178
FRASERS HOSPITALITY TRUST ANNUAL REPORT 2015
NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL PERIOD FROM 20 JUNE 2014 (DATE OF CONSTITUTION) TO 30 SEPTEMBER 2015
23.
SIGNIFICANT RELATED PARTY TRANSACTIONS
In addition to those related party information elsewhere in the financial statements, the following significant
transactions between the Stapled Group and related parties took place during the financial period at terms
agreed between parties:
FHT and FH-REIT Group
20 Jun 2014 to 30
Sep 2015
Description
$’000
With related companies of the Managers
– Acquisition of investment properties
(1,758,874)
– Rental income received and receivable
128,135
– Reimbursement of expenses paid/payable on behalf
(4,638)
With the REIT Manager
– Base management fees paid/payable
(5,403)
– Performance management fees paid/payable
(4,157)
– Reimbursement of expenses paid/payable on behalf
(684)
– Servicer fees paid/payable
(161)
With the MIT Manager
– Base management fees paid/payable
(876)
– Performance management fees paid/payable
(998)
– Acquisition fees paid
(1,164)
With the Property Manager
– Property management fees paid/payable
(7,431)
With the Trustee
– FH-REIT Trustee’s fees paid/payable
(298)
– Other trustee fees paid/payable
(204)
24.
COMMITMENTS AND CONTINGENCIES
(a)
Operating lease commitments – lessor
FH-REIT Group leases out its investment properties to related companies. Non-cancellable operating
lease rental receivables are as follows:
FHT FH-REIT Group
FH-BT
30 Sep 2015
30 Sep 2015
30 Sep 2015
$’000
$’000
$’000
Within one year
53,125
53,125
–
Between one to five years
196,999
196,999
–
More than five years
560,972
560,972
–
811,096
811,096
–
(b)
Financial guarantee contracts
As at 30 September 2015, FH-REIT has provided a corporate guarantee of AUD 117.2 million (SGD 117.3
million) in respect of the term loan of a subsidiary (Note 17).
