REPORT OF THE TRUSTEE
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
subsidiaries (the “Group”) in trust for the holders (“Unitholders”) of units in the Trust (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 by the First Supplemental
Deed dated 2 December 2010) (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 financial statements, set out on pages 89 to 143 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
27 February 2015
SABANA REIT
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ANNUAL REPORT 2014
86
