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HSBC Institutional Trust Services (Singapore) Limited (the “Trustee”) is under a duty to take into custody and hold
the assets of Sabana Shari’ah Compliant Industrial Real Estate Investment Trust (the “Trust”) and its subsidiary (the
“Group”) in trust for the holders (“Unitholders”) of units in the Group (the “Units”). In accordance with the Securities
and Futures Act, Chapter 289, of Singapore, its subsidiary legislation and the Code on Collective Investment Schemes,
the Trustee shall monitor the activities of Sabana Real Estate Investment Management Pte. Ltd. (the “Manager”)
for compliance with the limitations imposed on the investment and borrowing powers as set out in the trust deed
dated 29 October 2010 (as amended) (the “Trust Deed”) between the Manager and the Trustee in each annual
accounting period and report thereon to Unitholders in an annual report.
To the best knowledge of the Trustee, the Manager has, in all material respects, managed the Trust during the
period covered by these fnancial statements, set out on pages 81 to 128 in accordance with the limitations imposed
on the investment and borrowing powers set out in the Trust Deed.
For and on behalf of the Trustee,
HSBC Institutional Trust Services (Singapore) Limited
Antony Wade Lewis
Director
Singapore
25 February 2013
Report of
the Trustee
Year ended 31 December 2012
78
SABANA REIT
Annual Report 2012
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