee, in favour of a corporation appointed by the Trustee upon the occurrence of certain events, including by a resolution passed by a simple majority of Unitholders present and voting at a meeting of Unitholders duly convened and held in accordance with the provisions of the Trust Deed.

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