FRASERS HOSPITALITY TRUST ANNUAL REPORT 2015
117
REPORT OF THE TRUSTEE-MANAGER OF
FRASERS HOSPITALITY BUSINESS TRUST
FOR THE FINANCIAL PERIOD FROM 20 JUNE 2014 (DATE OF CONSTITUTION) TO 30 SEPTEMBER 2015
DIRECTORS’ CONTRACTUAL BENEFITS
During the financial period from 20 June 2014 to 30 September 2015, no Director of the Trustee-Manager has received
or became entitled to receive a benefit in FH-BT by reason of a contract made by the Trustee-Manager, on behalf of
FH-BT or a related corporation with the Director, or with a firm of which such Director is a member or with a company
in which such Director has a substantial financial interest, except that the Directors served as directors or employees of
related corporations and received remuneration in that capacity from related corporations.
STAPLED SECURITY OPTIONS
During the financial period, there were:
(i)
no options granted by the Trustee-Manager to any person to take up unissued Stapled Securities in FHT; and
(ii)
no Stapled Securities issued by virtue of any exercise of option to take up unissued Stapled Securities in FHT.
There were no unissued units of FHT under option as at the end of the financial period.
AUDIT COMMITTEE
The Monetary Authority of Singapore (the “MAS”) has granted the Trustee-Manager a waiver from compliance with
Section 15(1) of the Business Trusts Act (the “BTA”) to the extent that Section 15(1) requires an audit committee to be
constituted, subject to the conditions that (i) the exemption shall only be in effect for so long as FH-BT is dormant, and
(ii) immediately upon the Trustee-Manager becoming aware that FH-BT will become active, the Trustee-Manager shall
ensure that an Audit Committee in compliance with the requirements of the BTA and the Business Trusts Regulations
(the “BTR”) is constituted before FH-BT becomes active.
AUDITOR
The retiring auditor, Ernst & Young LLP, will not be seeking re-appointment at the forthcoming Annual General Meeting.
KPMG LLP has expressed its willingness to accept appointment as auditor.
For and on behalf of the Trustee-Manager,
Frasers Hospitality Trust Management Pte. Ltd.
Lim Ee Seng
Director
Choe Peng Sum
Director
Singapore
5 November 2015
