YEAR ENDED 31 DECEMBER 2015
RELATED PARTY TRANSACTIONS
The transactions entered into with related parties during the financial year, which fall under the Listing Manual and the
Code of Collective Investment Schemes, are as follows:
Name of Related Party
Aggregate value of all related
party transactions during the
financial year under review
S$’000
PT Lippo Karawaci Tbk and its subsidiaries or associates
-
Management fees
1
-
Acquisitions fees
-
Property management fees
-
Rental revenue
-
Fees recoverable relating to put option for Lippo Mall Kemang
11,166
1,069
4,223
44,877
531
HSBC Institutional Trust Services (Singapore) Limited
-
Trustee fee
335
1
For the purposes of Clause 907 of the Listing Manual of the SGX-ST, in arriving at this figure, the market price of
the LMIR Trust Units (being the closing price of the Units traded on the SGX-ST on the relevant date of issue of
the Units) issued to the Manager for the performance component of its management fees, was used to determine
the amount of the aggregate asset management fees paid to the Manager for the period from 1 January 2015
to 31 December 2015. A total of 18,999,305 LMIR Trust Units amounting to an aggregate of S$6,342,577 have
been or will be issued to the Manager as payment of the performance component of the asset management
fees (as computed pursuant to the Trust Deed) for the period from 1 January 2015 to 31 December 2015. In
respect of the period from 1 January 2015 to 31 March 2015, a total of 4,507,960 LMIR Trust Units at issue prices
of $0.3463* per Unit, were issued on 16 June 2015 to the Manager. The market price at the date of issue was
37 cents per Unit and the aggregate market value of these Units was S$1,667,945 based on this market price.
In respect of the period from 1 April 2015 to 30 June 2015, a total of 4,296,952 LMIR Trust Units at issue prices
of $0.3635* per Unit, were issued on 18 August 2015 to the Manager. The market price at the date of issue was
34 cents per Unit and the aggregate market value of these Units was S$1,460,964 based on this market price. In
respect of the period from 1 July 2015 to 30 September 2015, a total of 5,015,716 LMIR Trust Units at issue price
of $0.3213* per Unit, were issued on 16 November 2015 to the Manager. The market price at the date of issue
was 30.5 cents per Unit and the aggregate market value of these Units was S$1,529,793 based on this market
price. In respect of the period from 1 October 2015 to 31 December 2015, a total of 5,178,677 LMIR Trust Units
at issue price of S$0.3105* per Unit, were issued on 3 March 2016 to the Manager. The market price at the date
of issue was 32 cents per Unit and the aggregate market value of these Units was S$1,657,177 based on this
market price.
*
Based on the volume weighted average traded price for a Unit for all trades on the SGX-ST in the ordinary course
of trading on the SGX-ST for the last ten business days of the relevant period in which the management fee
accrues. Please also see Significant Related Party Transactions on note 3 in the financial statements.
SUBSCRIPTIONS OF LMIR TRUST UNITS
For the financial year ended 31 December 2015, an aggregate of 2,797,814,196 units were issued and subscribed for.
ANNUAL REPORT 2015
145
