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EC World Real Estate Investment Trust ANNUAL REPORT 2016
The internal auditor’s primary reporting line is to the Chairman of the ARC and administratively to the CEO. The ARC
reviews and approves the annual internal audit plan, and ensures that the internal auditor has adequate resources to
perform its functions. The ARC also reviews the results of internal audits and Management’s actions in resolving any
audit issues reported. The ARC is satisfied with the suitability of the internal auditors and is of the view that the internal
audit function is adequately resourced to perform its functions, and has appropriate standing within the Manager.
(D) SHAREHOLDER RIGHTS AND RESPONSIBILITIES
Shareholder Rights
Principle 14: Unitholders’ rights
Principle 15: Communication with Unitholders
Principle 16: Conduct of Unitholder Meetings
The Manager is committed to treating all Unitholders fairly and equitably. All Unitholders enjoy specific rights under the
Trust Deed and the relevant laws and regulations. These rights include, among other things, the right to participate in
profit distributions. They are also entitled to attend general meetings and are accorded the opportunity to participate
effectively and vote at general meetings.
The Manager is committed to keeping all Unitholders and other stakeholders and analysts informed of the performance
and changes in ECW or its business which would be likely to materially affect the price or value of the Units, on a timely
and consistent basis, so as to assist Unitholders and investors in their investment decisions.
The Manager has an Investor Relations and Corporate Communications teamwhich facilitates effective communication
with Unitholders, analysts, fund managers and the media.
The Manager actively engages with Unitholders and has put in place a Unitholders’ Communication and Investor
Relations Policy (Policy) to promote regular, effective and fair communications with Unitholders.
More information on the Manager’s investor and media relations with Unitholders can be found in the Investor & Media
Relations section on page 62 of this Annual Report and the Policy which is available on ECW’s website.
Unitholders are notified in advance of the date of release of ECW’s financial results through an announcement via
SGXNet. The Manager also conducts regular briefings for analysts. During these briefings, Management will share
ECW’s performance as well as discuss the business outlook for ECW. Briefing materials are also released through the
SGX-ST via SGXNet and also made available on ECW’s website.
Distribution policy
In accordance with the Prospectus for Initial Public Offering of ECW, ECW’s distributions policy is to distribute 100.0% of
ECW’s Distributable Income for the period from the Listing Date to 31 December 2017. Thereafter, ECW will distribute
at least 90% of its Distributable Income on a semi-annual basis.
During 2016, the Manager had made a distribution of 0.991 Singapore cent per unit for the period from 28 July 2016 to
30 September 2016 on 28 November 2016. A second distribution of 1.463 Singapore cents per unit for the period from
1 October 2016 to 31 December 2016 will be made on 29 March 2017.