FRASERS HOSPITALITY TRUST ANNUAL REPORT 2015
189
NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL PERIOD FROM 20 JUNE 2014 (DATE OF CONSTITUTION) TO 30 SEPTEMBER 2015
30.
FINANCIAL RATIOS
FHT FH-REIT Group
30 Sep 2015
30 Sep 2015
%
%
Expense to weighted average net assets
(1)
– with performance fee of REIT Manager
1.46
1.46
– without performance fee of REIT Manager
0.97
0.97
Portfolio turnover ratio
(2)
22.25
22.25
(1) The expense ratios are computed in accordance with the guidelines of the Investment Manager Association of Singapore. The expenses
used in the computation relate to the expenses of the Stapled Group and FH-REIT Group, excluding property expenses, interest expense,
tax expense of each entity and extraordinary items where applicable.
(2) The portfolio turnover ratios are computed based on the lesser of purchases or sales of underlying investment properties of the Stapled
Group and FH-REIT Group expressed as a percentage of daily average net asset value.
31.
DISTRIBUTION TO STAPLED SECURITYHOLDERS
FHT and FH-REIT Group
30 Sep 2015
$’000
Distribution declared and paid during the financial period:
Distribution of 3.69 cents per Stapled Security paid on 29 June 2015
44,450
Advanced distribution of 2.30 cents per Stapled Security paid on 28 September 2015
27,737
72,187
Proposed but not recognised as liability as at the end of the financial period:
Distribution of 1.5745 cents per Stapled Security payable on 29 December 2015
21,540
32.
SUBSEQUENT EVENTS
On 3 November 2015 FH-REIT issued 3,198,148 new Stapled Securities at a price of SGD 85.30 cents per Stapled
Security in payment of the REIT Manager’s base fees, MIT Manager’s base fees and property management fees
for the period from 1 April 2015 to 30 June 2015.
On 3 November 2015 FH-REIT issued 1,964,289 new Stapled Securities at a price of SGD 73.67 cents per Stapled
Security in payment of the REIT Manager’s base fees and MIT Manager’s base fees for the period from 1 July
2015 to 30 September 2015, 3,088,093 new Stapled Securities at a price of SGD 73.67 cents per Stapled Security
in payment of the REIT Manager’s performance fees and MIT Manager’s performance fees for the period from 1
April 2015 to 30 September 2015 and 2,397,019 new Stapled Securities at a price of SGD 73.67 cents per Stapled
Security in payment of the property management fees for the period from 1 July 2015 to 30 September 2015.
On 29 October 2015 the REIT Manager declared a distribution of SGD 21,540,000 or SGD 1.5745 cents per
Stapled Security to Stapled Securityholders in respect of the period from 6 July 2015 to 30 September 2015.
33.
COMPARATIVES
There are no comparative figures as this is the first set of financial statements for the FH-REIT Group, FH-BT and
the Stapled Group since the date of constitution.
34.
AUTHORISATION OF FINANCIAL STATEMENTS
These financial statements were authorised for issue in accordance with a resolution of the Managers on 5
November 2015.
