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ANNUAL REPORT 2011 // 55
Options
There were no options granted during the period by the Trustee-Manager to any person to take up unissued units in the
Trust.
No units have been issued during the period by virtue of the exercise of options to take up unissued units of the Trust.
There were no unissued units of the Trust under option at the end of the period.
Directors’ contractual benefits
No director of the Trustee-Manager has received or become entitled to receive a beneft by reason of any material
contract made by the Trust or its subsidiaries with the director or with a frm of which he is a member or with a
company in which he has a substantial fnancial interest, except as disclosed in the accompanying accounts and
in this report, and except that certain directors receive remuneration as a result of their employment with such
subsidiaries.
Audit Committee
The members of the audit committee of the Trustee-Manager (the “Audit Committee“) during the period, at the end of
the period and as at the date of this report were as follows:
Mr. Graeme Allan Jack (Chairman)
Mrs. Sng Sow-Mei (alias Poon Sow Mei)
Mr. Frank John Sixt
Mr. Graeme Allan Jack and Mrs. Sng Sow-Mei (alias Poon Sow Mei) are independent and are non-executive directors.
Mr. Frank John Sixt is a non-executive director with the relevant business and fnancial management experience
and skills to understand fnancial statements and contribute to the fnancial governance, internal controls and risk
management of the Trust.
The Audit Committee carried out its functions in accordance with Regulation 13(6) of the Business Trusts Regulations
2005. In performing its functions, the Audit Committee has reviewed:
• the scope and the results of internal audit procedures with the internal auditor of the Trustee-Manager;
• with the independent auditor of the Trust, the audit plan of the Trust and the independent auditor’s report in relation
to signifcant accounting, tax and internal control matters of the Trust arising from the statutory audit;
• the assistance given by the offcers of the Trustee-Manager to the independent auditor; and
• the statement of fnancial position and statement of changes in equity of the Trust and the consolidated accounts
of the Group for the period from 25 February 2011 (date of constitution of the Trust) to 31 December 2011 before
their submission to the Board of Directors of the Trustee-Manager (the “Board”), as well as the independent
auditor’s report on the statement of fnancial position and statement of changes in equity of the Trust and the
consolidated accounts of the Group.
The Audit Committee has recommended to the Board that the independent auditor, PricewaterhouseCoopers LLP,
be nominated for re-appointment as the auditor of the Trust at the forthcoming Annual General Meeting of the
unitholders.