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Notes to the Financial Statements
These notes form an integral part of the financial statements.
The financial statements were authorised for issue by the Manager and the Trustee on 27 February 2012.
1 General
CapitaCommercial Trust (the “Trust”) is a Singapore-domiciled unit trust established pursuant to the trust deed
dated 6 February 2004 (as amended) (the “Trust Deed”) between CapitaCommercial Trust Management Limited
(the “Manager”) and HSBC Institutional Trust Services (Singapore) Limited (the “Trustee”). The Trust Deed is
governed by the laws of the Republic of Singapore. The Trustee is under a duty to take into custody and hold the
assets of the Trust and its subsidiary (the “Group”) in trust for the holders (“Unitholders”) of units in the Trust
(the “Units”).
The Trust was formally admitted to the Ofcial List of the Singapore Exchange Securities Trading Limited (the
“SGX-ST”) on 11 May 2004 and was included under the Central Provident Fund (“CPF”) Investment Scheme on
11 May 2004.
The consolidated financial statements of the Trust as at and for the year ended 31 December 2011 comprise the
Trust and its subsidiary (together referred to as the ‘Group’ and individually as ‘Group entities’) and the Group’s
interest in its associate and joint ventures.
The principal activity of the Trust is to invest in income producing real estate and real estate related assets, which
are used or substantially used for commercial purposes, with the primary objective of achieving an attractive level
of return from rental income and for long-term capital growth.
The principal activity of the subsidiary is the provision of treasury services, including lending to the Trust the
proceeds from issuance of notes under an unsecured multicurrency medium term note program.
The Trust has entered into several service agreements in relation to management of the Trust and its property
operations. The fee structures of these services are as follows:
(i) Property management fees
Under the property management agreements, property management fees are charged at 3.00% per annum
of the net property income of the properties except for HSBC Building which is charged at 0.25% per annum
of the net property income.
The property management fees are payable monthly in arrears.
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