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FRASERS HOSPITALITY TRUST ANNUAL REPORT 2015
NOTES TO THE FINANCIAL STATEMENTS
30 SEPTEMBER 2015
The following Notes form an integral part of the Financial Statements:
1.
CORPORATE INFORMATION
Frasers Hospitality Trust Management Pte. Ltd. (the “Company”) is a limited liability company. It is a wholly owned
subsidiary of Frasers Centrepoint Limited. The two companies are domiciled and incorporated in Singapore.
TCC Assets Limited, incorporated in the British Virgin Islands, is the ultimate holding company.
The registered office is located at 438 Alexandra Road, #21-00 Alexandra Point, Singapore 119958 and principal
place of business of the Company is located at 491B River Valley Road, #16-01, Valley Point, Singapore 248373.
The principal activities of the Company are those relating to investment advisory, property fund management
and to act as trustee-manager for Frasers Hospitality Business Trust, a trust listed on the Singapore Exchange
Securities Trading Limited.
Related companies in the financial statements refer to the Frasers Centrepoint Limited group of companies and
the entities related to the shareholders of TCC Assets Limited.
2.
BASIS OF PRESENTATION
The financial statements of the Company have been prepared on a going concern basis as the immediate
holding company will provide financial support to meet the liabilities of the Company as and when they fall due.
3.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
3.1
Basis of preparation
The financial statements are prepared in accordance with Singapore Financial Reporting Standards (“FRS”).
The financial statements are prepared on a historical cost basis except as disclosed in the accounting policies
below.
The financial statements are presented in Singapore Dollars (“$” or “S$”). All financial information presented in
Singapore Dollars has been rounded to the nearest thousand, unless otherwise stated.
Since incorporation, the Company has adopted all FRS that are relevant and effective for the financial period.
3.2
Significant accounting estimates and judgements
The preparation of financial statements in conformity with FRS requires management to make judgements,
estimates and assumptions that affect the reported amounts of the revenues, expenses, assets and liabilities
and the disclosure of contingent liabilities at the balance sheet date. Uncertainty about these assumptions and
estimates could result in outcomes that require a material adjustment to the carrying amount of the asset or
liability affected in the future periods. Management is of the opinion that there is no significant judgement made
in applying accounting policies and no estimation uncertainty that have a significant risk causing a material
adjustment to the carrying amounts of assets and liabilities within the next financial period.
