Corporate website to communicate and engage with stakeholders (Provision 13.3) The Manager engages with these stakeholders through various informal and formal channels of communication. For example, the Manager maintains a corporate website (https://www.ecwreit.com/) to leverage on internet platforms, which enables it to communicate with key stakeholders and the public. For more information, please refer to the “Sustainability” section on pages 39 to 40 of this Annual Report. (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. A formal policy has also been drawn up to document the procedures. 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 Rules and the Property Funds Appendix). the internal control procedures also ensure compliance with Chapter 9 of the Listing Rules and the Property Funds Appendix. In particular, the procedures in place include the following: Interested person transactions1 Approving Authority, procedures and Disclosure Board Members Approval Authority S$100,000 and above per transaction (which singly, or when aggregated with other transactions2 with the same Interested person in the same financial year is less than 3.0% of ECW’s latest audited net tangible assets/net asset value) Trustee ARC Transaction2 which: (a) is equal to or exceeds 3.0% of ECW’s latest audited net tangible assets/ net asset value; or (b) when aggregated with other transactions3 with the same Interested person in the same financial year is equal to or exceeds 3.0% of ECW’s latest audited net tangible assets/net asset value Trustee ARC Immediate announcement Transaction which: (a) is equal to or exceeds 5.0% of ECW’s latest audited net tangible assets/ net asset value; or (b) when aggregated with other transactions3 with the same Interested person in the same financial year is equal to or exceeds 5.0% of ECW’s latest audited net tangible assets/net asset value Trustee ARC Unitholders Immediate announcement 1 This table does not include the procedures applicable to interested person transactions falling under the exceptions set out in Rules 915 and 916 of the listing Rules. 2 Any transaction of less than S$100,000 in value is disregarded. 3 In relation to approval by Unitholders for transactions that equal to or exceed 5.0% of ECW’s latest audited net tangible assets/net asset value (whether singly or aggregated), any transaction which has been approved by Unitholders, or is the subject of aggregation with another transaction that has been approved by Unitholders, need not be included in any subsequent aggregation. EC WORLD REIT 60 CORPORATE GOVERNANCE
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