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EC World Real Estate Investment Trust ANNUAL REPORT 2016
DBS Trustee Limited (the “Trustee”) is under a duty to take into custody and hold the assets of EC World Real Estate
Investment Trust (“ECW”) held by it or through its subsidiaries (collectively the “Group”) in trust for the holders
(“Unitholders”) of units in ECW. In accordance with the Securities and Futures Act (Cap. 289), its subsidiary legislation
and the Code on Collective Investment Schemes (“CIS”), the Trustee shall monitor the activities of EC World Asset
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 5 August 2015 as amended by the First Amending and Restating Deed dated
29 June 2016 and First Supplemental Deed dated 27 October 2016 (the “Trust Deed”) between the Trustee and the
Manager 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 ECW and its subsidiaries
during the financial year covered by these financial statements set out on pages 72 to 118, 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
DBS Trustee Limited
Jane Lim Puay Yuen
Director
Singapore,
24 March 2017
REPORT OF
THE TRUSTEE
For the Financial Year ended 31 December 2016