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EC World Real Estate Investment Trust ANNUAL REPORT 2016
Conduct of Unitholders’ meetings
The Manager supports the principle of encouraging Unitholders’ participation and voting at general meetings.
Unitholders are informed of meetings through notices which are accompanied by the annual reports or circulars sent
to them. If any Unitholder is unable to attend, he/she is allowed to appoint up to two proxies to vote on his/her behalf
at the meeting through proxy forms. At the meetings, each distinct issue is proposed as a separate resolution and full
information is provided for each item in the notice. Notices of the general meetings are also advertised in the press and
issued on SGXNet. To ensure transparency in the voting process and better reflect Unitholders’ interest, the Manager
conducts poll voting for Unitholders/proxies present at the general meetings for all the resolutions proposed at the
general meetings.
At general meetings, Unitholders are encouraged to communicate their views and discuss with the Board and
Management on matters affecting ECW. Representatives of the Trustee, Directors (including the chairpersons of the
Board, the NRC and the ARC), the Manager’s senior management and the external auditors, shall be present at general
meetings to address any queries that Unitholders may have.
The total number of votes cast for or against the resolutions and the respective percentages will be announced on
SGXNet after the general meetings. Voting in absentia and by email which are currently not permitted may only
be possible following careful study to ensure that the integrity of information and authentication of the identity of
Unitholders through the web are not compromised, and legislative changes are effected to recognise remote voting.
Minutes of the general meetings are taken and are available to Unitholders for their inspection upon request.
Unitholders also have the opportunity to communicate their views and discuss with the Board and Management matters
affecting ECW after the general meetings.
(E) ADDITIONAL INFORMATION
Dealings with Interested Persons
Review Procedures for Interested Person Transactions
The Manager has established internal control procedures to ensure that all Interested Person Transactions are
undertaken on an arm’s length basis and on normal commercial terms, which are generally no more favourable than
those extended to unrelated third parties, and are not prejudicial to the interests of ECW and Unitholders.
In respect of such transactions, Management would have to demonstrate to the ARC that such transactions are
undertaken on normal commercial terms and are not prejudicial to the interests of ECW and Unitholders which may
include obtaining (where practicable) third party quotations or obtaining valuations from independent valuers (in
accordance with applicable provisions of the Listing Manual and the Property Funds Appendix). The internal control
procedures also ensure compliance with Chapter 9 of the Listing Manual and the Property Funds Appendix.
Corporate
Governance