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ANNUAL REPORT 2011
preceding year.
The land rent paid/payable to JTC amounted to $4,293,000 in relation to 16 properties
31 December 2011 (including amounts which have been recharged to the master lessees).
(b)
The Group and the Trust leases out its investment properties under operating lease agree
operating lease rentals receivable are as follows:
Within 1 year
After 1 year but within 5 years
(c)
As at balance sheet date, the Group has entered into a contractual agreement with external partie
acquire and sell the equivalent amount of $352.8 million of commodities at the prevailing market
future dates till 26 November 2013 and 21 November 2014.
25
SIGNIFICANT RELATED PARTY TRANSACTIONS
For the purposes of these fnancial information, parties are considered to be related to the Group a
(as manager of the Trust) has the ability, directly or indirectly, to control the party or exercise signif
party in making fnancial and operating decisions, or vice versa, or where the Manager and the party
signifcant infuence. Related parties may be individuals or other entities. The Manager and Property
of a signifcant Unitholder of the Trust.
In the normal course of its business, the Trust carried out transactions with related parties on ter
parties. During the fnancial period, in addition to those disclosed elsewhere in the fnancial statements,
signifcant related party transactions:
Transaction
value for the
period ended
31 December 2011
$’000
Purchase of investment properties from a sponsor and its related companies
192,950
Rental income received/receivable from a sponsor and its related companies
16,612
Acquisition fees paid/payable to the Manager
8,055
Management fees and reimbursables paid/payable to the Manager
5,072
Property management fees and reimbursables paid/payable to the Property
Manager
1,539
Inception fees paid to the Trustee and capitalised as issue expenses
40
Trustee fees paid/payable to the Trustee
407
Sabana AR 2011 Financial V9.indd 95
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