HUTCHISON PORT HOLDINGS TRUST 180 NOTES TO THE FINANCIAL STATEMENTS 30 Related parties transactions (Continued) (i) Income from and expenses to related parties (Continued) Notes: (Continued) (c) Revenue from related companies for the provision of transportation management services was charged at prices and terms mutually agreed. (d) Interest income from the loans provided to an associated company was charged in accordance with the terms disclosed in Note 15 and Note 20(b). (e) Container handling charges, transportation management service charges and lease rentals to joint ventures, associated companies and related companies were charged at terms pursuant to relevant agreements. (f) The Trustee-Manager’s management fees were charged in accordance with the Trust Deed. The base fee was charged at a fi xed fee of US$2,500,000 (equivalent to HK$19,500,000) per annum which is subject to increase each year from 2012 by such percentage representing the percentage increase in the Hong Kong Composite Consumer Price Index. The base fee for the year ended 31 December 2025 is payable in cash. As the December 2025 fi gure for the Hong Kong Composite Consumer Price Index is yet to be published as at the date of preparation of these fi nancial statements, the adjustment to the base fee, if required, will be accounted for in the subsequent fi nancial year. Development fee relates to the development project by YEPICT, a joint venture of HPH Trust, was charged in accordance with the Trust Deed which states that the development fee is payable in arrears for every six months after the commencement of the development project in respect of project costs incurred over the previous six-month period. Pursuant to the Trust Deed, (1) where the total project costs incurred in the development project is less than US$500 million, the Trustee-Manager is entitled to receive a fee of 2.5% of the total project costs incurred (pro-rated to HPH Trust’s 39.73% eff ective interest in the subject development project); and (2) where the total project costs incurred in the development project is US$500 million or more, the Trustee-Manager is entitled to receive a fee of US$12.5 million plus 1.5% of the total project costs incurred which exceeds US$500 million (pro-rated to HPH Trust’s 39.73% eff ective interest in the subject development project). Total project costs incurred since commencement of the project up to 31 December 2025 were over US$500 million. Development fees were calculated based on the 2.5% for the project costs incurred reached and within the US$500 million threshold and 1.5% for the project costs incurred over US$500 million threshold for the years ended 31 December 2025 and 2024 (pro-rated to HPH Trust’s 39.73% eff ective interest in the subject development project). (g) Global support services fees in respect of administration services, and licence for certain intellectual property rights were charged at prices and terms mutually agreed. (h) IT support and maintenance services fees in respect of the support and maintenance of IT systems to an associated company and related companies were charged at prices and terms mutually agreed. (i) Interest expenses for the loans due to the related companies were charged in accordance with the term disclosed in Note 22.
RkJQdWJsaXNoZXIy NTM2MDQ5