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HSBC Institutional Trust Services (Singapore) Limited (the “Trustee”) is under a duty to take into custody and hold
the assets of CapitaCommercial Trust (the “Trust”) and its subsidiaries (the “Group”) in trust for the unitholders. In
accordance with the Securities and Futures Act, Chapter 289 of Singapore, its subsidiary legislation and the Code on
Collective Investment Schemes, the Trustee shall monitor the activities of CapitaCommercial Trust Management Limited
(the “Manager”) for compliance with the limitations imposed on the investment and borrowing powers as set out in the
Trust Deed in each annual accounting period and report thereon to unitholders in an annual report.
To the best knowledge of the Trustee, the Manager has, in all material respects, managed the Trust during the period
covered by these financial statements, set out on pages 65 to 135 in accordance with the limitations imposed on the
investment and borrowing powers set out in the Trust Deed.
For and on behalf of the Trustee,
HSBC Institutional Trust Services (Singapore) Limited
Antony Wade Lewis
Director
Singapore
27 February 2012
Report of the Trustee
Year Ended 31 December 2011
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